credits instead of cash????

I was playing at the $25 + 5 tourney at the local casino. There was $10 rebuys with a $25 add-on. I have never heard the word re-buy so much in my life!!!! Anyway, the total prize pool was announced at (I believe) about $8,000. Only the final table was paid and first place was paid $800 cash. $800 from a $8,000 pool? WTF?!?!?!? Apparently, in addition to your $800 you also get an additional $3,000 (approx.) in future tounament entry fees. So, basically, you are getting credits after spending hundreds of dollars (one guy at our table bought about $400 in re-buys!!!) and a little bit of money. Seems like a load of crap to me, what do you guys think? I guess I should as if this is this normal?

Amazingly, I didn't buy one re-buy (My stack was always above the limit) and I didn't bother with the add-on because I was 2nd in chips at our table. An all-in with one of the small stacks (I had KQ and he had AK), and a whole bunch of great starting hands with 2-5-9 (or similar) on the flop really dwindled my stack. I was sitting with about 6 X BB and was dealt K-10 diamonds. One person before me went all-in so I called. He had JJ. The flop was 2c-4s-Jd. He hit trips. I can still get the flush though. The turn and the river were the Ad and 4d. WOO HOO - a flush!!!! I won!!! OH CRAP. There is a pair up on the board - he hit a full house. What a kick in the nuts. lol It was a good time though and I learned that there are a LOT of good players out there, but even more bad ones.

Oh well, it was a valuable lesson to never play in a tourney with re-buys again. A stupid concept if you ask me. Once you lose your chips, you should be out. Going all-in every hand until you hit a big pot and then you can sit back until after the first break is, IMO, retarded.

I am just speechless. Wow.

There was no specification in advance as to how the payouts would actually be paid?? If not then agreed....load of crap!!

They have nothing posted anywhere stating how this is to be paid out. I read up on all the info they have on the website and all the posters they had up - NOTHING states what the pay out structure is for ANY of the hold'em tourneys they run.

YOU GOT HOSED

I have never heard of a credit winning structure. If all of the tournaments are like this, they never have to pay out anything, LOL. They just let you in for free and keep your money. Now that is a scam if I ever heard of one.

So if you win a tournamnet with your $3000 tournament fees (credits), do you get paid in credits !!! ??????? Hilarious. Never go there again

I have a strong feeling he was playing a "satelite".
I also wonder why he is 'proud' of the fact he chose not to rebuy in a rebuy tournament.

Uhhhh NO it wasn't a sattalite. Being a tight player, I never had a chance to re-buy. Although I did realize I did have the wrong strategy going into a re-buy tourney (having never played one). I'm just POed that if I would have made it through to the end that the cash prize was so small.

But you didn't make it to the end so while it maye be annoying as S**T it didn;t really affect you did it? oh ya rebuy tourneys SUCK.

I wouldn't have wasted my time registering if I would have known that after 6 hours I would have only gotten $800. Also, it's a casino - they make enough money as it is, they don't need to pull that crap. If I did win the tourney, chances are I would be coming back anyway.

The first point is truely shocking.

On your last point, I agree completely. But re-buys will not die out because its a way for any poker tournament organiser to get more money into a prize pool without turning people off with huge entry amounts. Personally, when I play a rebuy tournament, I see the amount it could cost me as three times the original buy-in. I see myself having to rebuy once, and then add-on in the safety period. Then the game begins for me; its a regular freeze out from that moment on.

Peace,

Scouse.

Hey gord962, don't knock rebuy tourneys too loudly. You don't have to take advantage of them if you are not interested in doing so. It is a good way to add to the prize pool without having to raise the initial entry fee. Myself, when I play in a tourney with rebuys, I never take advantage of the rebuys. If others want to put in more money, then that is fine with me. Just my thought on rebuys.

Sounds to me like an utter rip-off

MackemMan

The payout structure should be clearly displayed somewhere. If not, they misled/screwed you and lots of others. Consider taking your business elsewhere.

On the rebuy subject, that is a great format. You just need to understand what it is going in.

wow!! now where is this casino?? thats the biggest ripp off that i have ever heard of