Quote:
Originally Posted by Boss716
Frankie, if you guys are comfortable running $100 $5k gtd mtts, why not throw in a bigger buy in, like a $500 $25k? Maybe once a month?
It's not an issue with covid since it would get a similar turnout to the ones you are already running. Comes down to risk with the guarantee. With people starving for live poker and all major competitors in the area still closed, there's no way it wouldn't hit , it would probably at least double the guarantee. A one day bigger buy in mtt on say a Saturday or Sunday would be a big hit.
I know you won't admit, but the mtt scene at TS was dying the few years before covid. Shrinking buy ins, guarantees and number of people traveling for the events. Some of this may have been intentional. But this would help put TS back on the map a bit and get people coming back.
Hi Boss, we have considered larger events but here is the sticking point. Right now we only open our tournaments with 12 tables 7 handed and filter alternates in after the original 84 seats are sold. keep in mind we have to sanitize rails and chairs in between guests entering and leaving the tournament so Covid protocols do play a roll. We could certainly and easily make the $5K guarantee a $10K guarantee (average prize pool has been around ($12K) but we know that we can only put 140 to 150 guests through the tournament during the entry time (2hours). If more people than that show up to play, and they would with a bigger guarantee, they will only be disappointed and upset they did not get in after traveling here to play. Why would I knowingly do that to our guests. It wouldn't be fair to them.
The same holds true for a larger event, its not about risk, I have no doubt at all we could do a $25K for even a $250 buy-in and hit that number easily...minus vig, it would only need to draw 112 guests. But based on our current seating system, which was put in place due to Covid, if 250 to 400 guests show up (which again they will for a larger Guarantee) and we can only seat 150 its not going to be a positive experience for those turned away.
On the MTT point, its not a question of admitting to anything. I have addressed this issue many times on this thread...staffing, hotel rooms, saturation etc...The days of $100K to $250K events dwindled due to the increased amount of events held on the East Coast that did not exist prior to more poker rooms (about 10) opening up in New York and neighboring states during those 3 years you mentioned. Prior to that, we drew guests from over 30+ states to our events. Once guests had the option of playing in similar events more often and closer to home they took advantage of that opportunity. You can only play in so many events in a week, month or year.
As far as dying???...we held a $25K/$250 buy-in to $75K/$300 buy-in tournament at least once a month every month and drew anywhere from 250 to 500 guests for the events over the past 3 years prior to Covid. Our guests who attended these events let us know they really enjoyed the tournaments and price point. Until then, many had felt priced out when events were $500 to $1,000 buy-ins. It all comes down to what the majority of our guests want and what they enjoy attending.
All that said, no one looks more forward to the time where we can increase the Guarantees and number of events that we hold than I do. Once the Covid smoke clears, I'm sure we will look to bigger events with our tournaments just as we have gone bigger with our promotions.
Thanks for listening!!! As always, if you or anyone would like to further discuss my points and/or response, please feel free to visit me in the poker room or call the office 315 361 7629.
Always a pleasure Boss, hope to see you soon!...Frankie