Jesse Rockowitz bagged the chiplead on Day 1A of the Card Player Poker Tour Atlantis main event. The Northern California native is poised to make yet another deep run, putting away 191,100 in chips for ...
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Although it won’t be known exactly how much interest will be earned until the funds are withdrawn from the Goldman Sachs account, the money is expected to be risk-free.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 After the funds were withdrawn in late October, the interest dollars were redistributed amongst the top eight places in a sliding scale percentage consistent with the original payout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||Judge Denies Ivey's Request To Dismiss Borgata Case|
|2||A Poker Life: Bryn Kenney|
|3||Resorts World Las Vegas Construction To Begin In May|
|4||CPTV Classic: High-Stakes Living With Lee Watkinson|
|5||Online Poker Hearing Dismays Poker Community|
|6||Online Poker: Ben Tollerene Wins $232K|
|7||Gunmen Rob Chicago Poker Game, Police Say|
|8||Witness List Released For Anti-Online Poker Hearing|
|9||'Tortured' Revel Situation Could Be Resolved Soon|
|10||Poker Hand of the Week: What's Your Play?|
|1||Mike Sexton 'Calls Out' The World Series Of Poker|
|2||Salomon Won $40M Last Year Playing Poker: Report|
|3||WSOP Prepares For 24K Entries In Colossus|
|4||Judge Denies Ivey's Request To Dismiss Borgata Case|
|5||Web Poker: Phil Ivey Loses Another $600K|
|6||Poker Player Gets 2-3 Years In Prison For Fatal Punch|
|7||Illinois Man Steals $420K In Poker Chips: Police|
|8||Poker Player Robbed Bank After Losing Everything|
|9||Billionaire Accused Of Not Paying Casino Marker|
|10||Cancer Surgery Successful, Doyle Brunson Says|