As others have mentioned, strange choices by SPT. The rake of this $670 "Mega Satellite" is 13.1%. 3% of the prize pool or $18/entry is already being withheld for tournament staff gratuity, but then another $10 is charged for the dealers. To compare, the true Mega Satellites at the WSOP has a rake of only 11.8% despite the lower buy-ins of $330 and $550.
SPT uses the terrible unlimited re-entry format, where eliminated seniors can keep re-entering as often as they want as long as they are senile enough to repay the full 13.1% rake every time.
I think it's a bad idea to mention that the min-cash is only $1,000 as those eliminated on Day 1A are less likely to re-enter on Day 1B once it becomes obvious how bad the re-entry format is. "Why the f*** did I re-enter another $670 yesterday, and WTF should I spend a total of over $2K to possibly cash only $1K??"
While the average stack at the end of each Day 1 will be around 250,000, you will be shortchanged to only 50,000 chips on Day 2. Everybody's "M" will only be 37 at the start of Day 2, no matter how great you played on Day 1. Forty minutes later, that M drops to only ~22 for almost everybody.
Unfortunately for me, I am not yet eligible to play in the WSOP $1,000 Seniors Event and I probably won't be in Las Vegas during the three Survivor tournaments of the Venetian DSE III, so I may play this Survivor tournament instead.
Quote:
Originally Posted by madlondoner
Wow rake 582+88. The resetting of stacks will make it incredibly nitty as there is little advantage to be gained from making high variance plays. It is essentially a satellite.
Last edited by Nash_equilibria; 04-09-2014 at 12:34 AM.