Venetian CEO Poker Tournament Main Event Furor

[WarDekar]

[ QUOTE ]
We will be reducing cost going forward and we will not be including a charity component. The charity component was promoted on the website and detailed in the structure rules and regulations. However, if we decide to go the charity route in the future, CEO POKER will make the donation directly to the charity and not involve the players.

Thank you for your comments.
Maria
CEOPOKER

[/ QUOTE ]

You have still yet to address the absurd 18% juice that this tournament had.

Clearly you do not play poker yourself, or you would realize that just about no-one can overcome an 18% vig on an MTT.

[PokeReader]

It also doesn't really help for the company to make the contribution, as this will be coming from profits generated by the vig on tournaments, so is you have excess profits to afford to do this, you can afford to charge less. This is similar to this issue we have with WTP about casino licensing fees. You need to understand that once word gets around about the absurd $500 vig that players were not clearly advised about at the tournament site, you will have a bad reputation. As a new player in tournaments, you need to confront this going forward by saying that you will carry on your charity work as a completely separate issue. You can do voluntary donations, do a charity tournament with voluntary donations, but having any percentage come out of the company will still hit players. I suggest you establish yourself first, and then you will be more able to support this charity work. What charity was it, by the way?

[Bond18]

lol, guilttripaments.

[PokeReader]

You would be happy if someone advertised 100 juice and charged 500 for a 2500 tourney?

[KurtSF]

[ QUOTE ]
This was an error on our part that we immediately caught the morning of the event, and was changed as soon as we found the mistake. It is exactly as you stated the poster read ($2,500 + $120) but should have been ($2,500 + $100) and we immediately changed the poster to benefit the player. We didnt increase the registration, we brought it down. ALL structure sheets were correct. ALL other print ads were correct, just the poster was not correct.

Let me know if you need any other clarification.

Great board by the way.

Have a good night.

Maria
CEO POKER

[/ QUOTE ]

According to this post, of the $2600 paid by each participant $2500 went to the prize pool.

I would like some further clarification. Is this a lie?

[Zetack]

[ QUOTE ]
[ QUOTE ]
This was an error on our part that we immediately caught the morning of the event, and was changed as soon as we found the mistake. It is exactly as you stated the poster read ($2,500 + $120) but should have been ($2,500 + $100) and we immediately changed the poster to benefit the player. We didnt increase the registration, we brought it down. ALL structure sheets were correct. ALL other print ads were correct, just the poster was not correct.

Let me know if you need any other clarification.

Great board by the way.

Have a good night.

Maria
CEO POKER

[/ QUOTE ]

According to this post, of the $2600 paid by each participant $2500 went to the prize pool.

I would like some further clarification. Is this a lie?

[/ QUOTE ]

It is not a lie, it is a very literal response to the previous post, which ignores the implied question (why did the poster say 2500 + 100 when in fact it was essentially a 2100 + 600 tourney).

If you read the first response in this thread by ceo poker it is clear that $2500 did not go to the prize pool.

Still, I wouldn't call ceo poker's post an actual lie.

--Zetack

[pig4bill]

Just an "untruth"?

She belongs in politics.

[PokeReader]

They clearly do not really understand how these thing are normally run. They say it was listed clearly on the website, (which obviously many people won't see), but at the tourney site they listed it as 2500 +100, as the 100 was going directly to the Venetian for the tourney. They did not list the 3% being taken out for tourney personnel, or the 6% that was being passed throught the Venetian to the CEO Tour, or the 5% that was going to this charity, whatever it was. Unless you read the fine print, you thought is was a 2500 +100, but I think they were just incompetent, rather than intentionally deceptional.

They also seem to have set up some accounts so they could comment positively on the tourney. There were like five accounts that signed up recently at the same time, and were clearly writen by the same person, and were making a bunch of bad postings all on this forum last night. One of which being the one who said he would be happy paying 18% because he wanted to be the "CEO of Poker".

[Sponger.]

[ QUOTE ]
One of which being the one who said he would be happy paying 18% because he wanted to be the "CEO of Poker".

[/ QUOTE ]

I'd pay 19%!

[Zetack]

[ QUOTE ]
They clearly do not really understand how these thing are normally run. They say it was listed clearly on the website, (which obviously many people won't see), but at the tourney site they listed it as 2500 +100, as the 100 was going directly to the Venetian for the tourney. They did not list the 3% being taken out for tourney personnel, or the 6% that was being passed throught the Venetian to the CEO Tour, or the 5% that was going to this charity, whatever it was. Unless you read the fine print, you thought is was a 2500 +100, but I think they were just incompetent, rather than intentionally deceptional.



[/ QUOTE ]

Yes, I'm with you there. And I agree that for the players it seems pretty clear many of them were unaware of the real juice, and that you can't put up a sign that says $2500 + 100 and then take more money out of the $2500.

But what I was responding to was the poster that said that according to the Ceo Pokers POST $2500 went to the prize pool and asking if that was a lie. I was merely pointing out that the relevant post from Ceo Poker did not say that $2500 went into the prize pool, and that Ceo Poker aknowledged in its first post in this thread that in addition to the + $100, money was taken from the $2500.