Discussion in 'Blackjack Events (Other areas)' started by gronbog, Dec 11, 2015.
Discuss the $50,000 Blackjack Tournament event at Atlantis Bahamas in Paradise Island - Bahamas.
This looks like a scaled down version of the 100k tournaments they've held for the past few years. They've dropped the purse to 50k, but kept the entry fee at a very high $750. Compare this to the PCA-sponsered event in on January 8 which has a $100k purse for a $500 entry fee.
A summary of both events can be found at http://www.atlantisbahamas.com/casino/tournamentsandevents
Thanks for posting. I noticed the difference between the two and was wondering about the logic. I guess the sponsor is different.
are all places cash in the final table? thanks~
Good question. I will be calling them soon, since I plan on entering the next event on Nov 12.
I just got an email with the prize details
Prizes paid in cash (US dollars).
That's top-heavy. I wonder if they support a chop?
thanks for the info !
I just updated the calendar entry for this event. They have returned to a table elimination format with the number of advancers from each round TBD. There may also be wildcards to fill seats in the second round, also TBD.
I just got back from the Bahamas. The event did return to the elimination format, as promised.
Starting bankroll was 5,000, min 100, no max in increments of 100.
15 hands per round.
First round was 1 advancing from 5 at each table (30 tables in 3 sessions)
There were 10(!) wildcards into the semi final as well as 2 high rollers invited directly into the semi-final (42 players)
Semi final was one advancing from 7 at each table.
Final table was 6 players
Entry was $750USD, but most of the players were comped in high rollers. Rebuys were $500USD.
The Bahamas recently abolished their hotel room tax and replaced it with a VAT tax of 7.5% on most purchases and services. I was surprised to discover that this includes the tournament entry and rebuy fees
I had the lead and had everyone high and low (4 other players in contention) on the final hand of the first round on my first attempt. 3 opponents busted but the final player half swung me to advance. On my rebuy attempt, a 4 stage progression for the late lead failed, including pushing a blackjack, leaving me with no chips.
The weather was great for all 7 days I was there and I did ok at the tables, both of which served to soften the blow.
Thanks for the update on this tournament Gronbog. Glad you had a good time.
So, the total entries value (soft and hard) were 150x$750 + 50x$500 = $115,000 with $50,000 prize pool.
For the average player the estimated cost was $1,150 and the EV of $492
Even for the top (about) five percent of bj tournaments experts it comes to be slightly negative proposition.
I am glad that you enjoyed other aspect of the trip.
Hey Yama --- nice to see you posting.
The re-buys were not a separate stream into the semi-final, but rather simply the selling of empty seats at a discount. Based on what I observed, there were only 5 rebuy seats sold. From what I could tell by catching a glimpse of the registration sheet, almost all of the players were comped in. I would estimate that only 10 players paid to enter.. So the casino probably only collected $750x10 + $500x5 = $10,000
For the average player, with a full tournament, I get the EV as $50,000 / 150 = $333.
With the VAT added:
the cost of buying into the tournament was $750 + 7.5% = $806.25
the cost re-buying into the tournament was $500 + 7.5% = $537.50
I play this event for a few reasons:
We go there almost every year at this time of year regardless of the tournament, just for a vacation
We generally stay for at least a week and I am usually able to cover the cost of the tournament entry with my table play, while keeping my spread "polite" so as to keep the offers coming.
The skill level of the field is extremely low. Most over bet their bankrolls and the rest are caught completely off guard by the end-game strategies used by the (few) skilled players
I feel that, over time, I will overcome the high cost of entry, although luck has not been on my side yet.
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