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The Chip Board Archive 03

Re: WSOP question-Gene
In Response To: Re: WSOP question-Gene ()

Actually super satelittes are paid out in $10,000 worth of tournament buy-in chips and cash under $600 to as many players as possible. Sometimes the entire final table gets the same prize.
I have not been around the payouts in a few years, I am assuming they are still the same. Andy can confirm or tell us different.

This payout complies with the IRS and avoids any W2G reporting on a satellite win. It also puts as many players as possible in the final $10,000 buy-in WSOP.

Not meaning to toot my own horn, but I started the mulitpul seat winners in Super Satelittes at the FQ's in the late 80's. I put a $20 entry fee on them. Unheard of at that time. Jimmy Albrecht, WSOP director, told me the players would never play under those conditions. They wanted one big winner and would not pay the big entry fee. (This was before the IRS got involved in poker) After watching my success at the FQ's for 3 years (we had all of his players standing in line to play) Jimmy called and asked for the format. I gave it to him with a big <g> on my face. We both ran them and had players standing in line.

Messages In This Thread

WSOP question
WSOP Answer (Poker Content)
Re: WSOP Answer (Poker Content)
Re: WSOP Answer (Poker Content)
Re: WSOP question-Bob
Re: WSOP question-Gene
Re: WSOP question-Gene
Re: WSOP question-Gene
Re: WSOP question-Gene
Re: WSOP question-Gene

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