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PP Higher Step Tournies - $100k First Place Payout (Step 5)

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  1. bpbenda bpbenda is offline

    Franklin, TN
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    Apr 22nd, 2005 (4/22/2005 11:09am)

    Playing on partypoker and received a system message regarding their new Mini and Higher Step Tournies. The Higher Step tournies start at $30+$3 and conclude at Level 5 with first place getting $100,000. Third place at Level 5 is $30,000. The loop structure on the steps is very generous. I couldn't hardly believe it when I saw it, but this is a sick sick SICK tournament structure. Check it out.
  2. bpbenda bpbenda is offline

    Franklin, TN
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    Apr 22nd, 2005 (4/22/2005 11:12am) in reply to bpbenda

    Sorry, the total pool at Step 5 is $150,000. First place takes $100,000. Second place $30,000. Third place $20,000. Unbelievable.
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  3. bpbenda bpbenda is offline

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    Apr 22nd, 2005 (4/22/2005 11:13am) in reply to bpbenda

    The buyin at Step 5 is $15000+$500.
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  4. TheViper TheViper is offline

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    Apr 22nd, 2005 (4/22/2005 11:28am) in reply to bpbenda

    The unbelievable thing is that they charge 10% juice on all levels except the top.

    Their website incorrectly lists the buyin into step 5 as $1,500 + $500. The buyin is probably $15K, but that makes me wonder if the juice of $500 is right, or did they miss a freakin zero place there as well, making it a $15,000 + $5,000.
  5. dedheadsteve dedheadsteve is offline

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    Apr 22nd, 2005 (4/22/2005 11:28am) in reply to bpbenda

    now if they would only change their blind structure so it's real poker instead of a crap shoot......
  6. bpbenda bpbenda is offline

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    Apr 22nd, 2005 (4/22/2005 11:38am) in reply to TheViper

    A 10% keep is pretty standard as far as $30 tournies go, but you are right, they 10% it through Step 4 at $3000+$300. However, bear in mind that if you start at Step 1 and work your way up, you only pay the keep once at $3. It seems as though they have structured things so as to discourage direct buy-in at any level except the first.
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  7. browerkid browerkid is offline

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    Apr 22nd, 2005 (4/22/2005 12:04pm) in reply to dedheadsteve

    watching the Higher Steps should be really interesting.........it really sucks you have to come in 1st in every step...and with the blind structure...............THAT IS TOUGH.........I guess the highest level will buyin at the $3k stage...........can't imagine anyone buying in at 15k

    I like the last level of the ministeps, buy-in $400.......coming in 5th you get half your buyin back, pretty sweet payout structure
     
  8. Adam Adam is offline Emperor

    Atlanta, GA
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    Apr 22nd, 2005 (4/22/2005 12:10pm) in reply to bpbenda

    Well....sort of....but not really. Every time you get moved to a step, even if it's the same one you're already in, more juice gets charged. While this may not come out of your account, it does come out of the prize pool you're working towards. That's the genius of the step tourneys, as far as the sites are concerned. People can be floating around for weeks, not actually paying more money out of their pockets, and the sites are making money every time they hop into another tournament. So while you're not actually putting something in, party is taking something out of what you're working towards. The other great thing about it for them is that when someone who buys in for $33 bucks ends up winning $100k, they're not going to care in the least that they got charged a few grand in juice on the way there. So it's a great situation for the sites that run them.

    That said, I'm an advocate of the step tourneys, particularly the ones for a WSOP seat. But the reason it seems you don't have to continue to pay juice each round is simply a restructuring of the prizes in each (rather than 50-30-20), not that you're not "losing" anything. Whether this restructuring is a plus in the long term for regular players is up for debate.
     
  9. bpbenda bpbenda is offline

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    Apr 22nd, 2005 (4/22/2005 1:18pm) in reply to browerkid

    Yes, it is very similar to the WSOP step rule where you basically have to win each round to move on to the next, but the loop structure appears to generally keep 2-4 at the same level without falling back. In fact, in Step 4, places 2-5 all get looped back into Step 4 without falling to 3 or lower. That is the $3000+$300 round. I think that is pretty fair.
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  10. bpbenda bpbenda is offline

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    Apr 22nd, 2005 (4/22/2005 2:15pm) in reply to Adam

    You make a good point, Adam, but like you said, when you only paid $33 to win $20k, $30k, or $100k, who's going to argue? It is a great situation for the sites that run them, but it is also a great situation for a low rolled player to win a significantly large pool. It is a trade-off, really, 10% rake of the forwarded pool at each level for a tremendous leveraging opportunity. Granted, it is not at all easy to win the Step structure through all 5 stages, but it is a good opportunity for an over-achieving player to do very well. Sort of like the lottery here in Tennessee. That is, it is enticing to lower-income individuals, to win alot of money with very little outlay, but the odds of such an individual winning are quite slim. On the flip side, it is a great system for middle and upper-class families whose children decide to attend an in-state university. The well-to-do are supported by their opposites.
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  11. 48sillyhands 48sillyhands is offline

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    Apr 22nd, 2005 (4/22/2005 2:21pm) in reply to bpbenda

    I think DOEKOE bought in directly to the $15,000 step 5 but he cant get anyone to sit down with him.
  12. Adam Adam is offline Emperor

    Atlanta, GA
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    Apr 22nd, 2005 (4/22/2005 2:58pm) in reply to 48sillyhands

    Noah's got loads of cash...wouldn't surprise me
     
  13. FortuneMeyers FortuneMeyers is offline

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    Apr 22nd, 2005 (4/22/2005 6:41pm) in reply to Adam

    Wow!!! The other online sites are really behind the 8 ball now. The bad part is the blinds really need to be fixed!! Anybody got a hook up with Mike Sexton?
  14. TheViper TheViper is offline

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    Apr 22nd, 2005 (4/22/2005 7:38pm) in reply to FortuneMeyers

    Yea, I hooked up with him once, but it was in Aruba and I was drunk.......
  15. FortuneMeyers FortuneMeyers is offline

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    Apr 22nd, 2005 (4/22/2005 9:25pm) in reply to TheViper

    As long as nobody saw there is nothing to be ashamed of.
  16. spudd69 spudd69 is offline

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    Apr 22nd, 2005 (4/22/2005 9:55pm) in reply to FortuneMeyers

    Wow, someone please post as soon as one of these is won by a pocket fiver, which it definitely will be.
  17. bpbenda bpbenda is offline

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    Apr 22nd, 2005 (4/22/2005 10:19pm) in reply to spudd69

    Well, gonna give it a try. Good luck!
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