How to Make Money Hosting a Home Poker Tournament
Home poker tournaments are a great way for friends to get together and kill a few hours while playing for stakes. Some people will play for nickels and dimes, while others gladly contest pots that can reach into the thousands of dollars. Running a home game is an enjoyable experience, but it can be a money-maker, too. Offering a well-run home poker tournament will attract players of all skill levels drawn to the idea of winning more than they brought with them. If done properly, the tournament organizer can pocket a nice share, as well.
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Instructions
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Choose a poker game. No-Limit Texas Hold 'Em is the most popular poker game, mainly because it is simple to learn and encourages aggressive play. There are other types of poker, but most players are familiar with Hold 'Em.
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Select a buy-in total and payout structure. In tournaments in which the entire pot is up for grabs, a normal pay structure might award 50 percent to the winner, 25 percent to the runner-up, 15 percent to the third-place finisher and 10 percent to whomever places fourth. For a tournament in which the host takes a cut, the numbers might look more like 45/22/10/8, with the other 15 percent going to the host.
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Send out an open invitation. The more players you can attract, the bigger the pots and the larger your share. Include what the stakes are and how the prize positions will be paid out. Don't send invitations to more players than you can handle, and be clear on whether people can invite others to come along. Having too many players is a problem.
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Agree on a blinds structure once everyone has arrived. Some players prefer to see the blinds (another name for the ante before the hand) go up quickly so the game doesn't take as long. Others would rather have the blinds climb slowly. Once a format is agreed to, shuffle the cards and start the tournament.
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Pay the winners. For a tournament with $1,500 in the pot, the winner should take home around $675, the runner-up $330, the third-place finisher $150, the fourth-place player $120 and the host $225.
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Tips & Warnings
To encourage aggressive play, take a portion of the pot and set it aside for "bounties." A bounty is earned when one player eliminates another and usually is a small portion of the pot, no more than 1 percent per elimination. Bounties won't make players rich, but they will give players extra incentive to knock other players out.
Don't keep too much of the buy-in for yourself. People want to know they're getting their money's worth, and by pocketing 25 or 30 percent of the entry fees, you run the risk of players going somewhere else.
References
- Photo Credit poker image by cherie from Fotolia.com
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Comments
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pokerview is open to us players as well.
