The third and final starting flight of the CPPT II Westside Poker Championship $100K Guarnatee is in the books here at the Hollywood Park Casino. Just 15 of today’s 149 entires advanced onto Day 2, ...
Low Interest Expected for November-Nine Money
$21.1 Million Waits Safe and Secure for Finalists
With a volatile U.S. market and low interest rates, the final nine players in the 2011 World Series of Poker main event likely will not accrue significant interest dollars on their $21.1 million remaining prize pool in the weeks leading up to November’s finale.
Although it won’t be known exactly how much interest will be earned until the funds are withdrawn from the Goldman Sachs account, the money is expected to be risk-free. The fund’s objective seeks to “maximize current income to the extent consistent with the preservation of capital and the maintenance of liquidity.”
“With the market volatility we want the money safe and secure and that’s the priority,” said Seth Palansky, Communications Director for WSOP.
Last year, after the finalists were each paid ninth-place prize money from the initial final-table prize pool, the remaining amount of $21.7 million for spots 1-8 accrued $459 in interest over a three-month period. After the funds were withdrawn in late October, the interest dollars were redistributed amongst the top eight places in a sliding scale percentage consistent with the original payout structure. The same thing will happen this year.
Here is a look at the interest dollars in the brief history of the November Nine:
|Year||Prize Pool Amount||Interest Dollars|
|1||Doug Polk Calls Out Daniel Negreanu|
|2||Hansen, Blom No Longer With Full Tilt Poker|
|3||Casino Heist Remains Unsolved 22 Years Later|
|4||Gambling Site: 2014 WSOP Main Event Betting Odds|
|5||Ray Coburn Wins DraftKings Millionaire Maker|
|6||NJ Busts Mob-Run Sports Gambling Ring|
|7||Negreanu, McClelland To Be Inducted Into HoF|
|8||Poker Hand of the Week: What's Your Play?|
|9||Increase Win Rate With New Video Series|
|10||The Next Poker Boom May Happen In China|
|1||Judge: Poker Pro Phil Ivey Cheated At London Casino|
|2||WATCH: Man Cracks Opponent's Aces, Rubs It In|
|3||Phil Ivey's Rough Week Continues|
|4||Doug Polk Calls Out Daniel Negreanu|
|5||HoF Nominees Trade Barbs Over $1.8M Prop Bet|
|6||Iowa Police Steal $100K From Poker Players|
|7||Phil Ivey Gives Interview To 60 Minutes|
|8||Poker Pro Matt Smith Wins DraftKings Millionaire Maker|
|9||2014 WSOP Main Event ESPN TV Schedule|
|10||Phelps Was Gambling Right Before DUI|