[Update] $100,000 Heads Up Blackjack Tournament: Golden Nugget (Las Vegas, NV)

$100,000 Heads Up Blackjack Tournament
Golden Nugget - Las Vegas NV

6/25/2010 to 6/27/2010


User deltaduke just posted an update to this event on the Event Calendar.

Changes posted:

Code:

Added details (Hybrid format.  Top 56 accumulation scores advance along
with 8 wildcard drawing winners to 64-player Heads Up
competition.
You play against one player each round.  Win and you'll get
prize money and advance.  Lose and you'll get a consolation
prize and be eliminated.
Friday, June 25th Cocktail reception & registration
Saturday, June 26th  Continental breakfast, Tournament 
round 1 and $500 rebuy round.
Sunday, June 27th  Continental breakfast, wild card 
drawings, and tournament day 2.).
Added prize details (Additional prize money is won along the way, as you win 
each round.
Round 1   Top 56 scores  $250
Round 2   Win  $150.00  Lose  $100
Round 3   Win  $175.00  Lose    50
Round 4   Win  $200,00  Lose    50
Round 5   Win  $250.00  Lose    50
Round 6   Win  $300.00  Lose    50
2nd Place is $15,000 plus round advance prizes

Also, 11 drawings for $500 each and 10 drawings for
$100 promo chips.).

Event Details after this update

$100,000 Heads Up Blackjack Tournament
Golden Nugget - Las Vegas NV

6/25/2010 to 6/27/2010


Details:
Entry Fee: $500.00 USD (Reentry $500.00)
Hybrid format.
Phone: 800-634-3403
Details:

Code:

Hybrid format.  Top 56 accumulation scores advance along
with 8 wildcard drawing winners to 64-player Heads Up
competition.
You play against one player each round.  Win and you'll get
prize money and advance.  Lose and you'll get a consolation
prize and be eliminated.
Friday, June 25th Cocktail reception & registration
Saturday, June 26th  Continental breakfast, Tournament 
round 1 and $500 rebuy round.
Sunday, June 27th  Continental breakfast, wild card 
drawings, and tournament day 2.

Prizes:
Total Prize Pool: $100,000
1st=$50,000 / 2nd=$15,000
Details:

Code:

Additional prize money is won along the way, as you win 
each round.
Round 1   Top 56 scores  $250
Round 2   Win  $150.00  Lose  $100
Round 3   Win  $175.00  Lose    50
Round 4   Win  $200,00  Lose    50
Round 5   Win  $250.00  Lose    50
Round 6   Win  $300.00  Lose    50
2nd Place is $15,000 plus round advance prizes

Also, 11 drawings for $500 each and 10 drawings for
$100 promo chips.

See the entire calendar entry for this event.

See all events at Golden Nugget

Thank you deltaduke for contributing to the calendar!

 

Casinos seem to delight in presenting information in the most complex form possible!

After much head-scratching, I think I understand the advertised pay structure in a way that adds up to $100K.

The payouts would be -

Final (Round 7)
1st: $51,325
2nd: $16,325

Round 6 losers: $1075
Round 5 losers: $825
Round 4 losers: $625
Round 3 losers: $450
Round 2 losers: $350

Eight of those paid will receive $250 less than the above figures, because they advanced to round 2 via a wildcard.

Adding the 11 $500 drawings to the above gives the $100,000 total, if I've got my maths right. The 10 $100 promo chip drawings would therefore be in addition.


To show my working -

Code:

R1: 56 * 250
R2: 32 * 150  +  32 * 100
R3: 16 * 175  +  16 * 50
R4:  8 * 200  +  8 * 50
R5:  4 * 250  +  4 * 50
R6:  2 * 300  +  2 * 50
R7:   50,000  +  15,000
Plus: 11 * 500
--------------------
         100,000
--------------------

 

Sounds interesting

Not crazy about the Hybrid format at first, but all in all I like the format. Wish I was able to attend this event. Good luck to all those who will be playing.

 

Don't you think the pay structure is too top-heavy?

Other than the two finalists, everyone else who qualifies for the knockout rounds just gets slightly more or less than their buyin back.

 

Not quite that much, I'm afraid. I got the mailing on this one the same day it was posted here. From the flyer:
"Players with the top 56 scores win $250 and move on to heads-up play where you're guaranteed to receive an additional $100."

It gets even more interesting when you read the qualifying round rules. Also from the flyer:
"Once Round 1 is complete, rankings will be posted and you'll have the chance to improve your score in the $500 Re-Buy Round."

So, it appears to me that a player who doesn't enjoy full comp status will have to lay out a total of $1,000 for both qualifying sessions. From the chart of prizes, you have to win round five of the heads-up play to break even, that'll get you $1,025 in total advancement awards. This means you have to make it to the final four.

 

That's what I was trying to say. It's a matter of plus or minus a relatively small amount (-150 in this case) for all but the two finalists, then a jump into the thousands.

I think it would be better to pay 1st place a little less (and perhaps also not pay the first-round knockout losers anything) in order to make all the prizes significant and also have a major step up in prize money at each level.

I would assume that means you get to rebuy and try again, rather than add to your existing score. So you aren't obliged to play both sessions.

The cost of entry, plus possible reentry certainly does negate most of the prizes on offer, though.

I made it $1,075 in the table I posted, though I could easily have made an error.