Quote:
Originally Posted by RedOak
This is a common error made in tournament payouts. The amount paid to 1st should be the same whether 15% or 10% of the field is paid. When going from 15% to 10% what should change is the amount of the min cash. Usually a move from 1.5x to 2.0x the buyin would be proper. But 1st should still pay the same regardless. The fact that 1st often drops when going from 10% to 15% payouts is a sign that 1st was too top heavy to begin with in the 10% payout structure. In general, most tournament today still pay about 20% too much to 1st place for field sizes over 300 players.
The 1st year colossus paid $638k to 1st with over 22,000 players. But many players that won 3k to 8k got over 1k more than they would have had 1st been pushed up to $1 million. Poker is better served by over 360 players getting an extra 1k+ than one person who is already getting 638k receiving 360k more. That being said, $638k was lower than many player's expectations. But $1 mil is an overreach as well. A more balanced figure would be around $750,000 with 22,000 players.
I'm not sure I agree with the "poker is better served" part. Of course, if all tournaments had flatter payout structures, more players would have better ROIs and it would be better for the long-term health of the game. But we're not talking about all tournaments. We are talking about a small subset of "special" tournaments. Players who only play a few tourneys a year, and in particular those who do so at the summer WSOP, are looking for the biggest bang for their buck. They want to see a big number on top, even if they are extremely unlikely to reach it. It gives them something to dream about, and get excited about. A summer WSOP tourney with an $11MM prizepool only having a $638K first prize is borderline ridiculous. Even $1MM is too low.
IMO, Summer WSOP tourneys, in fact all the big-field major events throughout Vegas in the summer should be top heavy and bottom heavy when it comes to payout structure. It should be meaningful to cash. It should be meaningful to get to the final table. And it should be extremely meaningful to finish at the top. Of course, this means the middle will get squeezed. That's ok by me in these signature summer events.