Plan "B"

SOLD OUT!

UPDATED 7-02-07: A total of 50 shares were sold, meaning I'll play in at least three, $550 tournaments if time allows. Each share is worth 2% of the after tax winnings in the $550 tournaments. If less than three tournies are played, any unused funds will be refunded to the investers.

While I intend to win the WSOP Main Event, I realize there is a chance that I won't.

Therefore I'm building a bankroll to use in the 2nd chance tourneys.

There are eight $550 "2nd Chance" tournaments, one each day, from July 9th thru July 16th.

If and when I get knocked out of the Main Event, I'll play in these the rest of the week. These are one day events and will pay approximately 10% of the field.

In a perfect world, I'll be involved in the Main Event all the way to the Final Table and won't play in any of these 2nd chance tourneys. In that case, all stakers money will be refunded.

Realistically though, I'll probably have at least a few days where I'll be able to play some.

Maximum of 100 shares at $33 per share will be enough to play in at least 6 of them. If I sell out, each share would be worth 1% of my after tax winnings. If I don't sell out, I'll use the bankroll to play as many times as I can and each share will be prorated.

For example, if I sell only 50 shares, each share would be worth 2% of a $1650 bankroll (enough to play in at least 3 of them).

SHAREHOLDERS:

Pat F. 8.7425 shares ($288.50)
John G. 1 share ($33)
Carolyn T. 1 share ($33)
Jim K. 1 share ($33)
Rick P. 2 shares ($66)
Richard G. 6 shares ($198)
Jerry M. 1 share ($33)
Mac 1 share ($33)
Ann L. 2 shares ($66)
Brian M. 1 share ($33)
Anonymous Cardinal Fan 1 share ($33)
Bob S. 75.75% of 1 share ($25)
Alan F. 4.5 shares ($148.50)
Susan L. 1 share ($33)
Kenny W. 1 share ($33)
Jeff F. 3 shares ($99)
Les J. 6 shares ($198)
Dave P. 1 share ($33)
Joe T. 3 shares ($99)
Dave C. 1 share ($33)
Steve R. 2 shares ($66)
Bill W. 1 share ($33)

TOTAL SHARES SOLD: 50
Each share worth 2% of the after-tax winnings in the $550 tournies.


If you have a piece of the Main Event bankroll, I highly recommend spreading some of your risk by investing in this bankroll as well (or shifting some of your Main Event money to this one).

You don't want to have all your eggs in one basket. The Main Event will be a one-shot deal, while this bankroll will be spread over multiple tournaments, offering a better chance of cashing (albeit for a smaller amount).

Thanks in advance,

Pat

Vegas, here I come

SOLD OUT!

I'm going to play in the Main Event of the 2007 World Series of Poker being held at the Rio in Vegas, July 6th thru July 17th.

It is a $10,000 buy-in, so there are 100 shares available, at $100 per share (you can buy less than a full share if you choose).

First place will likely be between $10 million and $12 million. Just making the money will be $20,000 or more.

Each share will get you 1% of my 2007 WSOP Main Event winnings, after taxes.

I reserve the right to make deals at the table as I see fit.

Pokerstars will pay me an additional $100,000 if I make the Final Table, $250,000 if I make the Final 3, and $1,000,000 if I win the tournament. 100% of this additional money and any money or goods from endorsements or Pokerstars promotions will belong to me alone.

If you buy 10 shares, you get 1 share for free (limit of 2 free shares)

For agreeing to wear Pokerstars attire, I'll get $1000 to offset the lodging and other expenses, so the stakers will not have to bear those expenses on this trip.

I've decided to offer a bonus to my Catoosa trip stakers. For each share you bought of the Catoosa trip (not counting any bonus shares you had), you can buy one share of the WSOP for a discounted price of $75. For instance, If you bought 1 share of the Catoosa trip, you can buy 1 share of the WSOP trip for $75. If you bought 3 shares of the Catoosa trip, you can buy up to 3 shares of the WSOP trip for $75 each.

I've made my flight and room reservations and leave on the 4th of July.

I'll be at the Super 8 on Koval Lane for four days from July 4th thru July 7th, at the Rio for five days July 8th thru July 12th, and back at the Super 8 for six days July 13th thru July 18th.

