$150,000 Guaranteed Event Has Drawn The Ire of Poker Community

Published on September 19th, 2019 10:03 am EST

Fine print is questioned by the poker community in regards to an upcoming tournament at the Venetian.The Venetian in Las Vegas has a poker series coming up called the "Lucky Shot Poker Series and Drawing" that runs from October 21st to October 27th.

At first glance, this tournament series seems fairly standard - 7 events over the course of the one week series, with a $150,000 guaranteed No Limit Hold'em event that has six starting flights and a buy-in of $250.

This is not your standard poker festival, however, and players are hopping mad about it.

The fine print for the $250 NLHE $150,000 guaranteed event reveals something very interesting:

"100% of all funds collected will go to meet the $150,000 Prize Pool. Any funds collected above and beyond the total prize pool will be the sole property of The Venetian Poker Room."

So - let's say that the tournament ends up with 1,000 total entries, creating a total prize pool of $250,000.

This means that the Venetian would keep the prize pool at $150,000 and pocket the remaining $100,000.

This would obviously result in an insane amount of rake being paid, relative to the total size of the prize pool.


The Venetian has argued that this tournament series is meant to appeal to players who like "promotions and drawings", and that they are giving out $52,000 in free cash to people who spend a minimum of $250 on buy-ins over the course of the series. The more $250 buy-ins you have, the more entries you will receive to win the $52,000 in cash.

Poker players are outraged by this move and are not happy about it. Here, for instance, is Doug Polk giving his take:


The Venetian, for their part, don't seem to be backing down in this dispute.


Filed Under: Other Poker News

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