Daily Fantasy Sports Marries Poker at the WSOP in Las Vegas
LAS VEGAS -- Two of the most popular forms of wagering in America--poker and daily fantasy sports--for the first time ever are being combined into one event at the World Series of Poker.
According to a WSOP spokesman, a daily fantasy sports-themed poker tournament will be one of the events at the 46th annual WSOP, which got underway this week in Sin City.
The special poker tourney is being sponsored by DraftKings.com, one of the largest and most poppular fantasy sports sites on the Internet, the spokesman said.
"In the 11 years since the WSOP has been under the Rio umbrella, one thing that has been consistent is the continued tweaking and trying new things each year," said WSOP spokesman Seth Palansky, who is also an executive with Caesars, the gaming company that owns the WSOP.
"2015 will be no different," he said. "The.$1,500, DraftKings 50/50 no-limit Texas hold 'em tournament is a new event for the WSOP in 2015. It starts at noon on Saturday, June 27, and is officially 2015 WSOP Event #55."
So how does the new tourney work?
Palansky explained:
"This new event is structured so 50 per cent of the participants will be paid," he said. "The event simply offers a modified payout structure, where instead of the typical 10 per cent of players reaching the money, half the field will. Designed after the popular daily fantasy sports website DraftKings.com, an official sponsor of the WSOP, the event mimics the format utilized for one-day fantasy sports, where some tournaments offer the opportunity for half the players to win."
The new tourney is structured to be a three-day event--June 27, 28 and 29--with participants expected to reach the money just halfway into the first day of play, Palansky said.
Players will begin the tournament with 7,500 in poker chips and each playing level will last 60 minutes, he said.
"With 50 per cent of the field being paid, this event will not be top-heavy in terms of payouts," Palansky said. "The entire payout structure for this event will be unique unto itself, as it simply must spread out the prize pool to five times more players than a typical WSOP event does.
"As such, players aren’t expected to receive the typical windfall associated with WSOP gold bracelet events. But the fact that players will reach the money midway through Day 1 means there has never been a WSOP event where you can turn your buy-in into a guaranteed payout as easily as this event."
By Tom Somach
Gambling911.com Staff Writer
