GGPoker getting smacked for over $20m in overlays in WSOP Paradise

[Dan Druff]

GGPoker decided to make a $25k event a $50m guarantee, which I thought was foolish. Were they really going to get 2000 people to fly to Bahamas to plunk down $25k?

Doubtful, right?

Well, they didn't. Not sure if they can buy in directly on Day 2 (it's called the "WSOP Paradise Super Main Event"), but as of right now, they've concluded days 1a-1d, and only 1124 entries came to pass.

Uh oh!

That leaves GG currently on the hook for $21.9m.

If you want a good laugh, here is Vanessa Selbst taking a bad beat to get knocked out, almost berating the dude, and then choking it back. That's progress, I guess? She is known to be one of the worst sports in poker -- basically a lesbian Phil Hellmuth.

Embedded Tweet

https://twitter.com/WSOP/status/1868491327249240417

[Dan Druff]

... or not.

First off, there were 600 online players to this event, which wasn't well publicized.

That took it up to 1724 entries.

They got another 254 by extending the reentry period an extra hour on the final flight.

Then they removed the 3% for staff ($1.5m) from the guaranteed pool, making it $48.5m guarantee. This is bizarre, because now it pressures players to tip the staff if cashed (whereas before it's an autotip), so that also removes from what was supposed to be a $50m guarantee.

Anyway, they ended up with no overlay this way.

[JeffDime]

... or not.

First off, there were 600 online players to this event, which wasn't well publicized.

That took it up to 1724 entries.

They got another 254 by extending the reentry period an extra hour on the final flight.

Then they removed the 3% for staff ($1.5m) from the guaranteed pool, making it $48.5m guarantee. This is bizarre, because now it pressures players to tip the staff if cashed (whereas before it's an autotip), so that also removes from what was supposed to be a $50m guarantee.

Anyway, they ended up with no overlay this way.

A Pentagon audit has more transparency than how this fucking tournament claims to have covered this guarantee. There are less contortions done at a Cirque du Soleil performance than what GG has done in this clusterfuck.

The WSOP never seemed big on guarantees before to my knowledge. I know for the main event they “guaranteed” 10 Million for first place a few times. Basically meaningless because if they got less entries than their standard payout structure would pay a minimum of 10 Million for first, they would just payout the 10 million and everyone else would get less than their normal payout structure would normally pay.

Guarantees have become more and more meaningless as time has gone by. It looks like GG may have just officially put the stake in the heart of the meaning of the word.

But Druff if you can clarify this 1.5 Million staff payout contortion. If they actually removed that 1.5 Million without paying it out to the staff, that would be beyond scumbaggery. To set a precedent where they can take that 3% off the guarantee and not actually pay that to the staff is beyond disgraceful. Leaving the player’s all the responsibility is just shoveling more shit on the pile.

[Dan Druff]

I think I was a bit confused at first regarding the $1.5m.

I think they did pay the staff the $1.5m, and thus only paid out $48.5m in prizes.

Which is still shitty when the guarantee is $50m, but not as shitty as just cutting out the staff entirely.

$50m should mean $50m

[JeffDime]

I think I was a bit confused at first regarding the $1.5m.

I think they did pay the staff the $1.5m, and thus only paid out $48.5m in prizes.

Which is still shitty when the guarantee is $50m, but not as shitty as just cutting out the staff entirely.

$50m should mean $50m

It would be true scumbaggery at its finest if they didn’t pay the staff that 3%. But still, like you said 50 Million should be 50 Million. Next step is they will deduct the normal 10 percent juice to knock down the guarantee.