Guaranteed tournaments

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Kanetuck

Kanetuck

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How do guaranteed tournaments really work? Do all online sites do them the same way? Do live guaranteed tournaments work the same way as well?

I thought a guaranteed tournament meant the site put up that amount of money in addition to the entry fees. But I entered a $2.20 entry $500 guaranteed tournament last night, and the payouts only equaled the amount of entry fees which was something like $580. By the time it hit that amount, it paid out 63 places, which really cut into payouts.

So my question is mainly this. If a tournament is guaranteed, does it just mean the house is going to kick in the difference if the entry fees don't cover the listed guaranteed amount?
 
Yes, the house covers the amount not fulfilled by buy-ins to meet the guarantee. Some people specifically look for these possible "overlays" as they are beneficial to the players.
 
The poker sites keep detailed stats on how many people play a certain event on a certain day at a certain time. Their records go back years. When they guarantee $5000 it's because they know 99.9% of the time there will be more than $5000 in the prize pool. I think I've only ever seen 1 come up short.

It virtually never happens, not at Pokerstars where I play anyway.
 
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knocker said:
It virtually never happens, not at Pokerstars where I play anyway.
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I wonder whether other people ever saw that happening. I don't remember encountering it.

It's safe to say that the Gtd money divided by the buy-in (-rake) will show you the minimum number of players that will join. Any idea how far from the average that number usually is? I guess the typical prize pool is at least 10% above the Gtd, or the Gtd is at most 90% of the typical.
 
When I was staked by a staking company they had an agreement with a certain site that if a tourney was going to miss a guarantee the site would pay the Stable's players entry fee for 50/50 on any prize money. Most days we would be asked at short notice to jump into late reg tourneys only downside was we only got 25% of any winning but if we didn't cash nothing would go on our p&l.
 
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Simply put, $500 GTD means the house guarantees the prize pool will reach at least $500 and will make up the difference if it doesn’t.
 
Of course, if my friend ... the Guaranteed Tournaments have to pay the offered prize ... although with the buy-in of the registered players they do not reach the amount ... they will make the difference to adjust the offered prize ... ! However, this almost never happens because the poker sites carry out previous studies on the number of players that could eventually play in a specific tournament ...
 
Every now and again there are mass internet outages that cover an entire country or half a continent. Sometimes they last an couple of hours. I don't doubt that in a few of those rare cases the sites were coming up short.

If you ever find yourself in the the middle of one of those and are one of the lucky few who can still connect, get on and play poker.
 
Don't like them never play them because of the re-buys. Players seem to take risks they normally wouldn't creating to many suck out situations.
 
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