Tourney Payouts in the 70's versus Now

[ironman]

Okay, let me chime in here. It is true what Jam says. In the 1980's we would always have at least one or two events a year with a first prize of $25,000 or more. Sometimes as many as three. And the typical pro tournament, like the Sands for instance paid $10,000 for first. That was when 10K was real money!

At the Sands, the entry fee was $300 with $20,000 in added money. With 100 players (about average back then), the total purse was $50,000 in the 1980's thru 1990's. It was a major event back then.

The larger events like the ones in Atlantic City at Resorts would have huge fields of players, as many as 357 one year. And with added money of thirty to fifty thousand, we could pay out as much as 35K first prize. At the Caesars events during the 1980's we had larger entry fees, as much as $1,500. But every player was guaranteed $500 back when they arrived. This way they would have money in their pocket.

With 128 players (which we got) plus $30,000 in added money, the purse was over 150K. First place was as much as $33,000, the first year Earl won. He also won a car worth over $10,000. In the last Caesar's tourney at Caesar's Palace, Earl won $25,000 in 1984. The players who played in the televised matches refused to sign the required releases, and the shows never aired. That was the end of the big Caesars events.

Keith did win $25,000 at the B.C. Open in 1985. I know because I staked him, and we split the money 50-50. The entry fee was $300 with 128 players and 30K in added money. Gary Pinkowski put this one on several times in the 1980's.

Even the World Series of Tavern Pool paid out $25,000 first prize to the winners of the 9-Ball and Eight Ball divisions in the early 80's. Yes, those were huge prizes back then. And here we are today. Only the World 9-Ball and the U.S. Open are paying big money. And maybe the World Ten Ball this year too.

And even in the 1970's and 1980's, there were a multitude of smaller added money events, like four and five thousand. They were held in bars and poolrooms across the Midwest and South for the most part. Players like Buddy could play in events like these nearly every week. First prize might have been anywhere from 1K to 2.5K. But gas was forty to fifty cents a gallon, and motel rooms were under $30. So if you went to a two or three day event and won $1,000 you were doing great.

Buddy made his living crisscrossing the Eastern USA for many years, and won more tournaments than anyone past or present, well over 200 total. It seemed like he was first or second in every one he played, with strong fields too, usually 64 players or more.

Great point about the world Series of tavern pool, IMO the best bar table events ever held.

I got 4th in the 8 ball one year and got back, I think, $6500 and the whole trip cost me $15.00. That is hard to beat.

 

[Fatboy]

I couldnt play hardly a lick in 86 and would go to LA from Sacramento and scuff around when there was a tournment at Hardtimes and awalys covered my trip, I never won a dime in that room but at the other rooms around LA back then as a C player I could make it work-gas,motel,food. Now I play better and there is no way I could cover my costs-not even close staying in the same joints eating the same food.

 

[8ballEinstein]

I remember Richie Florence tried his heart out to get pool on the radar. In '79 and '80 he hosted the Tropicana events in Las Vegas. He was prepared to have up to 1050 players show up in each division of 8-ball and 9-ball. Each player would pony up $600. Nobody can say Richie didn't have big ideas. In the end, the turnout was fairly low.

Next, he tried a professional event at the old Caesar's Tahoe. Jay already mentioned an entry fee of $1500. I think the first year, it was actually higher. With these kind of entries, you'd have quite a large prize fund. I think Richie decided to get out of this business after this effort but you got to give him credit for trying. I had the pleasure of being at these events, at a time when I first started playing this game.

But even then, the professionals at the time complained of difficulties in being a pro player. Pete Margo told me the players needed these large Florence-type events at least every month, not once a year. Pete saw the writing on the wall and got out of the game.

 

[jay helfert]

Jay, From what you have said, the added money WAS signifcantly higher relative to the cost of living than it is today. Was this money mostly put up by Casinos? Why then and not now? Did the promoters make money? If so, why does this model not work today. 50K added in Atlantic city in the 80's is the same as about $100K added today, but there doesn't seem to be too many 100K added events these days, why is that?

A few casinos were more "pool friendly" back then. And a few promoters like Richie Florence and Jack Johnson knew how to work them for bigger bucks. The promise of ESPN coverage also helped. And back then we weren't paying the television production costs.

The promoters have never made big money putting them on. I know that first hand. You have to love pool to produce a major tournament. If you're lucky you'll make minimum wage for your time when it's over.

 

[Scott Lee]

I agree with you...however, Pete had the chance to get into the video rental biz, just at the right time, with Pete Balner (then owner of Palmer Cues). They made a fortune, and then sold the business for millions!

Scott Lee
www.poolknowledge.com

Pete saw the writing on the wall and got out of the game.