What the players want are BIG guarantees
Back in the 1970’s automobile companies made a mistake, they started using as an advertise ploy the “Cash Rebate” or “Customer Cashback”. Once Ford did it Chevy followed and so did all the GM cars and trucks.People started waiting for a rebate program to be put on the car they wanted to buy. No rebate and the cars sat, but as soon as a rebate program was introduced, the car sold like hotcakes. Once this marketing ploy took hold there was no looking back, so car manufacturers now build the rebate into their cost and you almost never see a car advertised without one.
So when was the Guarantee for Poker Tournaments born? I honestly don’t remember but it certainly has become the same powerful tool to get players to attend an event. Nothing in the advertising of poker is more powerful except the WSOP. A no guarantee event going up against a guaranteed event has virtually no chance of competing vs. the guarantee.
So how big does the guarantee need to be? Well this week proved that if you build it, they will come. Take for example the Hard Rock $5000.00 buy-in event in Florida. Yes the Seminole tribe is making millions a day with their multiple locations in Florida, but a 10 Million guarantee from a $5000.00 buy-in? Now that’s gambling!!
But as I said put that big number up there and they will come. 2384 players to be exact and a total prize pool of $11,920,000.00 exceeding the guarantee by almost $2,000,000. First place is $1.7 Million for a $5000 investment. Almost 350 times your investment. Eat your heart out Wall Street!
And now we’ve done it, the boat has sailed and the name of the ship is Guarantees.
The only venue that needs no money guarantee is the WSOP, but that doesn’t make them Immune. The guarantee the WSOP has is that coveted bracelet and that might surpass the monetary guarantee.
And speaking of the WSOP I’m going to go out on a limb and predict the 2014 Main Event with have at least 7000 players. Why do I feel this way? The addition of Online poker in the US will push it over the edge. There are a few sites in Nevada, but that in itself will not be enough. The addition of New Jersey on the other hand will take it over the top.
The above only spells one thing for poker players and that the opportunity to be given every chance to get the most bang for their buck.
Higher Guarantees and 7000 at the 2014 WSOP. Poker while having plenty of room to grow has come a long way!!
Hope that helps,