The WSOP has a $10,000 buy in. Many of the participants win satellites to get in the tourney. The $1,000 idea was pulled from between my left and right cheek.
It was based on a slightly higher U.S. Open entry fee. The key is to have enough money coming into the U.S. Open via entries to increase the payout. The key to getting more entries was the concept of the satellites. Think of World Series of Poker. I can pay to get into the tourney or I can go the satellite route. There are online satellite tourneys but also live ones. In my area I can play in a satellite in Jax or Daytona. One satellite win and I advance to the WSOP. In my example there were several levels of Satellites. I can win a small one, to get to the next level. Place in the top x at that level, and you advance to the final U.S. Open.
Heck, look at golf. The U.S. Open is just that. It is OPEN. 8,680 people play in local qualifying events. 500 got to go to "Final Qualifying" from the locals. 814 people played in the Final Qualifying, with 66 advancing. Then there are 88 pro's who received exemptions from qualifying.
There top prize was $15,000,000! I think the model works!
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