Bike Tournament ...Very disappointing

[bav]

I'm also curious... when OP says "you could buy into the tournament for $500+$40" what is the $40? Is that vig? The casino is not only making the players fund it, but they're taking a cut? And youze guys fell for it?

They gave you a reach-around by throwing the car in, but it seems clear what they were actually doing.

[TonyLA]

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Essentially a 1 in 187 shot at winning an $80k car + 10k in cash playing NL = not a bad way to spend an evening.

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I happen to go along with the idea that this is a gawdawful tourney. Winning a car is one of those "kissing your sister" sorta things. By the time you're done with taxes, you'll almost be sorry you won. Cars are special...when you win, you have to pay income tax on the retail value of the car, and you have to pay sales tax, and you have to register it and pay THAT tax, and insure it. And then you're stuck with a car you didn't pick out.



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You could have taken the wholesale cash value for the car if you wanted as the dealer was willing to buy back the car. That's no hassle - the alternative would be to simply sell the car yourself and get more money that way.

I agree that it's not worth anything close to the full entry fee to get in, but for those of us that got in for free... what's the downside again?

- T

[TonyLA]

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Got to disagree.If you played an hour or two a month you wouldn't qualify. You needed a minimum 50 hours for the priviledge of paying $540.



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Who would do that? This is the second time they've done this promotion, and both times the prize was the car + any money that entrants paid to enter. They never stated that they would seed the prize pool $500 for each entrant - tht's just an incorrect assumption and inconsistent with past precedent.

Why would anyone pay $540 to enter a tournament that most people got into for free? I assume folks that play poker understand -EV when they see it.

- T

[QUADS4444]

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Got to disagree.If you played an hour or two a month you wouldn't qualify. You needed a minimum 50 hours for the priviledge of paying $540.



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Who would do that? This is the second time they've done this promotion, and both times the prize was the car + any money that entrants paid to enter. They never stated that they would seed the prize pool $500 for each entrant - tht's just an incorrect assumption and inconsistent with past precedent.

Why would anyone pay $540 to enter a tournament that most people got into for free? I assume folks that play poker understand -EV when they see it.

- T

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Fortunately I didn't pay $540. I paid $340. But I know people who paid more and feel ripped off. I wasn't there for the first one so I had no past precedent to go on.

But the point is that if the Bike wants to encourage new customers to play in their top section, they need to set up the tournament so that nobody (not even one customer) gets screwed. Or even perceives that they are getting screwed. It is not good for business. Furthermore a lot of casual players, knowing that it takes 300 hours to get the freebie, wont even try.

I, for one, won't give them my casual play anymore. There is no incentive. I'll give my 125 hours to another club.

What is my 125 hours worth to the Bike? At a conservative $20 an hour, it is worth $2500 to them. If this is how they show their appreciation, I'll take my business elsewhere.

[TonyLA]

I hear ya... to each his own.

FWIW... I heard discussion when I was playing on Wednesday night that the next tourney will be a giveaway of at least 9 $10k Legends of Poker main event seats. Similar structure to this one - the more hours you play, the less you pay and there would be a level where the entry is totally free.

- T

[QUADS4444]

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I hear ya... to each his own.

FWIW... I heard discussion when I was playing on Wednesday night that the next tourney will be a giveaway of at least 9 $10k Legends of Poker main event seats. Similar structure to this one - the more hours you play, the less you pay and there would be a level where the entry is totally free.

- T

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I like the nine $10,000 entries much better than the car. The car was way, way too top heavy. And rarely does anyone opt for the car. Most choose the cash option instead.