What does $1000 guarantee mean in poker?
In poker i see tournaments named $1000 guarantee but the prize isnt 1000 and the total prizes dont add to 1000 so what does it mean.
- JackAceLv 71 decade agoFavorite Answer
It is a tournament where there will be at least $1000 in prize money distributed amongst the entrants.
If very few people enter the tournament, there can be a large "overlay", where the casino has to put up its own money to pay out the entrants.
If the buy in is $50 and the tournament has 10 entrants, then there would normally be $500 in prize money. This means that the casino is putting an additional $500 of their own money in the tournament. If there are 30 entrants, then there is already $1500 in prize money, so the casino doesn't need to put up any additional money.
Poker Stars and Full Tilt have guarantees that can be bigger than $1,000,000 during their FTOPS and other poker events.
This is a marketing tactic to ensure players that registering for a tournament is worth their while.
On Sunday (Mother's Day) Full Tilt Poker had a $1.5M Guarantee which had an overlay of more than $250,000.
- DougLv 51 decade ago
Usually it means, the minimum total prize pool will be at least $1000.
So lets say the tournament entry is $10 + $1 (the $1 is going to the house here and $10 goes to the prize pool).
If 75 people sign up for the tournament, then their entries wouldn't create at least a $1000 prize pool normally, only $750 instead. So the house has to make up the difference to make the prize pool $1000. They collected 75 x $11 = $825 total, so the house loses $175 to enforce the guarantee.
Conversely, if 150 people sign up, the prize pool is 150 x $10 = $1500, and the house collects: 150 x $1 = $150.
- CheriLv 44 years ago
- 1 decade ago
It means the minimum a person can bet in the pool during the game is $1,000.Not the prize money itself.Each player must agree to chip in $1,000 in the middle in order to play the next round of cards should the player choose NOT to fold.Meaning they call the other player's hand.
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- Anonymous1 decade ago
usually the house takes a percent, that's why the 1k isn't 1k total paid out.
- Anonymous3 years ago