When Bodog offers $5000 guaranteed tourney. Does that mean if only 10 people put in, winner still gets 5000?

Question

my fault for not clarifying or to extend it further, i'm confused in the way that they offer $8 buy-ins for a $3000 guaranteed tourney. I only see 200 or so entrants (at most) in these things and wonder how bodog makes money giving away $3000 when they receieve $1600 or so in entrance fees. If it is that good to be true when there are such great odds to win, why aren't people quitting their day jobs? Or am i missing something?

Answer 1

A $5,000 guaranteed tournament, means what it says.  If the tournament is not canceled before it starts (they have the right to do this if there is not enough entrants), then the prize pool will be at least $5,000.

The exact distribution of the prizes will depend on the site and their rules.  But typically the top 10% will get paid, with the lion's share going to the winner.

But you are right, if you find one of these tournaments with less than the proper number of entries, and a guaranteed prize pool then it is a good value.

But poker sites are not dumb, it's quite rare for them to run a tournament with more prize than the entry fees would normally dictate.  They know how many players they are likely to get, and they are not going to keep s******g themselves out of money.

Answer 2

The prize pool is just guaranteed to be at least $5,000.

They hold these tournaments often enough that they know the average number of entrants. And it usually always evens out. If there are ever fewer people entered than what the guaranteed money is, play those. The payouts are higher.

Most sites have a minimum ammount of players required in order for tournament to start. This ensures that they dont lose money. Because the ammount that they are getting in from the entry fees cover the money that might not be there from lack of entries.

The ammount of money paid is different for each tournament and different by how many players register. Payouts can be found in each tournament lobby.

Answer 3

The $5000 guaranteed means that the prize pool is guaranteed to be $5k.  The winner does not get $5k unless you have enough entrants to dictate such.

Answer 4

YES.  When a poker site offers a $5000 guaranteed tourney, then it doesn't matter if only 2 people enter the tournament for $8 a piece.  The prize pool is a minimum of $5000 no matter what.  Usually they only offer these minimums when they know the entry fees will easily cover or come very close to covering it anyway.

The minimum amount that people are talking about is usually one full table.  They do state this fact in the tournament information before the tournament starts so nobody can say they are renegging on a promotion.

Answer 5

No. Prize distribution is determined by how many people join the tournament. 5-10 people usually pays 50% for first, 30% for second and 15% for third so if somehow only 10 people signed up for that tournament then first place would receive $2500. As the number of people in a tourney grows, the prize percentages become lower and more players become winners. Typically though the prize pools become bigger than the "Guarantee" which basically negates the whole purpose of the tourney.