PokerPages > Poker News > Poker News
World Series of Poker Flattens Payout to Money Finishers in 2007 WSOP Event
Wed, May 9th, 2007 @ 12:00am
Yesterday, World Series of Poker officials announced that payout schedules for the 2007 World Series of Poker have been flattened, so most players who finish in the money in the 55 events will receive a higher percentage of the prize pools than in 2006, but those reaching the final table will receive less.
After hearing complaints from 2006 WSOP players who spent many demanding hours of play over multiple days only to make the money with hardly any profit, WSOP officials have created a new payout structure for 2007 so money is not spread so thin down the line as it was last year.
"We discussed this concept with our poker operations team and with members of the WSOP Players Advisory Council and the consensus was that spreading the wealth is the right thing to do," said Howard Greenbaum, regional vice president of specialty gaming for Harrah's Entertainment, Inc.
"The new schedules are designed to increase the rewards to players who finish in the money but don't reach the final table."
He added, "Our goal is to keep more money circulating among more people in the poker community."
The new payout schedule still has the same number of players cashing in an event based on the number of entrants, but it flattens the amount paid out to players who finish in the money.
"Overall, 846 players last year would have won substantially more money, in some case more than double what they collected in 2006," according to the WSOP announcement.
But the redistribution means that top prize winners will receive less than they would have in the old structure.
To illustrate the effect of the new payout structure, the WSOP announcement included a comparison of the actual payouts for the 2006 Main Event with what they would have been under the new payout schedule:
"The 2006 Main Event would have paid $22,266 for 873rd through 775th places, up from $14,605 or $15,512. Places 82 through 73 would have paid $126,173, up from $66,010. First place would have paid $10,028,715, down from $12 million, while second place would have been worth $5,442,769, compared with $6,105,900."
The new payout schedules are posted at www.worldseriesofpoker.com and indicate the percentage payouts for different numbers of players for different games.
Click here for the complete schedule of each of the 55 World Series of Poker Events to be held at the Rio All-Suite Hotel & Casino in Las Vegas beginning June 1 and running through July 17.
Discuss this article in our forum
Print this articleMore Poker News Articles
PokerStars to Sponsor Irish Poker Championship
12am Wed Mar 31st, 2010
PokerStars.com, the world's largest online poker site, just announced that they will throw their substantial weight behind one of Ireland's major poker festivals, The Irish Poker Championship (IPC), as part of the new PokerStars.com UK and Ireland Poker Tour.
UIGEA Delayed 6 Months in Temporary Victory for Online Poker
12am Thu Dec 3rd, 2009
Days before the December 1 deadline for implementing the UIGEA, the U.S. government announced a six-month postponement of the poorly defined anti-gambling regulations. The U.S. Department of the Treasury and the Federal Reserve Board jointly released a statement moving the deadline for UIGEA compliance to June 1, 2010.
Fabrice Soulier Joins Everest Poker's Pro Roster
12am Thu Nov 26th, 2009
To further strengthen its support for French poker in anticipation of the opening of that market, Everest Poker has signed renowned French poker pro Fabrice Soulier as its latest ambassador.
HHPT Co-Sponsors Bayou Poker Challenge Ladies Event Dec. 20
12am Wed Nov 25th, 2009
The HighHeelsPokerTour (HHPT), the first all women's poker tour launched on the East coast, will wrap up their 2009 schedule at Harrah's New Orleans on December 20th where they will co-sponsor the Ladies Event #14 no-limit Hold'em at 12 pm.
OPPAGA Reports on Florida's Online Poker Options
12am Tue Nov 24th, 2009
Given that UIGEA permits individual states to regulate online poker, the Florida Legislature's Office of Program Policy Analysis and Government Accountability (OPPAGA) published a report this week presenting three options available to Florida State lawmakers in order to protect consumers from unlawful internet poker: regulate it, prohibit it, or carry on with the status quo pending federal legislation.
BC Poker Champion Arrested, Charged with Manslaughter
12am Tue Nov 24th, 2009
Just two days after taking down the BC Poker Championships Main Event, Sophon Sek of Cloverdale, BC, was arrested in connection with one of the most storied crimes in the Province's history.
Local Businessman Bags European Poker Tour Vilamoura Bling
12am Sun Nov 22nd, 2009
The European Poker Tour rolled into the Casino Vilamoura last week, instantly generating the richest poker prize pool in the nation of Portugal's history.
Keikoan Captures Harvey's Lake Tahoe WSOPC Championship
12am Thu Nov 19th, 2009
This week marked the finale of the biggest annual tournament series in Northern Nevada, the WSOP Circuit championship at Harvey's Lake Tahoe. While the Main Event saw only a modest turnout, it did boast of a tough final table, and a WSOP bracelet owner as the eventual champion.
WSOP Main Event Champ Joe Cada to Appear on Letterman
12am Wed Nov 18th, 2009
The poker world will receive some late night attention tonight as "The Kid" Joe Cada, the youngest champion in the four decade history of the World Series of Poker Main Event, takes a seat next to embattled talk show host David Letterman.
First Korean Champ of Asia Pacific Poker Tour Crowned in Cebu
12am Tue Nov 17th, 2009
Another stop on the Asia Pacific Poker Tour is in the books, this time it's the APPT Cebu in the Philippines, and for the very first time a Korean player has come out on top.
