Revised payout schedules announced by the organisers of the World Series of Poker 2007 will mean a slightly lower main event winner's check, but a wider distribution of cash to participating players.
The new schedule has a flatter structure which Howard Greenbaum, regional vice president of specialty gaming for Harrah's Entertainment, Inc. says will "….keep more money circulating among more people in the poker community."
Taking last year's winner Jamie Gold as an example, Greenbaum explained that he received $12 million for his victory in the WSOP Main Event, whereas with the new payout schedule the first prize on a similar prize pool woluld be $10 028 715. But on the positive side for players, the 2006 main event would have paid $22 266 for 873rd through 775th places, up from $14 605 or $15 512. Places 82 through 73 would have paid $126 173, up from $66 010.
"We discussed this concept with our poker operations team and with members of the WSOP Players Advisory Council and the consensus was that spreading the wealth is the right thing to do," said Greenbaum. "The new schedules are designed to increase the rewards to players who finish in the money but don't reach the final table