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Thread: WSOP Little One for One Drop is a Big One for Caesars

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    Owner Dan Druff's Avatar
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    WSOP Little One for One Drop is a Big One for Caesars

    Former NWP/DD user "thakilla" (Pat Cruse) recently tweeted to WSOP tournament director Jack Effel, asking about the prize pool for the $1,111 "Little One For One Drop" event.

    Jack Effel responded that the distribution of money is as follows:

    $900 Prize pool
    $111 One Drop Charity
    $70 Caesar's
    $30 Tournament staff

    This is almost identical to the $1000 buyin events:

    $900 Prize pool
    $70 Caesar's
    $30 Tournament staff


    Why is this worthy of discussion?

    Because Caesar's is still taking their same $70 out of the prize pool, despite $111 already leaving the prize pool for charity.

    So basically it's identical to a $1k event in terms of prize pool, except you're paying $111 extra, which goes directly to the charity.

    I don't mind the $111 going to the charity or the $30 for the tournament staff, but Caesar's should really reduce or eliminate their own $70. Otherwise, they are making big money off of a charity event, and I really don't like the idea of for-profit charities.

    Caesar's can argue that it costs them money to put on the event (paying employees, utilities, using up space that could otherwise be sold or used for cash games, etc), but it definitely doesn't cost them $70/person. If 3000 people enter this event, they will make $210,000. It does not cost them anywhere near that amount of money to put on this event, once everything is already in place (which it is), and they are making a fortune on the entire WSOP overall. The least they could do is waive or reduce their own take for their one charity event.


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    Serial Blogger BeerAndPoker's Avatar
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    Caesars is definitely taking in too much especially since this is their chance to do good for charity.

    I can see them taking some rake to offset pay for dealers but not $70 a person when they should be talking half that or less.

    It's hard to say how many true hours Caesar's have to pay out to dealers but obviously as players get eliminated less dealers get needed per hour and continues downward until the event ends.

    The dealers may or may not receive tips as well along the way for extra money to them.

    As for Caesars they are making money in other various revenue streams when all WSOP events go on that some people forget. For all the people playing in the WSOP a big percent still buy their meal(s) while playing in the casino. Many also get drinks they pay for in the Rio as well. When a final table arrives players have rails that pay for drinks that the casino would normally have an additional revenue stream comes in too.

    The bottom line is the Rio/Caesars is making money in various ways not just the rake from event entries. If you can get make even on average $10 off each player a day in food/drinks and you have 6k people playing that is $60,000 extra revenue (minus expenses) but my guess is MUCH more comes in then that on average.

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    Diamond TheXFactor's Avatar
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    What would you expect from the Bloodsuckers at Caesars?

    It just goes to show you that they really don't give a shit about the charity.
    Most of the charities you see being promoted all over Las Vegas are in
    danger of going broke, mainly because their event costs too much money.

    Only a small amount actually goes to the charity.

    Doing the event, like a special celebrity dinner or golf tournament might make
    make less money than they actually raise for the charity.

    Having someone like Joe Montana or Troy Aikman show up will cost $100K.




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    Owner Dan Druff's Avatar
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    Event is going today. People are getting pissed when they learn the truth about this.

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    Owner Dan Druff's Avatar
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    Also, you can't write off the $111 as a charitable donation on your taxes, because Caesar's is donating it.

    Jack Effel claims on Twitter that the company has already maxed out on charitable write-offs, so no one gets the write-off.


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    Serial Blogger BeerAndPoker's Avatar
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    I saw a few players the yesterday tweeting trying to find out what rake Caesars is taking from it and I'm not sure they even got replies.

    LOL at this tweet.


    Barry Wiedemann ‏@Bearw8 6h
    Playing a charity tournament for water deprived regions where WSOP gives up nothing, in a hotel that charges $5 for a 20oz. Aquafina #sucker
    Retweeted by Bryan Micon

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    Diamond PLOL's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Also, you can't write off the $111 as a charitable donation on your taxes, because Caesar's is donating it.

    Jack Effel claims on Twitter that the company has already maxed out on charitable write-offs, so no one gets the write-off.

    You can actually write off the entire $1,111. DUCY?
    TRUMP 2024!

    Quote Originally Posted by verminaard View Post
    Just non-stop unrelenting LGBT propaganda being shoved down our throats.

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    Owner Dan Druff's Avatar
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    Quote Originally Posted by PLOL View Post
    Quote Originally Posted by Dan Druff View Post
    Also, you can't write off the $111 as a charitable donation on your taxes, because Caesar's is donating it.

    Jack Effel claims on Twitter that the company has already maxed out on charitable write-offs, so no one gets the write-off.

    You can actually write off the entire $1,111. DUCY?
    Only if you're a net winner for the year. Most of the field isn't.

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    Serial Blogger BeerAndPoker's Avatar
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    While this event got a decent prize pool it still didn't get as many players as Caesars would have liked when they saw the turnout of the Millionaire Maker.

    I'd say the heavy rake taken out which had some people pissed about it and the fact some are just gearing up for the main event are a few reasons why this didn't draw like they wished especially considering it was unlimited re-entry for two days (for several hours of them) meaning players could drop a few (or more) bullets each day trying to get a stack if they would like.

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    Gold Steve-O's Avatar
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    Quote Originally Posted by BeerAndPoker View Post
    While this event got a decent prize pool it still didn't get as many players as Caesars would have liked when they saw the turnout of the Millionaire Maker.

    I'd say the heavy rake taken out which had some people pissed about it and the fact some are just gearing up for the main event are a few reasons why this didn't draw like they wished especially considering it was unlimited re-entry for two days (for several hours of them) meaning players could drop a few (or more) bullets each day trying to get a stack if they would like.
    Rake definitely hurts, but I think holding it on the 3rd and 4th of July probably cost them at least 500 entries
    I write things about poker at my Poker Blog and elsewhere on the Internets

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    Serial Blogger BeerAndPoker's Avatar
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    Quote Originally Posted by Steve-O View Post
    Quote Originally Posted by BeerAndPoker View Post
    While this event got a decent prize pool it still didn't get as many players as Caesars would have liked when they saw the turnout of the Millionaire Maker.

    I'd say the heavy rake taken out which had some people pissed about it and the fact some are just gearing up for the main event are a few reasons why this didn't draw like they wished especially considering it was unlimited re-entry for two days (for several hours of them) meaning players could drop a few (or more) bullets each day trying to get a stack if they would like.
    Rake definitely hurts, but I think holding it on the 3rd and 4th of July probably cost them at least 500 entries
    Exactly. They shouldn't hold it around the 4th since the Main Event is always known to start the first few days in July so if the WSOP does this again it should be somewhere like 15th-20th area with the Millionaire Maker remaining early on like it was.

    People like to have a few extra days off before the Main Event and bigger pros are going to play bigger buyin events that are going on at this time and not some $1,111 re-entry.

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