For comparison's sake. The last two major US tournaments were the Philadelphia and Chicago Open.
Philadelphia Open: $225 entry fee with $60K guaranteed. The class prizes were $4K to $5K.
Chicago Open: $235 entry fee with $100K guaranteed. The class prizes were $3k to $5K.
So Millionaire Chess will be 5x the fee for 10x more guaranteed. Seems like a good deal, especially if it has a low turnout.
The people who think this event will be a huge flop should be rushing to sign up because the prize fund is guaranteed.
Lol.
You know there is a nonzero chance that "guaranteed prize fund" is just posturing in order to attract more players, which would indeed guarantee the prize fund ?
I think advertising a guaranteed prize fund is always a tactic to increase turnout and not just for chess.
> Seems like a good deal, especially if it has a low turnout.<
Sure. Hey, let's make the entry fee $10,000 and the payouts $10,000,000. An even better deal!
Earth to you...
> Seems like a good deal, especially if it has a low turnout.<
Sure. Hey, let's make the entry fee $10,000 and the payouts $10,000,000. An even better deal!
Earth to you...
I'd be much more risk-averse over $10K than $1K. I don't think Ashley and Lee intend to escape in the middle of the night with the prize money if the turnout is only 500-600 people and I wouldn't mind betting $1K on that fact. To suggest otherwise is to call him a liar and a thief and I haven't seen any evidence of that. I think Ashley is legitimate and genuinely wants to make this succeed. And I don't think he wants to do something shady and hurt his reputation if the turnout is low. If Kasparov were hosting this, I'd be much more concerned.
he majority of the prizes are token amounts, $2000, $1000, and $600. These won't pay most peoples expenses.
In every other major US chess tournament, the people who get the low end prizes are lucky to get their entry fee back once you consider all the ties. If you're from out of the area, you almost have to finish clear 1st or 2nd to break even if you're paying for hotel and airfare. If you're playing chess for the money, you have the wrong hobby. (...)
So all of the arguments about the cost of the tournament for people who don't finish at the top are moot. (...) The biggest difference is that you have a chance to make a bigger return on your entry fee than at almost every other chess tournament.
Rough summary : money doesn't matter, but you should come in it for money.
At the moment there are 18 players in the open section. The absolutely guaranteed prizes are split as follows:
1st place – $100,000
2nd place – $50,000
3rd place – $25,000
4th – $14,000
5th – $8,000
6th – $4,000
7th to 20th – each $2,000
21st to 50th – each $1,000
No brainer. Get your ticket.
At the moment there are 18 players in the open section. The absolutely guaranteed prizes are split as follows:
1st place – $100,000
2nd place – $50,000
3rd place – $25,000
4th – $14,000
5th – $8,000
6th – $4,000
7th to 20th – each $2,000
21st to 50th – each $1,000
No brainer. Get your ticket.
Emphasis added.
Of course there will be a last-minute rush.
Last minute rushes are expensive.
They can always reduce the post-July 31, entry fee. Also, they still have the right to cancel and cut their loses.
The small amount of research that I have done indicates that, for other tournaments, most players register in the last two weeks preceding the tournament This could get to be interesting.
he majority of the prizes are token amounts, $2000, $1000, and $600. These won't pay most peoples expenses.
In every other major US chess tournament, the people who get the low end prizes are lucky to get their entry fee back once you consider all the ties. If you're from out of the area, you almost have to finish clear 1st or 2nd to break even if you're paying for hotel and airfare. If you're playing chess for the money, you have the wrong hobby. (...)
So all of the arguments about the cost of the tournament for people who don't finish at the top are moot. (...) The biggest difference is that you have a chance to make a bigger return on your entry fee than at almost every other chess tournament.
Rough summary : money doesn't matter, but you should come in it for money.
Despite the snark, that's actually a pretty good summary. People generally aren't going to chess tournaments to feed their kids and pay the electricity bill. But your odds in this one appear to be better than all other open tourneys held in NA. Having a good tourney has a much better payoff than usual. I still wouldn't add playing chess to my retirement funds planning.
Cowardlybishop, only poker should cost ten grand a pop. Or vacations, amateur cars, all kinds of things. But not chess, that's just immoral. MrDamonSmith and Scottrf you hope its successful and that's why you've deluged us with negativity, rather than either joining the tournament or just stfu.
Cowardlybishop, only poker should cost ten grand a pop. Or vacations, amateur cars, all kinds of things. But not chess, that's just immoral. MrDamonSmith and Scottrf you hope its successful and that's why you've deluged us with negativity, rather than either joining the tournament or just stfu.
I can voice my opinion all I like. Not all of us like pom pom's as much as you.
MrDamonSmith, could you be more precise about the evil forces who are pressuring you to regard Maurice Ashley as the Messiah as opposed to the despicable Negro he truly is?
No need to be racist.
Yes, you can voice your opinion all you like, then lie that you hold an opinion contrary to the one you've been shouting from the rooftops. Think you're fooling anybody with that bullshit?
This just got weird.
Yes, you can voice your opinion all you like, then lie that you hold an opinion contrary to the one you've been shouting from the rooftops. Think you're fooling anybody with that bullshit?
Why can't you criticise something but hope it's successful?
If I criticise my rugby team for how they are kicking too much compared to running with it, does that mean I want them to lose?
Engage your brain rather than crying about every negative comment.
he majority of the prizes are token amounts, $2000, $1000, and $600. These won't pay most peoples expenses.
In every other major US chess tournament, the people who get the low end prizes are lucky to get their entry fee back once you consider all the ties. If you're from out of the area, you almost have to finish clear 1st or 2nd to break even if you're paying for hotel and airfare. If you're playing chess for the money, you have the wrong hobby. I suggested in another thread that poker is a much better RoI than chess and it's not even close.
So all of the arguments about the cost of the tournament for people who don't finish at the top are moot. That's the environment for all chess tournaments here. The biggest difference is that you have a chance to make a bigger return on your entry fee than at almost every other chess tournament. Anyone who plays should hopefully understand that. For the people at the top, there are other considerations, like GM/IM norms.