Here are the shareholders so far:

Pat F. 9-5/6 shares ($983.34)

Les J. 28 shares (includes 10 shares at Catoosa discount, 16 regular shares, and 2 bonus shares) ($2350)

Alan F. 1 share ($100)

Kenny W. 1 share ($100)

John G. 1 share at Catoosa discount ($75)

Jeff F. 4 shares (includes 1 share at Catoosa discount) ($375)

Dean B. 11 shares (includes 10 shares and 1 bonus share) ($1000)

Phil F. 11 shares (includes 10 shares and 1 bonus share) ($1000)

Dan F. 5 shares ($500)

Mike M. 1 share ($100)

Jim K. 2 shares at Catoosa discount ($150)

Scotty J. 1 share at Catoosa discount ($75)

Junior V. 1 share at Catoosa discount ($75)

Carolyn T. 1 share ($100)

Richard G. 2 shares ($200)

Chad S. 1 share at Catoosa discount ($75)

Rick P. 2 shares (including 1 share at Catoosa discount) ($175)

Jerry M. 3 shares at Catoosa discount ($225)

Mac. 3 shares at Catoosa discount ($225)

Ann L. 1/2 share ($50)

Brian M. 2/3 share ($66.66)

Bob S. 1 share at Catoosa discount ($75.00)

Jeff B. 1 share ($100)

Dave P. 1 share at Catoosa discount ($75)

Joe T. 2 shares ($200)

Dave C. 1 share at Catoosa discount ($75)

Kenny M. 1 share ($100)

Bill W. 1 share ($100)

Andy F. 1 share ($100)

Jerry G. 1 share ($100)

SHARES SOLD: 100
Each share worth 1% of the after-tax winnings in the Main Event



If you would like to shift some of your money to the "2nd Chance" bankroll, let me know. This will free up some shares for others and spread your risk over several tournaments rather that 1. All your eggs in one basket, don't ya know.

Thanks to all the investors!

Pat

How I did it.....Heads-up for $12,000 WSOP package

For those of you who can stand the tedious task of reading hand histories, click on
the "comments" link at the bottom of this post. I've posted the 32 hands I played
heads-up with Bignutts1, to finish the tourney (hand #499 thru hand #530).

We started off with him holding a 520,821 to 287,769 chip advantage over me.

I went into heads-up mode, meaning relentless aggression and fearless bluffs.

I felt I had a pretty good read on my opponent on my immediate left. He was
playing a bit too timidly and predictably, and had been nursing a big stack from
the start of the Final Table.

His pokerdb and OPR stats weren't great, with limited experience. I assumed he's had
less heads-up experience than myself.

Of the final 32 hands, he won 10 pots and I won 22.

Of the 10 pots he won, 7 of them were minimal (just the blinds).

He won 1 pot of six-figures, I won 4.

While I never folded my small blind to him, he folded his to me, 4 times.

I "bought" 15 pots, by inducing a fold when I had nothing.

I win my way into WSOP Main Event

I used 1000 frequent player points tonight and played in a 539-man tourney on Pokerstars, with the winner receiving a $12,000 package to the Main Event of the 2007 WSOP, July 6th thru 17th.

Got some luck, played smart, and after 6-1/2 hours I'd accumulated all 808,500 in chips, and I won the thing!

A deal was agreed to, heads up, where the winner would transfer $1000 to the 2nd place finisher.

So I get the $10,000 seat to the WSOP and an additional $1000 if I agree to wear Pokerstars attire during the tourney (another $1000 if I'm still alive in the tourney on July 11th).

Go to the following web address to see the final hand:

http://www.pokerhand.org/?1156096

Wish me luck, and start saving up some share money!

Pat

Upcoming Heartland Poker Tour event in Gary, Indiana

UPDATE: This trip is pending. I may or may not play this tourney depending on the results of my Las Vegas WSOP trip. Stay tuned for later developments:

The Heartland Poker Tour comes to the Majestic Star riverboat in Gary, Indiana July 21st thru 29th.

http://www.heartlandpokertour.com/events.php

I plan on arriving on Thursday, July 26th. I'll play up to three, $450 qualifiers to the $2200 Main Event. The Main Event is a three day tourney beginning on Saturday the 28th.

