A Possible Way to Play in Big Tournaments
The last paragraph in this post has got me thinking. For micro limit players, it's very tough to get to play in a big online tournament. Personally, I tried several times before I was lucky enough to satellite my way into the $215 Sunday Million, and cashing in that tournament for over 3x the buy-in significantly helped my bankroll. It was a great experience, but one that I don't expect to participate in again for awhile. But just a little while ago I came across Brett's post, and it got me thinking.
Two major events in online poker are coming up. One is the Full Tilt Online Poker Series (FTOPS) in August and the other is the World Championship of Online Poker (WCOOP)in September. Playing in the main events of these series are likely way out of reach ($2500+ buyins), but there are several events that are $215 or $216 (depending on the site). Those buyins are out of reach for the average microstakes player, and probably for some small stakes players as well. Some may be able to afford to play, but not want to risk that much money on one tournament. So here's what you can do.
Find 5 other players who would like to play, but are under rolled. Each player puts up $36. You pool the money together, so now you have $216 for the tournament. You play a sit and go tournament. If you're all close by, you can play a live one, and even set a structure that is similar to the tournament you're going to be playing in. If not, have someone set up a private one (though try to keep the buy-in as low as possible, like $1+.20 since you don't want to be paying a lot of rake or a play money one if you can find it). Whoever wins the SnG gets to play in the event. Once the SnG is over the remaining 5 players have to send their money to the winner.
Here's the other thing. The remaining 5 players will not just be out $36. The winner will be playing on behalf of the whole group. That is to say, each player has a 1/6 stake in the tournament. The SnG was just for the rights to play in it and the opportunity to get a bracelet or custom avatar. There will still be some thrill involved for the other players because their money is on the line. Perhaps even set up an AIM chat or something to sweat and offer advice during breaks or whatever.
Obviously some problems could arise. First, you must be able to trust everyone in the group. If you're doing this entirely online, you need to be able to trust that someone isn't going to stiff the group if they don't get the right to play, or in the case of someone collecting the money beforehand, run off with the entire amount (or the winner running off with the prize money if he happens to make a big score in the tournament). Also, there could be some arguments that arise or ruining of friendships if the winner makes a bad play in the tournament that costs the other players money. There might even be tax issues involved if the winner happens to make a big score, I don't know.
If everyone can trust each other though, this can be a good opportunity. Last FTOPS the winner of event 1 ($216 NLHE) took home over $94,000. This season it should be more (prize pool is guaranteed to be $500k, last season it was $300k for this event). Even a mere cash gives players a few bucks profit and maybe a valuable poker lesson if an interesting hand or 2 comes up.
Cliff's notes:
Six players put up $36 to enter a $216 tournament.
Each player will get a 1/6 stake in said tournament.
Winner of a six player SnG gets the rights to play in the event and win any extras involved (bracelet, custom avatar).
Problems might arise; make sure you can trust everyone in the group.
Thoughts?
Two major events in online poker are coming up. One is the Full Tilt Online Poker Series (FTOPS) in August and the other is the World Championship of Online Poker (WCOOP)in September. Playing in the main events of these series are likely way out of reach ($2500+ buyins), but there are several events that are $215 or $216 (depending on the site). Those buyins are out of reach for the average microstakes player, and probably for some small stakes players as well. Some may be able to afford to play, but not want to risk that much money on one tournament. So here's what you can do.
Find 5 other players who would like to play, but are under rolled. Each player puts up $36. You pool the money together, so now you have $216 for the tournament. You play a sit and go tournament. If you're all close by, you can play a live one, and even set a structure that is similar to the tournament you're going to be playing in. If not, have someone set up a private one (though try to keep the buy-in as low as possible, like $1+.20 since you don't want to be paying a lot of rake or a play money one if you can find it). Whoever wins the SnG gets to play in the event. Once the SnG is over the remaining 5 players have to send their money to the winner.
Here's the other thing. The remaining 5 players will not just be out $36. The winner will be playing on behalf of the whole group. That is to say, each player has a 1/6 stake in the tournament. The SnG was just for the rights to play in it and the opportunity to get a bracelet or custom avatar. There will still be some thrill involved for the other players because their money is on the line. Perhaps even set up an AIM chat or something to sweat and offer advice during breaks or whatever.
Obviously some problems could arise. First, you must be able to trust everyone in the group. If you're doing this entirely online, you need to be able to trust that someone isn't going to stiff the group if they don't get the right to play, or in the case of someone collecting the money beforehand, run off with the entire amount (or the winner running off with the prize money if he happens to make a big score in the tournament). Also, there could be some arguments that arise or ruining of friendships if the winner makes a bad play in the tournament that costs the other players money. There might even be tax issues involved if the winner happens to make a big score, I don't know.
If everyone can trust each other though, this can be a good opportunity. Last FTOPS the winner of event 1 ($216 NLHE) took home over $94,000. This season it should be more (prize pool is guaranteed to be $500k, last season it was $300k for this event). Even a mere cash gives players a few bucks profit and maybe a valuable poker lesson if an interesting hand or 2 comes up.
Cliff's notes:
Six players put up $36 to enter a $216 tournament.
Each player will get a 1/6 stake in said tournament.
Winner of a six player SnG gets the rights to play in the event and win any extras involved (bracelet, custom avatar).
Problems might arise; make sure you can trust everyone in the group.
Thoughts?
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