Doing the WSOP Satellite a bit different this year.
We will first have at least two Friday night Satellites, the first one will be at 8pm on April 22.
These satellites will be "Step 1" tournaments with a $60 buy in.
In the Step 1 Satty we will award as many $300 seats as we can to a Step 2 tournament at 1pm on Saturday May 28. NOTE: If a player from Step 1 who wins a Step 2 seat can't play in the Step 2, he/she passes the seat on to the runner up, but is refunded the $60 and receives a Step 2 share.
Any extra cash remaining will be offered as an option to the bubble to help buy into Step 2, if it is refused it will go into the Step 2 prize pool.
Of course players can buy directly into the Step 2 tournament as well for $300.
This step system will give everyone at Pepper Street with a wide variety of budgets a great chance to take a shot at World Series of Poker greatness.
The Step 2 tournament at 1pm on May 28 will award at least two World Series of Poker seats to $1500 events.
Any remaining money under $1500 will go to a $1000 seat or a $565 Colossus seat if the amount is less than $1,000.
Any cash remaining under $500 will be paid to the bubble.
Potentially, depending on how well Step 1 goes and how many Step 1 tournaments we end up having, we could be playing for far more than just two seats in Step 2!
I am pumped up about this approach, and I hope as many of you as possible will take part. Myself I am budgeting $360, so even if I bust the Step 1 sattys will still be playing in Step 2. But the nice thing is about this system is that you can budget as low as a one time shot of $40, and potentially get into some serious cash! How can you resist?
As usual, players participating will share in the winnings should our WSOP representatives cash.
Here's how that will work.
When a representative cashes, he will keep 60% of the money.
The remaining 40% be divided evenly among all Step 2 players.
Easy peezy rice and cheesy!
Hope you all will partake - for a shot at the dream!
Disclaimer - I will be signing a staking agreement with whoever goes to the WSOP; I alone will be responsible for receiving the 40% of the representatives payout and distributing it. I have final say in these payouts - if there is a dispute I reserve the right to withhold payouts from any and all participants except for a refund of initial entry fees for Step 2 participants. I don't anticipate there being any problems, but by taking part you are all agreeing to abide by my final decision.
If by some happy happenstance I happen to be the rep, then you will simply have to trust me to honor this agreement. Those of you who know me well know that with me this simply won't be an issue.
