World Poker Tour Question!?

[Ryan]

well, i think it is a $10,000 buy in for the turni that goes to the final 6. Someone went all in,and lost, but it said his earning were $126,000. ,Did he walk away with $126,000?
How would he make money if he went all in and lost?
Also, why don't people seem mad when they loose like 2.8million? they just walk away.

 

[Ronald]

Good evening Ryan,


The world poker tours play with MONOPOLY MONEY. I played in one poker tournament about twenty (20) years ago. I saw what a joke it was back then. But I knew it was the future. I call tournament poker, "Television Poker". Today's young poker players, like you Ryan, think this is normal poker. Tournament poker brings in new blood, meat, or suckers into the game of poker because people see poker on television. It looks easy. And it is easy because the players actually play with Monopoly money. Tournament poker is great for the game of poker, and people who make a good (like me) living at real poker. What do I mean, "Television Poker"?

In tournament poker, the producers/sponsors have to speed up the game and make it come to an end within their time table. At the start, the game is normal. Half way through the contest, because of the increased blinds, luck plays an increasingly bigger part of the game. They keep increasing the Blinds. Some tournament blinds will start at $100 and $200. Half way through the tournament the blinds are up to $1000 and $2000 or higher. This means a poker player would be losing $3000 in monopoly money for each round he did not play. Near the end, because of the huge blinds, tournament poker games become 99% luck. Players end up playing hands that they would never/not normally play.

Tournament poker makes the producers big money, the sponsors big money, and a few players money. It is one big party. Between the thousands of casino and internet poker tournaments played each year, I really do not think anyone knows how much money these sponsors are raking in? Everyone has their opinions, but I call tournament poker a joke.

I call all these tournament poker sponsors a joke. How do you crown someone the World Poker Champion playing with monopoly money? I would love to see these so-called champions play with their own real money. Real poker is TOTALLY different when someone throws real money, not monopoly money, in the pot and your rent is due the next day. That is what real poker is all about.

In some television tournament poker games, half of the players receive money even when they lose. In the 2009 Championship Tournament, Chris Ferguson ended in 561st position. He received a check for over $23000. Ryan, this is what you are talking about. The players are actually playing with Monopoly money. The payout is in the pool of real money. This is the reason they are not upset. This is the reason they go all in and lose, yet make money at the end. How would you like to finish in 561st position and still go home with $23,000 “big ones”?

The big danger in tournament poker is people getting hooked. I have strong feeling players, especially internet players, are too young and they are becoming something like horse players.

My answer to you, Ryan, Texas Hold-em tournament poker is NOT TRUE POKER. It is like Lotto or raffle in which people put their money into a pool in order to win the prize. The prize is a pot of real money.

Dictionary definition of the word “Raffle”: A form of lottery in which something is put up as a prize goes to someone among a number of persons buying chances to win it.

You and your family have a nice day. Peace, from Los Angeles

 

[James]

In a tournament setting, you pay x number of dollars to enter, and in this case it was $10,000. The World Poker Tour follows a freezeout format, meaning that you cannot rebuy chips and once you run out of chips you are eliminated. The chips that people are playing with are not real money (real money chips are used in cash games on shows like High Stakes Poker), as they are using tournament chips. The tournament has a cash pool from the entry fees, and the top people all make a lot more than their original buyin. So when someone is eliminated, they finish in a certain place, only the top couple percent will cash in the tournament, so they will all make a certain amount of money. The 2.8 million chip hits are taken lightly cause they are not losing 2.8 million dollars, but rather 2.8 million tournament chips, and at that stage in a tournament they will already be far enough to be "in the money".

So yes, when the person got eliminated they did make $126,000 and did walk away with it because they made it far enough where they were "in the money".