Monday, July 16, 2007

Anyone interested in winning a seat for a 2008 WSOP Bracelet event???

Got your attention, didn't I? Keep reading!! I'm not joking.

I had an idea...which is scary...

I am considering putting together a WSOP league. I've been following the various blogs (mostly pokernews.com which has been great) regarding the main event and I'm amazed at how many people are playing as part of home game leagues. Either they had a big tourney where 1st place was a seat in the WSOP or they set up elaborate points systems and held events for a year very similar to NASCAR and the point leader at the end went to the WSOP on behalf of the group. I am interested in tryin something like this. Here was my idea...

At every tournament hosted by one of our poker locals where the buy in is $40 or more ($20 or more in case of re-buys), we set up an optional system where players who want to be rated and earn points toward a WSOP seat pay an addition $10 per tourney (which does not go towards the prize pool for that evening). Each player who chooses to be a part of this then earns points based upon their finish. At the end of the year, the player with the most points gets to play in the WSOP event of their choice (assuming we won't have enough people and events to get someone in the main event). Everybody who has earned points during the "season" gets a small stake in that person's finish in the even. So, if there is 10,000 total points (all players combined) in a season and the player with the most has 4,000 (40% of the total points available), he or she gets to play in the event of their choice and gets to keep 40% of whatever they win while the other 60% is divided among the rest of the players who have earned points over the last year. Then a player who may have finished with 1,500 points would then get 15% of the action. The reason for splitting the pot is because there will be a number of people who (hopefully) will contribute to this pot and it's only fair that everyone have a chance to earn a return on their investment. I ran the idea across a few people who were at my last event and they all loved the idea and would be for it.

The biggest benefit to this is that I think we'd get better turn outs for our games because the more events a person plays in, the more points he or she can earn, the better chance he or she has of playing in a WSOP event. I'd like to try to get a game every three weeks if at all possible at random locations (whoever feels like hosting). This would give us over 15 events between now and the next WSOP and even if we just have 10 players at each event get rated, that's enough to get a player in one of the $1,500 events!

I haven't thought about a points system yet. PokerStars has a Tournament Leaderboard points system that they use for various things including the players who gets the most TLB points in a given week gets to play a PokerStars sponsored pro head-up every Sunday for $1,000. Their points system takes several things into consideration including buy-in, size of field and a player's finish. They have a sick formula that figures everything out.

Bonus!!!!

I just found their formula! They offer it in an excel download where you can see how they determine their TLB points. I doctored the formula to offer points to player who finish in the top half of a field (PokerStars only gives TLB points to players who finish in the top 15%). You can plug in any values you want! This could really work. Wow! So, um, points system has been established.

Think about it. Discuss it with some of your crew and let me know if you think this can work. I'd love to give it a try. I encourage anyone who is interested in this to e-mail me at railbirdsnest@yahoo.com and give me your input on this!

2 comments:

Kenneth said...

I really like the idea and would certainly participate. I do have a few suggestions:

#1 The points system should include all finishing places. There will be very little incentive to get in this system for people who think they are underdogs to finish in the top half of the field regularly or who play sporadically. If they know they will get some points no matter what and that will translate into a percentage, then they will be more inclined to plunk down the $10.

#2 While it might not be feasible to budget in travel expenses, excess monies should be used towards that end.

#3 A consistent schedule of events will need to be followed so that people that really want to give themselves a chance to win can plan accordingly to attend events.

Again, these are just suggestions.

**JZ** said...

Kenny,

Excellent ideas!

#1. That can easily be accomplished. No problems there.

#2. I assumed that we would not get the exact amount for bracelet event. I had three ideas. One was yours, give the excess to the winner to cover travel expenses. Two, rebates to all players based on the number of events they participated in. I'm sure there will be players who would rather get a couple bucks kicked back. Three, host a freeroll for anyone who participated throughout the year, base their starting stack on the number of points they collected during the "season", and use the excess money to cover the prize pool.

I'm all for letting the winner use the excess to cover travel expenses. That gets my vote. I don't think it would be 100% to the winner to make him or her pay his or her own way to Vegas and only get to keep 40% of their winnings. but, as with everything else. This can be discussed and left to majority rule. Damn, I love democracy!!

#3 Also agreed. We would need to have a more structured schedule so people aren't continuously asking, "When's the next game???" We could work out a calendar with anyone who is willing to host. Maybe something like 1st Friday and 3rd Saturday of each month? Possibly throw in a Sunday afternoon game now and then (I have the Sunday ticket....cards and football...mmmmm...)??

Great suggestions!! This is what I'm talking about! Thanks a lot, Kenny! I appreciate your feedback!