1,454 Entries Create Total Prize Pool of Over $1.4 MillionPublished on 2011-01-25 06:21:00
Say what you want about Full Tilt Poker, but one thing is for sure - they are not afraid to try out new things.
Some of their "inventions" turn out to be bombs (Matrix tournaments), while others prove to be wildly successful (Rush Poker).
Full Tilt's newest creation, Multi-Entry Tournaments, certainly seems to be falling into the "wildly successful" category after a few weeks in action on the site. Nowhere was that made more evident than in the $1k Monday event that took place last night.
To help introduce the Multi-Entry Tournaments to the masses, Full Tilt Poker is having a $30 Million "Double Guarantees Week".
All of the Weekly Guarantees (including the $750k Guarantee on Sunday) are having their guaranteed prize pools doubled by Full Tilt. In addition, all of the Weekly Guarantees (except for Shootout and Cashout events) will be switching to the new Multi-Entry Tournament format for the week.
The $1k Monday event on Full Tilt Poker usually has a guarantee of $300k. As mentioned, the guarantee was doubled to $600k as part of the "Double Guarantees Week" promotion.
This week's $1k Monday event ended up with a total of 1,454 entries, which ended up creating a total prize pool of $1,454,000. That's a ridiculously high prize pool for a Monday tournament that is not part of a tournament series.
Players in this week's $1k Monday tournament were able to register up to four times, thanks to the event switching to the Multi-Entry Tournament format for the week. Many of the players who took part in the event registered the maximum number of times (four), which helped to create the massive prize pool.
Allen Cunningham, Andy Bloch and John Racener were just some of the "red" Full Tilt pros who registered four times. In fact, most of the players who took part in the event registered at least three times.
The genius of this move for Full Tilt Poker is that the players obviously pay a tournament fee (in the case of the $1k Monday, $60) for each entry that they purchase. On a normal week, the $1k Monday will generate roughly $18k-$20k in fees for Full Tilt. This week, the event ended up generating over $87k in fees (1,454 entries x $60/entry).
So far, the new Multi-Entry Tournaments are looking like a major win for Full Tilt.
Filed Under: Poker Room News