You people all seem to forget. The 512 players paying $5,120,000 in entry fees were playing for just under $4,000,000 in prize money. The promoters are trying to take over $1,000,000 as "expenses" but in effect are trying to make the real steal here. This tournament is nothing but a scam and would make the promotors a fortune if they could ever sucker 500+ pool players to anty up $10,000 each. Pool players are smarter then that, this tournament is a no-go.
If anyone knows then could you tell me. Does the World Series of Poker take ANY money out of the tournament or does it have 100% payback of the entry fees? Does it even maybe add some money?
If a tournament ran for pool that was played on nice tight 9-foots, races to 15 on the A side and the B side, finals best of 3 races to 11, and payed back 100% of the money or maybe even added a couple hundred thousand, the tournament would very well be a success. Take a hint from the World Series of Poker and give away a really fancy bracelet or a chain and pendant that is one of a kind and handed out each year to the winner instead of a trophy. This item is worn by the winners of that tournament as it is a sign of huge respect and puts you in a elite company. This might actually work if they had done it right and had not tried to rip off the players.
The space where you run the tournament if it is in a casino can be very reasonably priced. They were going to run it in the brand new expansion area of Ceasars Palace in Vegas which is perfect. Truth is if you have all the top pool players in the game and all the players and backers willing to front up 10 large to play in a event you are going to have ALOT of money and gambling going on both in the casino and at the tables. Ceasars may give you the space for super cheap or even free at the right time since it will pay them off at the tables to get all those players in there.
Had it been done right this tournament might have been a go. The $168,000 payout in Tokeo got alot of players and while the entry was not $10,000 you have to arrange for travel and hotel in the most expensive city in the world. This tournament when all said and done would be not much more expensive to play in. Passes to get in to watch the event could be sold for $100 for the full event and seperate day $20 for the first day, $25 for the second, $30 for the third, and $40 for the last day and final 16 players or so. Have a expo type of thing and vendors and exhibitions as well and you can rent those spaces out, let the casino have drink vendors around and they can take the profits if they are giving you the space free. This would not be a impossibility. If you can do it with Poker it can be done with Pool.