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Partypoker May Need to Foot the Bill for the Caribbean Event

Caribbean Party Poker has been the resounding success it was advertised to be. However, several of the events didn’t excite the minimum interest needed to offset the advertised guaranteed prize pool. As a result, the hosts will have to pick up the difference themselves.

A Great Caribbean Party but What About the Game?

Everyone enjoys attending or hosting tournaments, but perhaps fewer people realize that it all carries a certain risk. The risk, most commonly, has to do with players overplaying their hands and losing a lot of money or hosts miscalculating how many people would potentially attend a certain event, leaving them out of their depth and having to foot the bill.

This is precisely what happened at the Caribbean Poker Party hosted by partypoker, one of the popular card room and tournament host. As part of the 10-day event that is continuing until November 18, there have been quite a few competitions that didn’t make the cut, obliging the company to pay out of their pockets.

The first event to miss the mark was particularly important one – the $25,000 High Roller, which came with a hefty $10 million in promised money. The 394 registered entries were far from enough to help partypoker pick the slack.

Even more surprisingly, the $5,300 Main Event also struggled to inspire people, and with only 1193 registered entries, the pool is far below the guaranteed prizing money. Again, the staggering amount of the fund is $10 million, which now leaves partypoker out with two multi-million payouts to write off their own check.

This comes as an even more bitter surprise to John Duthie, the partypoker LIVE CEO, who had big hopes for the tournament in terms of player participation. Mr. Duthie also wanted to re-create the success of the European Poker Tour series with the Caribbean tour and take it from there.

However, this estimate may have been miscalculated, as the facts now reveal. With quite the sum left to cover, and four more days of competition, partypoker will surely feel themselves up against the wall. The event was supposed to popularize the brand and spread awareness, but instead, it’s turning out to leave them in debt to players.

With this in mind, the question remains whether several multi-million pots can be supported at a single tournament, especially when the Caribbean is a destination, which, while holding a certain appeal and fascination, could be a bit too far-fetched for the average gamer to attend.

Now that partypoker is faced with the problem, they will need to find out a way out of the predicament. To do so, the tournament host will have to start introducing a number of promotions and cheap buy-ins to ensure that more people start hitting the satellite events planned for November 25 onwards.

The company will have to significantly increase its offer in the next month or so to make sure it can partially offset the losses.

Even if the event’s financial end is not met, though, the Caribbean Party Poker was properly hosted and organization has been immaculate.

Only, partypoker may be more careful with the multi-million pots next time.

Simon Deloit

Simon is a freelance writer who specialises in gambling news and has been an author in the poker/casino scene for 10+ years. He brings valuable knowledge to the team and a different perspective, especially as a casual casino player.