Colossal displeasure with Colossus payout structure at WSOP

1 June 2015

LAS VEGAS — The money bubble burst at the World Series of Poker's Colossus event after just two levels of play on Sunday night at the Rio All-Suite Hotel & Casino, but the bulk of the buzz in the Pavilion was a payout structure that will see first place earn $638,880, or just 5.7 percent of the prize pool — well below the typical winner's share for a poker tournament.

When WSOP Tournament Director Jack Effel announced the first-place prize, there was an audible gasp in the room, as all the players in the room seemed surprised by the amount. Many assumed that with 22,374 entries and a prize pool of nearly $11.2 million, first place would pay at least $1 million.

Two self-described "angry New Yorkers" clearly didn't think much of the structure.

"Part of the allure of getting people and coming down here was you thought for $565 you could win $2-3 million," said Harry Frankel, who played in the event but did not finish in the money. "This first prize, it's the same first prize as almost any other poker tournament, and you have to get through 22,000 people."

Frankel and Toby Kasser came with a group of about a dozen players who play together at a local club, and both said they have played at the WSOP for several years. Several of the players they came with made the money, and they were sticking around to watch the action.

"They brutalized the pay structure," said Kasser. "It's anti-climactic to win a tournament like this, other than to say you passed through 22,000 players. Do you know how hard it is to beat 22,000 players? If I win, I've got to pay half to the government. I basically won ($315,000)."

Frankel and Kasser's sentiments were echoed by many professional poker players on Twitter.













The payout structure is clearly not ideal in the minds of hardened, experienced players. But those who haven't played as many casino tournaments didn't seem to be quite as outraged.

"It is a little disappointing. You'd think they'd at least pay $1 million," said David Thompson of Oklahoma City, who survived the money bubble to finish in the money. "But 600 grand for a $565 entry fee is pretty good, so I'm not too upset about it."

"It sounds odd because you'd think (first place) would be at least 10 percent, but I don't have a problem with it," said Jeff Gallimore of Peoria, Arizona. "I can't imagine it being run any better than it's been run. I get to say I played in the biggest live tournament of all time. Are you kidding?"

A min-cash in the Colossus was worth $1,096, or nearly double the tournament buy-in, which is slightly higher than the industry standard. Payout jumps occur every 100 players or so until the final 99 players are determined, at which point they occur every nine players. The player who finished 1,000th won $3,009, and 500th is worth $5,000. The top 99 players are guaranteed at least $9,307, while tenth place will earn $55,968.

The whole point of the Colossus was to bring new players to Las Vegas for the WSOP. There's no doubt that objective was achieved. If the recreational players who came to Las Vegas to play in this tournament don't mind seeing less money go to first to flatten the pay structure, maybe it's not so radical an idea after all.

Related Links
World Series of Poker Gaming Vendor Information
Rio All-Suite Hotel & Casino Details
Nevada Gambling
Ranked Online Poker Rooms

Featured Vendors
Casino City Press
Casino Schedule Ease
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Casino Schedule Ease
Get a 90-Day Free Trial of 100% contactless, customizable table game & full casino scheduling
Casino Network
Rymax Marketing Services, Inc.
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
TDN Money Systems
Plastic Card ID
TDN Money Systems
Cage, cash/chip handling experts representing CountR, ARCA, AccuCASH, Fujitsu & NCR
Plastic Card ID
The World’s Lowest Prices on Printed Plastic Cards and Card Printers!
AmericanChecked
Kallop
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
Kallop
Reward every play like a VIP with exclusive luxury brands at affordable prices.
Broadband Hospitality
TOP ONE TECH LIMITED
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
.Dot-iGaming.com
Sunkist Graphics, Inc.
.Dot-iGaming.com
Fully loaded advanced casino platform. One time (low) fee, 100% your property, start now!
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Imagine This
TribalHub
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
TribalHub
23rd Annual TribalNet Conference Sept 12-15, 2022 Grand Sierra Resort & Casino in Reno, NV
Global Gaming Expo (G2E)
Betson Imperial Parts & Service
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Oklahoma Indian Gaming Association (OIGA) Conference
Talisman Group Creators of EZ Baccarat
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: Aug 9-11, 2022 in Tulsa!
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.


Your Guide to 15,523 Gaming Industry Suppliers