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Friday, April 28, 2006 

Ignorance is Bliss

I was going over one of the Poker Filipinas articles on the PPT million peso championships, and i came across this comment from a person named jojo. After reading his comments, it became really evident that a LOT of people are really completely ignorant about what Tournament Poker is all about.

To point out some specific comments, he said "Posting of blind structure is immaterial to me..Knowing that it is a two day event means that it won't be aggressive. Simple..Its a test of stamina and skill...". How can the blinds structure be immaterial? It is one of the most aspects of a tournament, if not THE most important, since this is where you will know how much room there is to play and how fast the structure will be. It is the very backbone of the tournament itself.

Another comment that REALLY amused me was "They would have to generate not 80 but close to 100-120 players because I figure the true cost would be around around P14,000 -P16,000 per head after all marketing and operating costs are deducted...." What the hell is this guy talking about?! You absolutely do not deduct "marketing" and "operating" costs out of peoples buy-ins. That is why there is a "Fee", which is usually indicated along with the buy-in (eg. 1000 buy-in+ 300 fee, etc.). A person who buys into a tournament expects his ENTIRE buy-in to go into the pot, since it is essentially his investment. Running a tournament doesnt really cost that much in the first place. And since PAGCOR is using their Casino as a venue, i'm pretty sure that they got a good deal for that.

I've also encountered people who doesnt even question the payout structures and the like. They just focus on the fact that they are giving away 1M to the winner. Well, they are not "giving it away" because that money will come from the players buy-ins. A tournament organizer is not like a boxing promoter or something, "paying" winners. The winners are paid by the combined prize pool from the collective buy-ins of all players who join. An organizer simply hosts the event for the players, providing the venue, structure, and equipment needed for the game.

There was even one guy who was rationalizing that there should be an "option" to buy in at a later stage of the tournament at a more expensive price. I really couldnt understand his reasoning, and it was really evident that he didnt understand what he was talking about either.

A poker tournament is a very simple concept. First of all, it is a great equalizer, since everyone has a fixed amount of starting chips and buys-in for the same amount from the start. Everybody's buy-in goes into a "pot". The pot increases the more people join, and unless there is a maximum number of players allowed to join, the pot can grow and grow to huge amounts. Take for example the World Series of Poker. In 2004, about 2,500 players coughed up $10,000 for the main event, a No Limit Texas Holdem tournament. That gave the field a chance to win a first prize of about $5.6M! BUT, they also payed 10% of the field, about 250+ players. Ranging from $3.5M for 2nd place, gradually decreasing down to about $12,000 for those who finished in the bottom 200+ place, etc, etc. The next year, 5,600+ players joined the main event! This made everyone who made it to the final table a millionaire, as 9th place was $1M, going up to $7.5M for first place. This is a perfect example of how tournaments are run.

The sad thing is, most people dont bother to know. People, do some research! Join tournaments online and see how they do it! Become more educated in the technical aspects of the game since it is your money that you are putting on the line when you join a tournament.

I heard that the PPT tourny might reach 100 players. It will be a very sad day for poker in the philippines if they decide to pocket the rest of the buy-ins instead of adding it into the pot (which is most likely what will happen). It's just plain wrong, a pure in your face rip-off.

I am secretly hoping that they do the right thing at the last minute, and that their event becomes a success not juts for them, but for the players and the whole community. I know it will be the best for the poker scene in the RP.

I'll be crossing my fingers, but i'm not betting on it either.

LOL! Kap Xiao! Ya Gong! Ke Gao!


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buwiset nga eh, i just leanred from cardinal earlier that they are selling seats for 10k. so right now, im tyring to confirm this information and tyring to raise that amout coz in my opinion, mejo ok na siya for 10k, sayang naman.

saw their blinds structure too a while ago over at their site. mejo mabilis nga, turbo nanaman, pero malaki naman yung stack mo so i guess ok lang. mali padin siya IMO just to clear things up.

if 10k na nga lang tlga and i raise that amount before noon, lalaro na ako. hehehe

bro, your 10K wont even be in the pot.

nakaksilaw talaga yung 1M eh noh.

I am still hoping that they do the right thing and put the money into the pot.

it will certainly give their event integrity and credibility.

i saw their structure, and it is not that bad at all, and it is good to see that they learned from their past mistakes.

but still, in principle, if they DO put the excess buy-ins in the pot, it will still be unfair. IF i buy in 10K now, and a whole bunch of other people bought in for 20K, i have an equal chance of winning as much as them, so it will be really unfair to them.

i got word that the 10K is NOT TRUE DAW.

and i also got word that 160 playes are officially entered right now, as the tournament is going on as of this moment.

and i also got word that NONE of the excess buy-ins are going into the pot.

where will the P1.6M go?...

WOW PARE... 1.6m PROFIT! NOW that's how you run a mean tourney!!!

pareho na silang milyonaryo ng mananalo ng 1st! hahaha (1 mil for you 1 mil for me) hahaha

160 players tapus di lumaki yung pot?


buti nalang di ako nakasali

yup. sick shit.

oo nutsboy, di nila ipapasok sa pot yung extra, as expected. sa iba papasok, sa bulsa nila.

they cant say itll be used to cover expenses because running a tourney doesnt cost that much.

imagine if you make 10th place, you just beat 150 other players, and you win 40K. wow.

I still have to get a straight answer on their costs? In their satellites? We know they made tons of money there. Advertising? X-deal with all the media outfits and Solar. What are their huge costs that they are raking 50% of the prize pool?

Idol sila, I don't think I can even think about doing something like that and still show up for the event. Why take half? Takbo mo na yun buon 3.2m, ganun na rin yun eh.

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  • The best poker I've ever played has always entailed peace. A relaxed comfort. Eyes open, ears open, radar up. Absorbing my opponent's every message. Taking them as they come. Not mixing what those messages are with what I want them to be. It's like an aerial view. A view from above the myriad luck-dependent reactions of those many people who never gain such a peace. And when you gain that view, that peace - when you'd rather have the truth, no matter how disappointing, over a false hope, no matter how desirable - then you're a player. The hand you're on slips into a stream of thousands of other hands, no one of which, because of your lofty view, seems unduly important, no false fearful emotions rise within you. When you gain the peace of lofty perspective, you're a player, and when you're a player, you're free.- from "King of a Small World" by Rick Benett
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