Harrah's Collected $13 Million-Plus in Juice during 2008 WSOP$4,106,400 Came from Main-Event Entrantsby Bob Pajich | Published: Jul 16, 2008 | |
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Of all the players who walked the halls of the Rio this summer with tournament tickets in hand, only one of them was guaranteed to win — Harrah's.
Harrah’s collected $13,116,845 in juice through all 55 events during the 47-day World Series of Poker this summer. That’s 6.77 percent of the $193,743,093 that passed through the cages and Harrah’s electronic payment system this summer. The total prize pool was $180,676,248.
Not surprisingly, Harrah’s earned the biggest chunk of change from the juice charged for the main event, which attracted 6,844 entrants. Of the $10,000 buy-in, $600 went to the casino, for a total of $4,106,400.
The second-largest event for Harrah’s was event No. 2, a $1,500 no-limit hold'em event that attracted 3,929 entrants. In this and all of the $1,500 events, $135 went to Harrah’s from each buy-in. In that event, Harrah’s collected $530,415.
The largest vig collected for an event was $2,000 for the $50,000 H.O.R.S.E. championship, which attracted 148 entrants, earning Harrah’s $296,000.
11 Comments
bobbyt54us
1 year ago
this years wsop was very fan unfriendly. will make it our last time going.
xyzzy55
1 year ago
And they should what, do it for free?
johnram
1 year ago
Yeah and all you get is a 10.00 food voucher. I would love to see someone do an event at the thomas and mack and kill the WSOP. Take care of the players and they will come. How much is Harrahs making on WSOP hats pins shirts etc..
bmpek
1 year ago
get in line for next year suckers . they will be taking more juice orleans is now at four percent. belliago justs keeps taking more and giving less.
kendall2005
1 year ago
Why is it year after year and every year someone writes an article about how much harrahs makes off the wsop. They have payrolls and marketing and advertising to pay for. Not to mention equipment. last couple years they have been doing paulson chips. MINIMUM $$$ amount for order is $100,000. I wish all it took for most things is 6% to make a sucessfull poker tournament. For all the nay sayers if you dont like it just dont play. I personally wouldnt mind seeing the fields shrink a bit. Increases my odds of winning.
kendall2005
1 year ago
Oh yeah im not done.
Chips. Hmmm prolly ordered 300,000 customized chips so thats 300k off the top.
Dealers. 700 or so dealers at 200-300 per day for 60 days. hmmm.... 700 x 200 x 45 = 6.3 million.
cards..... prolly ordered 20,000 decks. 20,000 x 10.00 = 200k
SO just to run the tournament without paying directors rule managers and what not thats 6.8 million in cost. slice that right off thr 13.1 million. that leaves us with 6.3 million. Im not gonna speculate the cost of marketing and advertising. Cause there is no need. Its amazing people jump on a bandwagon without first using rationalized thought.
Ragaboo
1 year ago
I don't get it, everyone is treating the article like it is an expose on all of the ill-gotten gains of Harrah's when it is simply putting forth numbers and saying how successful the WSOP was. You guys seem to be putting your own bias on it. When I read it, all I thought was, "Wow, good for Harrah's. That's a good amount of money."
johnram
1 year ago
Well Kendall it is simple business 101 numbers. Lets say you and I start a tourney biz. How much would you want to make on say a 100k ? 20% 30% what is I told you that if you gave me 100K and after all expenses I woud give you 100k back in 30 days. You make 100% profit. Would you consider that gouging? What if the oil companys made 100% profit and gas was 42 a gallon. I bet you would think that is wrong. What percentage do you think it is fair for harrahs to make? By the way....all of their expenses are paid 20 fold by the TV contract.
good try though
kendall2005
1 year ago
thats 0% profit if i gave you 100k and after everything was paid you gave me only 100k back thats 0% profit. I broke even. BTW 6% is less than even the oil companies are making. You say the TV contract paid for expenses? HAHAH. ESPN paid 1/10th of the money that they paid for the MLB contract. You guys are knocking harrah;s for making 6%. I guess youre also knocking oil companies for making 12 billion quarterly profits too right? Even though it is not their profit percentage that brought them that kind of money.
johnram
1 year ago
Should have said gave you back 200k my mistake. No I am not knocking oil companies. They make between 6 and 8 cents a gallon. The government makes about 40 cents on that same gallon and nobody is bashing the government for that PROFIT. And how can you even compare MLB with poker. But lets get to the heart of the matter. What percentage do you think is fair for harrahs to make? 10% ? 30%? 60%? 200%?
Just a quick answer will do. I think a 20% profit is more than fair. Where do you get 6%
trotline
1 year ago
With all the records the dealers got A record of the lowest amount of money $26.90 per down! almost $10 A down less than last year! You can make that much dealing live!!I would like to see an accounting of how the money was disperced!Somebody or group got A huge raise and it was'nt the one's on the front line!!!