Posted by Johnnymac 10:16 PM
And in response to Fro's post on the "expected utility" of the charity tournament, I don't disagree at all that the opportunity to play in the WSOP may be worth the cost of playing in the tournament and I said so in my last post on the subject.

That said, except for the entry into the main WSOP tournament, which only goes to the winner of the charity tournament, I think that the satellite prizes aren't worth the money or the utility. If you're reading this blog and you have any experience playing poker, then you will likely agree with me that $1000 is not a lot of money. Why not just spend your own $1000 and pay for a guaranteed satellite entry yourself instead of spending a whole day against 215 other dreamers for just a chance to play in a satellite? Seems to me that spending $1000 to beat 10 people for a chance to enter the WSOP is a better bet than spending $200 (or more) to beat 215 (or 225, really) people for that same chance. I agree that there is a non-monetary aspect ("utility") to the prizes that is not inconsequential, but even then it seems that that same utility can be purchased more cheaply in the long run than to play in this event.

And at the risk of sounding like a grouch, I'll repeat my current tournament mantra that says that tournaments are primarily just a contest to see who can avoid being unlucky for the longest period of time. (BAH HUMBUG!)

In any case, good luck to Fro and anyone else who may be playing. I'm going to do my best to come out this weekend and offer some moral support.

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