I have floated this idea before... want to gauge interest in it for next year's WSOP (2011)
A group of friends form a syndicate to send someone to the WSOP. In order to get the best representative to go, we hold a minimum of 10 tourneys at some fixed buy-in ($20, $50) Each player who buys in brings a fixed number of points to the tourney (1 point per dollar) which is divided among the winners. That way, a 10 person tourney at $20 has 200 points for the winners and a 25 person tourney has 500 points, rewarding someone more who wins in a bigger field. Maybe top 20% finishers divide the points...
After the fixed set of tournaments, the points winner (or two) are given the buy-in to a WSOP No Limit Holdem event, plus a fixed amount to defray expenses.
If that person cashes in the WSOP event, the prize is divided between that person and the syndicate (40% to the person / 60% to the syndicate?).
The syndicate divides any prize by total entry points, so the guy who enters 10 tourneys at $20 gets 200 points and the girl who enters 2 tourneys gets 40 points.
We'll have to work out the tax issue, but I'm sure we can find a CPA or someone to help us figure this out.
If you are interested write me at mark.mdme@juno.com
Mark Mattson
Reply Thread
MarkMattson (Mark Mattson)
Member Since: 08/2006
Posts: 40
Views: 23
Replies: 0
Created:
7/19/2010 1:38:10 PM
Updated:
Category:
General
Subject:
RE: WSOP Entry Syndicate?
Message
Nobody wrote me with any interest, so I had to find a group in Raleigh doing this.....
