Poker Articles

Why the TOC Will Survive
By Mike Paulle

The poker world has been set on its ear the last few weeks by some startling announcements. In only the last few days we've heard that Linda Johnson is leaving Card Player Magazine and that co-founder Mike Sexton will become a consultant for Tournament of Champions, Inc. Earlier, we found out that the Carnivale of Poker wasn't coming back and that the Hall of Fame at Binion's Horseshoe had been cancelled.

WHAT'S GOING ON HERE? Is the world coming to an end?

No, the world isn't coming to an end. Money is just speaking a little louder than usual. (As an aside, the startling announcements aren't through coming, either.)

Actually there are several interesting parallels in the four stories mentioned above that bode well for the survival of the Tournament of Champions.

We've all heard it said that there is no stronger force in the Universe than an idea whose time has come.

The TOC is an idea whose time has come.

Additions and subtractions from management personnel and ownership aren't going to deter players from participating in the TOC. In only two years the TOC has become a poker 'franchise.' This franchise can be bought and sold because it has value in the marketplace. Who owns or runs the franchise becomes less important than the product itself.

The TOC's success is in stark contrast to the Carnivale of Poker's failure. Unlike the TOC, the Carnivale was unable to reach 'franchise' status. So who owned it and where it was held became more important than the product. In the end, the Carnivale failed because it was just another poker tournament. The TOC is anything but 'just another poker tournament.' The TOC has already become a monument.

All over the poker world, for the last two years, players have started playing games they never tried before because they wanted to be ready to play in the TOC. Whether there were cars given away or dealers were toked wasn't going to stop players from wanting to be associated with Champions.

Yes, it's an expensive tournament, but the potential return on investment is significant.

As an example, The World Series of Poker used to have a 1st prize of 100 times the buy-in: $1,000,000 for $10,000. It wasn't until this year that the WSOP 1st prize went to 150 times the buy-in.

The TOC had a potential return on investment this year of 120 times: $239,400 for $2,000. This is serious money, folks, and it guarantees the participation of most of the top professionals. And if the pros are coming then most of us who want to beat the pros need to be there, also. It doesn't hurt the attraction of the TOC that a relatively unknown player -- Spencer Sun -- was this year's winner. It will only encourage those players who feel that some of the new games they've learned for the TOC may now be getting good enough to get them into the money.

Finally, how is the TOC different than the Hall of Fame?

In the Hall of Fame tournament, place is everything. It's held at Binion's Horseshoe in Las Vegas. It could only be held at Binion's Horseshoe in Las Vegas. The TOC could move anywhere. That flexibility is extremely important in our brave new world of poker.

There is a caution, however, that the TOC management should heed from the Hall of Fame. Binion's has now cancelled the Hall of Fame for the fourth time. Not even the TOC could survive that.

All the TOC has to do now, to survive, is to break even for a few more years. If that means increased buy-ins and fewer perks, so be it. Corporate sponsorship is coming as sure as the sunrise. Then it really won't matter who owns the TOC or runs it. The players will demand that it survive.