The Venetian invoked the wrath of poker community with a new series of Lucky Shot Poker tournaments. 7 tournaments will be held within the framework of championship, which will start on October 21.
Instead of classic guarantee for poker tournaments, the term “total prize pool” is used at Lucky Shot Poker. This wording is given at Lucky Shot Poker page in the network.
“100% of all funds collected will go to meet the $150,000 Total Prize Pool. Any funds collected above and beyond the total prize pool will be the sole property of The Venetian Poker Room.”
Regardless of the amount which will be invested in “total prize pool” by the players, it will remain at the same level – $150,000. It means that prize pool isn’t changed, even if it breaks the guarantee. Prior to this, not a single poker room had conducted such experiments. Such guarantee limits the players' potential and makes the rake size unlimited.
Let’s consider the example: the tournament with $250 buy-in and $150,000 total prize pool should collect 600 entries to cover the guarantee. If more poker players take part in the tournament, the prize pool won’t change. The payment for each entry after the 600 ones will be given to casino, and it means that players who paid buy-ins starting from the 601th will simply pay 100% rake.