The poker room in The Venetian has been hosting the popular DeepStacks Series, that offers lucrative rewards for the most successful players. Players from all over the US and beyond like to take part in this tournament, and it has become somewhat dear to their hearts.
However, The Venetian now plans to host a new poker series which aims to attract different crowds, and the players who like the DeepStacks Series do not like that idea at all. One of the main reasons for that are the capped prize pools.
One of the tournaments is called $225,000 Lucky Shot Poker Series & Drawing, and it should run from Oct. 21-27. A total of seven poker events will take place, and the most important event will be a $250 buy-in no-limit hold ’em, which will have six flights and a guaranteed prize of $150,000.
The poker players who like to play in The Venetian went mad mainly because they were able to study the structure sheets, which showed a lot of info that they don’t seem to like. The new tournament will feature a very questionable prize pool system and unprecedented rake.
Basically, the sheets suggest that all funds that are collected to meet the $150,000 prize pool will go to the pool. However, all funds that surpass that number will become the property of The Venetian Poker Room.
In other words, it doesn’t matter whether they get 600 or 900 entries as the proposed amount will remain the same. This is quite unorthodox as many organizers usually just take rake rather than completely capping amounts, and that’s what made poker players really furious.
According to Jeff “Boski” Sluzinski, one of the players, if the tournament managed to attract 1,200 players, half of their buy-ins would go to the house, which is quite outrageous.
Inspired by Slot and Table Games
It seems that the new poker tournament is not at all designed to attract poker players, but rather players who enjoy other casino games such as slots and table games. In these games, tournaments usually have fixed prizes, meaning that they will not change if the amount of buy-ins exceeds the prize amount.
Casino players usually love various promotions and drawings, which include playing tournaments with fixed final prizes. The entire tournament is designed to have a low buy-in but still offers great prizes for participants. One of the ways to also receive the prize is by drawing!
What poker players worry about a lot is the fact that many players who apply for this tournament may not actually have an idea what percentage of their buy-in actually goes to the house. On the other hand, The Venetian knows its target audience and doesn’t worry about it that much.
Some poker professionals, including one of the best content creators in the poker industry, Doug Polk, have started the BoycottTheVenetian campaign in order to fight the proposed terms for the upcoming poker tournament.
Check Out Other Related Posts on 4Flush
100% up to $3,000 Bonus
Bovada is our most recommended ONLINE CASINO and POKER ROOM for US players with excellent deposit options. Get your 100% signup bonus today.