The first thing you need to do is make sure that you have enough players to hold a poker tournament. You also must decide how big the event will be.
Any group of buddies can hold a small sit and go with 4-5 players. But you’ll want more participants if you’re envisioning a grand event.
How Do Casinos Make Money On Poker Tournaments 2019
How to Make Money Playing Poker at a Casino Making money playing poker in the casino is a bit different. First off, you of course have to physically go to the casino. If you live in a rural area or somewhere far from a city centre this can often be a problem. Some countries also do not allow casinos at all. The casino expects the player to get 60 hands per hour, so their total bets per hour equal $120. Using the same 2 percent house edge, the casino will retain about $2.40 from their play. Giving back 30-cents equals a comp value of 12.5 percent, which is pretty good. Most casinos hold the line between 10 and 15 percent. The most common method by which a casino makes money from players in a poker room is the pot rake – a scaled commission fee generally taken from the pot of each poker hand. A pot rake is generally between 2.5 and 10% of the pot, up to a predetermined maximum amount. There are other non-percentage methods used by a casino to take the rake. ClubWPT poker does offer free poker tournaments with real money cash prizes. There are also a variety of satellite tournaments in which you can win seats to major land-based World Poker Tour events. For example, they recently hosted a tournament that gave away free entry to the WPT Jacksonville tournament ($1,000,000 prize pool).
How Do Casinos Make Money On Poker Tournaments Real Money
You should also consider other factors when deciding how many players to invite, including the buy-in size and what type of people will be playing.
These factors go together because you don’t want to hold a $500 buy-in home tournament and invite players who’ll be telling everybody they know. This creates security issues and can lead to thegame being robbed.
This sounds extreme, but home poker robberies do happen when the wrong people catch wind that there’s a large prize pool involved.
Most home poker tournaments don’t have buy-ins worth more than $50 to $100. But if you’re hosting a high-stakes event, you should consider hiring security.
This also seems extreme, but it’s a good precaution when you’re holding a larger tournament with big buy-ins involved.
I recommended inviting as many high-character individuals as you can. Some players tend to get out of hand and cause controversy during a poker tourney.
You’ve likely seen World Series of Poker clips where a player is acting unreasonably.The good news for WSOP officials is that they have plenty of security in case anything goes too far.
This is enough deterrent to keep WSOP players in line. But the same instances can lead to fights in a home game where there’s no security personnel to back up the tournament director.
This is another area where hiring one or two security guards can help. Security ensures that you don’t have to deal with unreasonable, drunken players yourself.
ClubWPT Poker is one of the few real money poker sites that is allowed to operate from within the United States. What separates ClubWPT from other poker sites is that you are not allowed to make deposits at your whim. The poker site operates based on a subscription model. You sign up, pay $19.95 a month and play in tournaments that offer real money prizes.
One of the most common questions people ask is if you can real money at ClubWPT Poker. The short answer to that is yes. ClubWPT poker does offer free poker tournaments with real money cash prizes. There are also a variety of satellite tournaments in which you can win seats to major land-based World Poker Tour events. For example, they recently hosted a tournament that gave away free entry to the WPT Jacksonville tournament ($1,000,000 prize pool).
If you haven’t heard of the WPT before, the letters stand for the World Poker Tour. The WPT travels around the world and hosts live tournaments with major prize pools. If you win a seat to a WPT event, you’ll get to play for millions of dollars’ worth of prizes. For those of you that like videos, here’s a quick look at what a big hand looks like at the WPT:
The second-most common question is if you can win serious money at ClubWPT.com. This question isn’t answered as easily because the answer depends on what you consider serious money. ClubWPT hosts a $10,000 tournament every month with some pretty nice payouts. These payouts aren’t as big as what you would see at the PokerStars Sunday Million, but they are still nothing to sneeze at.
How Do Casinos Make Money On Poker Tournaments 2020
For example, here are the top ten prizes that you can win in the ClubWPT $10K Guarantee:
| Place | Prize |
|---|---|
| 1st | $1,000 |
| 2nd | $750 |
| 3rd | $500 |
| 4th | $450 |
| 5th | $400 |
| 6th | $350 |
| 7th | $300 |
| 8th | $250 |
| 9th | $200 |
| 10th | $150 |
How Do Casinos Make Money On Poker Tournaments Winnings
Payouts go all the way down to 250th place. So in this tournament, the first place finisher gets $1000 while the last paid spot nets $20. When you compare these prizes to the cost of a ClubWPT membership, that’s not a bad deal.
Additionally, the satellite tournaments held at ClubWPT Poker can lead to massive prizes. If you win a seat at a major live tournament, you’ll have a real chance to win hundreds of thousands of dollars. All in all, it’s not a bad deal considering ClubWPT has both free membership options and a $20 a month option.
What I don’t like about ClubWPT is that the whole poker site feels very amateurish. The software is buggy, the website itself has issues and I have a hard time getting in touch with customer support. Unfortunately, ClubWPT doesn’t face much competition so they don’t have much incentive to keep things rolling.
If you live in the US and are dying for a place to play poker, I would say that ClubWPT is worth a look. I personally still think Carbon Poker is the best option for USA players, but playing at offshore poker sites does have its own risks. If you live outside the US, my first pick is Bet365 Poker by a long shot.
One last thing to keep in mind is that ClubWPT Poker does not offer cash games. This is strictly a poker tournament site. As a US-based subscription poker site, ClubWPT Poker is not able to provide cash games.