Tournament Assessment: Guarantees Irrelevant for Players, Apparently

In the world of high-stakes poker tournaments, the race to offer the largest guaranteed prize pools has become a significant point of competition between major events. This year, both the World Poker Tour (WPT) and the World Series of Poker (WSOP) have made headlines with their ambitious guarantees, but with mixed results.

Tournament guarantees are promises made by organisers to ensure a certain prize money for players. These guarantees dictate the size of the prizepool and thus the potential winnings for participants. However, if a tournament attracts fewer players than expected, it may result in an 'overlay', a situation where the tournament takes in less money than it has guaranteed to pay out.

The WPT recently announced a record $40 million guaranteed prize pool for its 2023 WPT World Championship. Despite the grand announcement, the tournament fell short of this guarantee by several million dollars. This is not an uncommon occurrence in the world of poker tournaments, where the number of participants can be unpredictable.

On the other hand, the WSOP aims to outshine its rivals, including the WPT, by offering even bigger guarantees. This year's version of the WSOP Paradise Super Main Event will boast a staggering $60 million guarantee, setting a new record for the largest live guarantee ever.

Last year, the WSOP Paradise $25K Super Main Event saw a record-busting $50 million guarantee, only to end up with an overlay of $550,000. This serves as a reminder that the possibility of an overlay is one that any sensible player should be aware of.

Tournament guarantees are often used as a marketing tool to build anticipation and provide reassurance to players. They can be found in promotional materials for many major poker tournaments. However, it's important to remember that tournament fees, accommodation packages, and staff payments may be included in the overall guarantee, but are not paid out as prizes.

Organisers have a commitment to honour their guarantees, and in case of an overlay, they must make up the shortfall themselves. This underscores the importance of careful planning and strategic marketing when setting tournament guarantees.

In conclusion, while both the WPT and WSOP have made impressive guarantees for their major events this year, the WSOP Paradise Super Main Event stands out with its record-breaking $60 million guarantee. As always, it's crucial for players to understand the implications of tournament guarantees and the possibility of an overlay before participating in these high-stakes events.