The Venetian event with fixed guarantee of $150K was held after all
In September, it became known that the Venetian would hold a tournament with the fixed prize pool of $150 000. This situation outraged the poker community, because if the guarantee were beaten, then the organizers would have taken all the following buy-ins. Despite the poker players’ calls to boycott this event, it has been held, after all.
The Lucky Shot Event # 1 buy-in amounted to $250, and there were 645 entries in total. Players stopped registering for the tournament before rake reached the usual percentage for such events. After the guarantee was covered, 45 more players registered in the competition.
As a result, the event with the guarantee of $150 000 formed the prize pool of $161 250, which means that the organizers received $11 250 rake.
It turns out that the tournament rake was 7,5% and this is a fairly small figure, since the rake is 10% at most prestigious series.
For example, in the WSOP Europe events for 225 euros, the rake was charged in the amount of 25 euros. The WPT tournaments are regularly held with 10% rake, and at the EPT Sochi 2019, the rake in some events was even slightly higher than 10%.
The winner of the Lucky Shot Event became a little-known Portuguese player Diogo Bento. For the victory, the guy received $30 000 in prize money and this is the largest tournament win in his poker career.
It is unknown what the organizers wanted to achieve by offering such a tournament structure, but this time the players turned out to be craftier. Perhaps the tournament creators hoped that the players would be inattentive and continue to register with a minus EV for themselves, but everything was different.