Why the 6 million dollar venom tournament is pointless

This is not promoting Black Chip Poker.

There's a 6 million dollar prize pool, for a tournament on Black Chip Poker. The winners gets 1 million bucks. Why is this pointless? Well, the maximum cash out is $10,000 via a crypto transfer. The maximum cashout through a bank draft is $3,000. Correct me if I am wrong, but the site only allows one cashout a week. Do that math. You would have to wait 333 weeks to get your money. You would also have to invest in Bitcoin 100 times, to receive the 1 million dollars.

Is this whole bitcoin thing not most of all a way to get around the US ban on online gambling? For obvious reasons this ban makes it difficult for sites to transfer via regular bank accounts or credit cards, as poker players can in other parts of the world.

There isnt an online ban against gambling. You're referring to credit and debit cards banning deposits. Credit and debit card withdraws have been unavailable since the days of poker stars real money, in the United States. There obviously isnt a ban because 888 and Poker Stars are both available in New Jersey. Heck, even party poker is available there. I'm talking real money sites, which ban the rest of the country.

My point is those New Jersey sites would never get involved in illegal gambling. Also, since the value of Bitcoin changes, it's pointless to withdraw earning without potential deflation. Why not just continue to gamble, if there's a cashout risk?

So sorry that $3000 per week is not a good result for you.

puzzlefish said:

So sorry that $3000 per week is not a good result for you.

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hell yeah! I would take the $3000 a week at least we be saving money or having a "secret income" hehe P.S.- I would blow that million on a weekend

Sure $3000 a week sounds like a lot, but the buy-in is $2,500. That's if you win.

You'll never even come close to winning that one,,,, :wink: so why worry about it?

It's the overall principle of the site hyping tournaments up, only to be set up for failure. It seems the site is designed to prevent massive cashouts. Look at the real money tables. Some players have over a hundred grand. This makes me wonder if the high stakes players with a ton of cash, are actually bots.

$3000 a week is good for me. I like money.

Nobody dislikes the idea of only being able to cash out $3000 at once?

I only play the Venom steps when I'm bored anyway. I have a bunch of tickets but I never expected to cash for a million.

I would take 10,000 a week in BTC for the next 100 weeks.

Often a poker room will give a special one-time large cashout for a player that won a big tournament. So you can get your million quicker that 300+ weeks lol

All you need to do now is get to the final table!

Good luck !

They paid the last winner in a BTC transfer for the whole amount. They actually set a Guiness World Record I believe

Heresthecooler said:

This is not promoting Black Chip Poker.

There's a 6 million dollar prize pool, for a tournament on Black Chip Poker. The winners gets 1 million bucks. Why is this pointless? Well, the maximum cash out is $10,000 via a crypto transfer. The maximum cashout through a bank draft is $3,000. Correct me if I am wrong, but the site only allows one cashout a week. Do that math. You would have to wait 333 weeks to get your money. You would also have to invest in Bitcoin 100 times, to receive the 1 million dollars.

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Hi , the winner for the Venom main event will get $1,000,000 dollars in one single cashout through bitcoin, should the first-place finisher prefer to receive their winnings via traditional payment methods, they may return the cryptocurrency and withdraw their winnings via other payment options available in the cashier.

Heresthecooler said:

It's the overall principle of the site hyping tournaments up, only to be set up for failure. It seems the site is designed to prevent massive cashouts. Look at the real money tables. Some players have over a hundred grand. This makes me wonder if the high stakes players with a ton of cash, are actually bots.

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here is a little bit of info. Many of them ARE bots.

The only site i have continued to play on is Bovada/bodog/ignition, period.

A site would not let a random player be able to withdraw or deposit any amount. This is put in place for security reasons as a counter measure to illegal activities example like hacking, stolen cards and money laundering.

It is the same principle as having a daily limit on your bank card.

I am sure if you need to deposit/withdraw past limits the site will put something in place for you once you ask them and provide proper documentation.

I'd still take the 3k a week...thats just over 6 years(6.16) of 3k every week. about 6 years and 2 1/2 months or 10ish weeks. And 1 4k withdrawl :bebored:

Lol I’m sure they increase the withdrawal limit for the players that win. Do you rly think they have to take it out $3k at a time?

Oh no, the horror of having steady income for years to come. Totally not worth playing a freeroll to get into that crap. Thanks for the heads up.

Heresthecooler said:

This is not promoting Black Chip Poker.

There's a 6 million dollar prize pool, for a tournament on Black Chip Poker. The winners gets 1 million bucks. Why is this pointless? Well, the maximum cash out is $10,000 via a crypto transfer. The maximum cashout through a bank draft is $3,000. Correct me if I am wrong, but the site only allows one cashout a week. Do that math. You would have to wait 333 weeks to get your money. You would also have to invest in Bitcoin 100 times, to receive the 1 million dollars.

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There's a similar prize pool at the Americas Card Room

Boy like me I wish I could have secured $ 3,000. per week for 333 weeks! I wouldn't do anything else in life kkkkkk

sounds great

not sure on your bankroll but 3000$ per week would be nice - but i would go for 10000$ in bitcoin and just sell them immediately afterwards - overall you most likely get 10000 $ per week.

guess number of players will be smaller than other big tournaments so seems like areal good deal

Heresthecooler said:

This is not promoting Black Chip Poker.

There's a 6 million dollar prize pool, for a tournament on Black Chip Poker. The winners gets 1 million bucks. Why is this pointless? Well, the maximum cash out is $10,000 via a crypto transfer. The maximum cashout through a bank draft is $3,000. Correct me if I am wrong, but the site only allows one cashout a week. Do that math. You would have to wait 333 weeks to get your money. You would also have to invest in Bitcoin 100 times, to receive the 1 million dollars.

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For bigger cash outs you can always contact CS and they will be more than happy to increase your limits to cash out via BTC. As you can see , we Winning Poker Network, holds the Guinness World Record for the largest cryptocurrency winning jackpot in an online poker tournament! As we paid out over a million dollars via BTC seconds after the winner won the event. So as you can see it is not pointless to play the event... It's life changing money that you can receive in a few minutes