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$550,000 Buy In Slot Tourney $2500 7/14-15

Discussion in 'Club Grazie - Venetian/Palazzo' started by deadcpu, May 9, 2017.

  1. deadcpu

    deadcpu Bronze
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    Howdy!

    Got a invite in the mail form V/P. Anybody planning on playing in this? Anybody do good last year?

    $2500 buy in
    $750 bonus buy in

    2 tournaments, each pay

    1st $100k cash
    2nd $25k cash
    3rd $15k cash
    4-5th $7500 cash
    6-8th $5000 cash
    9-15th $2500 cash
    16-25th $2500 free play
    all others $500 free play


    -N
     
  2. dvandentop

    dvandentop Chairman
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    Not worth it will end up costing $4k since there is rebuys and you know most people in the running will rebuy. I think there is another thread on this one somewhere.
     
    Chuck and Hoofy7 like this.
  3. Hoofy7

    Hoofy7 Chairman
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    I think this is the one @VegasChic did last year. I never play in the buy-in slot tournaments because your buy-in doesn't count as play or hotel spend, which I think is a crock. I'm also not very lucky and prefer to lose the free tourney, rather than one I pay to lose. ;)
     
  4. VegasChic

    VegasChic Buffalo Huntress
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    I did do it last year but they didn't have the re-buys.

    I will add a link to the report so you can see how it went. Ultimately I didn't place in the $$, but we had another member who did get his buy-in back.

    After going through the experience, I wouldn't do it again unless the casino changes how they report the buy-in, as @Hoofy7 mentioned, it currently counts for nothing. There are no Grazie points, no THEO generated (which makes it a total additional spend on the trip as it will come up as a no play trip if you don't game otherwise) and the buy-in doesn't factor into losses that could be recovered against taxable wins on the win/loss statement. They did write out a receipt for the buy-in amount, maybe it can be manually added- not sure how IRS views that. Maybe I'd do $500 or less, but never again to buy in for thousands that essentially evaporates with no reflection on play for even comp consideration. Add on the additional buy-ins on this and you will really be in for a big spend. Unless you win of course.:)

    https://vegasfanatics.com/index.php?threads/vegaschic-sis-evoni-550k-slot-tourney-may-19-22.694/
     
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  5. Wanker751

    Wanker751 Chairman
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    Did anyone else see the cut off version of this thread and see it as $550,000 Buy in? :flushed:

    So with the rebuys is it second entry or does it combine scores?
     
  6. Uncle Pauly

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    According to my host it is added to the other rounds.
     
  7. Evoni

    Evoni Palladium
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    They must not be getting a great response yet as my host sent me a special invite encouraging me to come and celebrate our birthdays during it (we both are July 14th). I'm taking a pass on it.
     
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  8. Chuck

    Chuck Platinum
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    Do any buy-in tourneys give you any kind of points/TCs for the buy in amount? They seem like pretty straightfoward propositions where most if not all of the buys ins go to the prize pool.
     
  9. VegasChic

    VegasChic Buffalo Huntress
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    Not that I'm aware of, I understand it's somewhat a standard practice industry wide so not unique to V/P at all.
     
  10. ballagio

    ballagio Silver
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    I did the tourney last year. I ended up placing like 21st or so in the first tourney. Won $2500 FP and $500 FP for the 2nd tourney. There were no rebuys last year. They gave everyone a nice Travelpro rollerboard luggage. The buy-in did not earn any points. I have a new host this year and did not get invited to this tourney. For some reason, I must have dropped off because I don't get invited to slot tourneys anymore. I only get the $5k tourneys.

    I decided to do the tourney last year at the last minute because I could out that they only had like 80 people or so participate. My back of the envelope calculation said that I had a better than 50% chance of winning back my buy-in. I did an expected value calculation based on returns and decided to pay the entry fee. Luck was on my side and placed. I turned the FP on a later trip into something good.

    I probably would not do the tourney this year with the rebuys. The BR of some of the participants are unreal. It also depends on how many are in the tourney. It was limited to 100 last year. Just my two cents. Good luck if you or anyone decides to participate.
     
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