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OAKLAND PARK, Fla. (Gambling911.com) - A popular online poker site that caters to cryptocurrency users was facing a significant overlay issue heading into the weekend with its tournament, called The One.
Details of that tournament were as follows:
- Guaranteed prize pool: $5 million
- Buy-in: $250
- Entries reported by October 9–10: Just over 10,000
- Final starting flights: October 12
- Estimated overlay at 10,000 entries: $2.5 million, before accounting for tournament fees.
The event needed at least 20,000 entries to cover the guarantee, and potentially more once tournament fees are considered.
As of Monday evening, The One was down to hundred players.
We are down to the final 100 players! Join the watch party with @trotmantpoker in the CoinPoker Discord here: https://t.co/qGu3YjNmpy
— CoinPoker (@CoinPoker_OFF) October 12, 2026
Deadspin pointed out that the $5 million gets paid either way, and the difference comes out of the poker site's pocket. That difference could have been significant.
To actually collect $5 million at $250 a head, CoinPoker needs 20,000 entries. As of Friday it had a little over 10,000, with a handful of starting flights that were still taking place over the weekend.
First place takes $1 million of it. To actually collect $5 million at $250 a head, CoinPoker needs 20,000 entries.
How Much Would CoinPoker Have had to Cover?
Illustrative estimates, assuming the full $250 buy-in contributes to the prize pool
Final entries Estimated overlay
11,000 $2,250,000
12,000 $2,000,000
13,000 $1,750,000
14,000 $1,500,000
15,000 $1,250,000
16,000 $1,000,000
There's another financial consideration: CoinPoker offered a $250 buy-in refund to players who qualified for Day 2, adding to the promotional cost.
What a Difference a Weekend Makes
By Monday morning, The One sailed past the $5.2 million mark, effectively eliminating any overlay concerns.
The talk quickly turned to whether the guarantee could approach the $5.5 million mark, or even $6 million.
- Ace King, Gambling911.com
- Ace King, Gambling911.com
