Sick addendum
by Adanthar on 07/03/07
I just realized I said '2 for 13' in my last entry but didn't explain what that actually means. Most people don't understand how ridiculous the tournament scene is, so think about it this way:WSOP tournaments, like most tournaments, pay the top 10% or so, meaning that I'm above average (not that the sample size means anything, heh.) However, obviously, only the top few spots really pay anything - the rest range from 2-10 buyins. To put it another way, instead of the 1 in 10 expectation of an average player, my 2 for 13 finish cost my backers ~13 thousand bucks so far.
This is by no means bad - it's basically close to breaking even (in fact, I myself will probably roughly break even on the trip after costs, because I'm up a few thousand in satellites, have the 3K from Matt for the Sunday Million help, etc., not counting the main event.) Nor are my results anywhere near the bottom. Of the eight people being staked by my backers, only two I know of have actually come out ahead thus far - not nearly enough to cover their combined buyins - and I'm probably third or fourth of the eighth on the ladder. That's not counting the 70,000 in ME $ they will be shelling out. There's an amazing amount of trading online cash for actual cash going on, several people I've always thought were good have left early due to losing their entire bankrolls (admittedly, strip clubs and blackjack pits have a lot to do with this), and this is all just the tip of the iceberg.
I personally know four people who are up $150,000+ due to coming out to Vegas. I also know roughly ten times that many who are down on their trips, including practically every single tourney pro I have talked to [minus the ones who actually have top 5 finishes - but the ones with a 7'th or 8'th place finish *still* often have a losing month.]
On the one hand, there's no question that over the long run, there is an amazing amount of money to be made here. On the other, it's all about buying the 'top 3 out of a pool of a thousand' lottery ticket, and, just looking at the percentages...that's potentially a pretty long dry spell waiting to happen. There are good reasons why so many tourney pros eventually wind up switching to cash.
Comments
Landlord79 says
Goot post, I think I stick to the local 'Shoe and just play ring games!!!07/03/07
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