WSOP Flattens Payout Structure to Spread the Wealth
Harrah's announced a new payout structure for 2007 World Series of Poker events designed to push more money to those initially cashing in an event. The money will be taken from those reaching the Final Table, creating a flatter payout."We are increasing the return to players who, after hours or days of grueling competition, are able to reach the money," said Howard Greenbaum, Regional Vice President of Specialty Gaming for Harrah's. "Our goal is to keep more money circulating among more people in the poker community."
The new payout structure retains the same number of players cashing in an event based on the number of entrants, but it modifies the distribution of the prize pool. For example, 846 players cashed in the 2006 Main Event. Those players who finished 846th-775th place received between $14,605-15,512 last year. Under the new structure, their payout will increase to $22,266.
82nd-73rd will almost double, from $66,010 in 2006 to $126,173 this year. The winner of the WSOP Main Event would receive $10,028,715 under the new structure, down from $12,000,000. Similarly, the runner-up would receive $5,442,769 vs. $6,105,900.
"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 Greenbaum. "The new schedules are designed to increase the rewards to players who finish in the money but don't reach the final table."
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