Poker Bankroll $1350
Motel $260
Expenses $190

Total bankroll $1800

There will be 100 shares at $18 per share. I'll be selling up to 50 shares (assuming there are still some backers willing to get back on the horse). There will be a limit of 25 shares to any one individual, to prevent someone like Arthur Capi from buying all the shares and hogging the winnings.

Tentative schedule:

Thursday the 26th, 7pm, $450 qualifier

Friday the 27th, 10am, $450 qualifier

Friday the 27th, 5pm, $450 qualifier

Saturday the 28th, 9am (Flight "A") or 5pm (Flight "B"), Main Event Day 1

Sunday the 29th, 9am, Main Event Day 2

Monday the 30th, 2pm, televised Main Event Final Table

The Heartland Poker Tour uses a qualifying format to enable smaller rooms to accommodate the field. Excerpts below from their FAQ page:

After trying to answer as many questions as possible, we decided to sit down with Greg Lang, the co-founder of the Heartland Poker Tour and talk to him about the HPT and the structure.)

HPT: "Greg, thanks for joining us. Many HPT fans and followers who have either been at the events or watched the final table at home, have often asked about the final table structure and how you came up with it. What was your criteria when deciding on a structure format?"

Greg: "When we (Todd & I) sat down and began to develop the structure of the Heartland Poker Tour, we had several things we wanted to accomplish."

"First, we wanted to develop a structure that could potentially accommodate 1,000 players. There are very few casinos throughout the United States, much less in America’s heartland, that have the resources, space, tables, and chips to accommodate this. A multi-qualifier event structure allows us to accomplish our goal, by holding the biggest and best tournaments with moderate buy-ins. We needed to accomplish all of this, while catching the action on tape for a top notch televised poker show."

"Second, it had to be flexible. We realize, most Heartland Poker Tour players are NOT professionals! They have real jobs, families and busy schedules. Most people can not take off an entire week to play a poker tournament (even though we would all like to). This is real life and people are busy with varying priorities. To host successful tournaments, we knew we had to be sensitive to that.

Holding multiple qualifiers gives HPT players an opportunity to balance their busy lives and the ability to play a competitive televised poker tournament that fits their schedule (not ours) with HUGE prize pools. NO ONE else in the poker world is providing this. Plus, if a player does take a few days off and travels a great distance to play, the multiple qualifier structure affords him or her a chance to possibly play another qualifier. Our main event structure is not a re-buy tournament! The option to play another qualifier (at full entry fee) is a unique way to grow the prize pool and eliminate the “crazy” play that almost always accompanies a "re-buy" tournament."

"Third, the Heartland Poker Tour had to offer moderate buy-ins. We made a decision early on in the development of the HPT, that we wanted to stay true to our positioning statement that anyone can play our events. This meant keeping the buy-ins moderate and affordable for our core players. The Heartland Poker Tour is not a recreational $200 bar tournament, but it is not a WSOP or WPT level buy in either. We feel we have truly created a unique structure and buy in for real people, with huge prize pools for people that love to play poker competitively. As one TV executive put it, “The HPT players are more plumbers, than professionals and it makes for GREAT poker!”

"Last, but not least, we needed large prize pools. We were motivated to create a structure that would continually develop $250,000 to potentially $1,000,000 prize pools all while keeping the buy in between $300 and $1,000. With the multiple qualifier structure, we have been able to maximize hosting property resources and are proud to say that the prize pools continue to grow well beyond the $250,000 mark. No other structure I have ever seen allows players to enter for $300 and compete for a prize pool exceeding $250,000. We are proud to say this structure was created by players, for players, and they love it."

HPT: "Why do you typically host two qualifiers in one day?"

Greg: "Weekends are short and time is precious for most of our players. So, this gives individuals the option of when they would like to play. If they plan on committing the whole day, they may be able to play twice, if they choose. We are also able to maximize the hosting properties’ resources that are available and ready for tournament use."

HPT: "How many chips do players start with and why?"

Greg: "Typically in our event players start with 10,000 in the qualifiers and 15,000 in the main event finals. It allows for more play and better poker. This is very rare in today’s poker world, as other poker hosts are always looking to “speed up the play”. With a deep stack, the best players should typically prevail. It protects a strong player from bad beats and suck outs. When we reach the final table, there is often more than three million chips in play."

HPT: "Most recreational tournaments in the poker community are typically 10 to 20 minute rounds, why 30 minute rounds in the HPT?"

