Gateway Poker Classic

I'll be playing several tournaments in the Gateway Poker Classic at Harrah's in St. Louis 12/2/11 thru 12/11/11. I'm looking to sell 30% of my action.

Let me know if you want a piece.

Expenses are set at $1080 and tournament entries & fees at $3920 for a total bankroll of $5000. Each share is $50 and is worth 1% of my final bankroll*. Taxes will be the sole responsibility of the individual shareholders.

Hotel (10 nights) $600
Gas/parking $80
Food, drink, & incidentals $400 ($40/day)


Tentative schedule:

Event #1, 12/3/11 No Limit Holdem entry charge & fee $500 + $65 (2-day event)
Event #2, 12/4/11 No Limit Holdem entry charge & fee $200 + $45 (Seniors event)
Event #3, 12/5/11 No Limit Holdem entry charge & fee $200 + $45
Event #4, 12/6/11 No Limit Holdem entry charge & fee $200 + $45
Event #5, 12/7/11 No Limit Holdem entry charge & fee $300 + $55 (6-max)
Event #6, 12/8/11 No Limit Holdem entry charge & fee $500 + $65 (2-day event)
Event #7, 12/9/11 No Limit Holdem entry charge & fee $300 + $55
Event #8, 12/10/11 No Limit Holdem entry charge & fee $1000 + $100 (2-day Main Event)
Event #9, 12/11/11 No Limit Holdem entry charge & fee $200 + $45

Schedule is subject to change. For instance, If I make it to day two of event #1, I would withdraw from event #2. Entry charges & fees from any events I don't play would revert back to the bankroll.

This is the first time they have held this event, so it's hard to predict the turnout. I'm hoping for 300 or more participants in most of the events.

Based on 300 entrants:

$245 events (4) total prize pool: $60,000 (estimated "in the money" cash of $400 and 1st place of $13,200)

$355 events (2) total prize pool: $90,000 (estimated "in the money" cash of $600 and 1st place of $19,800)

$565 events (2) total prize pool: $150,000 (estimated "in the money" cash of $1000 and 1st place of $33,000)

$1100 event (1) total prize pool: $300,000 (estimated "in the money" cash of $2000 and 1st place of $66,000)


Worst case scenario: no cashes & no withdrawals, final bankroll $0. Each share worth $0.00

Break even scenario: cashes & withdrawals totaling $5000. Each share worth $50.00*

Best case scenario: Six wins ($178,200) & 3 withdrawals ($845), final bankroll $179,045. Each share worth $1,790.45*



*In the event I don't sell 30 shares, I'll remove one or more of the tentatively scheduled tournaments and each share will increase in value.

For instance, if I only sell 8 shares (8x50=400), I'll add my $3500 (70x50) for a total bankroll of $3900 (78 shares). I'd then eliminate Event #8 and have $2820 in tournament fees and $1080 in expenses for a total bankroll $3900. Each of the 78 shares would then be worth 1.282% of my final bankroll.