Greg: "We wanted to make it more about the poker and less about the clock. With 10,000 in chips and ½ hour rounds, we feel this makes for solid play all around. Anything longer than 30 minutes would make it difficult to play four qualifiers in a weekend and tape the final table. We are however beginning to add additional tournaments at some events that feature larger buy-ins and longer rounds with a more traditional structure."

HPT: "How many players qualify for the main event finals?"

Greg: "The top 20% from each qualifier. If there are 200 players in a qualifier, 40 of them will make it to the main event finals. At the finals they re-chip to 15,000 and grind it out with 30 minute rounds until a HPT champion is crowned. A player that goes deep on a Main event day can expect 13-15 hours of poker "

HPT: "Why are antes in place?"

Greg: "This is common in larger, more competitive tournaments and thus makes for better poker. Relating to the HPT and the 20% qualifying structure, it prevents a player from getting lucky on a suck out early on and coasting into the top 20%. If a player just gets lucky and doubles or triples up, often they think they can sit on their hands and coast into the finals. With antes in place, they wouldn't be able to do that because the blinds and antes will eat them up. They need to keep their head in the game and play poker to survive. No coasting here in the Heartland Poker Tour."

HPT: "Why do the Main Event finals start so early ... many of them at 8am ?"

Greg: "I get this question a LOT. An early AM start allows us to maximize our time, the number of seats available at a particular property, the number of qualifiers that can be run and the ability to run longer rounds and maximize the prize pool. With an early start, we can grind through 200 players or more, tape a final table, and finish before midnight. Remember, as much as we like to think we are, most of us are NOT pros and we do have real jobs. So most of us either playing or working behind the scenes have to be ready for work on Monday"

HPT: "What is the “direct buy-in” to the Main Event and how did you come up with the amount?"

Greg: "Again, it is about flexibility and appealing to all types of players. If a player does not want to play a qualifier or can't play in a qualifier, they have the option to direct buy into the finals. After all, it is poker and poker is about money. The direct buy in is calculated using 20% of the qualifier. If the qualifiers cost $500, that is 20% or $2,500 to buy in directly to the qualifier. That is five times the buy in. No deals here. If a player decides NOT to play a qualifier to enter the finals, they have pay their fair share. As a player that qualified for $500, it is important to remember that you now only need to make it through one additional player that contributed what it would have taken 5 other players to equal in terms of prize pool."

HPT: "Do a lot of people buy-in directly?"

Greg: "What do you mean by "a lot"? As our events grow and attract more players from around the country, direct buy-ins are becoming more and more common at each event. It is increasing
the prize pool and raising the level of play. If you are going to plunk down that kind of cash, chances are you're not a donkey. Most of these players probably will not be calling down to the river only to turn their bottom pair into trips. However, these are the guys that may be pushing in late position pre-flop with 8-3 off, so be careful."

HPT: "How come your chips don’t carry forward from the qualifiers to the finals?"

Greg: "Another good question. In a perfect world, this could happen, unfortunately it just doesn't work out this way. There's not always the same amount of chips in play for every qualifier. Every player knows the structure before the game starts and should adjust their strategy accordingly. It really does make for great poker in the main event finals."

HPT: "Are you looking at making any changes to your main event structure?"

Greg: "When it is in the interest of fair play and a great tournament, changes are always possible. However, it seems to be working very well and players really seem to like it. We actually crafted our current structure after months of tweaking and hundreds of comments over the last year. We even opened up a forum on our web site to solicit comments from players. Our current main event structure is the result of those comments from the players and fans. However, we're now running more than one tournament at some events. These ancillary tournaments have limited seating, feature a larger buy in and represent a more traditional structure."

HPT: "Where can players get the specific structures for each event?"

Greg: "Right here on our web site. We're committed to having complete up to date information for all of the tournaments we host. Our site, heartlandpokertour.com, will always be the home for the official structure of every HPT tournament. Of course, you can always call or visit the host casino, which is also listed on our site too."

HPT: "Is there anything else you would like to add?"

Greg: "That is it. Pretty straight forward. We truly believe that we have developed a very unique and fair structure that promotes strong play and continuously finds the best players in the money. At the same time, we are maximizing schedule flexibility, property resources, and time available to complete the tournament. If you have played one of our events and have comments on how to make it better, we invite your comments. We can be reached through the contact us tab on our site."