The Venetian Poker Room is one of the top poker room’s in the United States hosting high stake poker tournaments around the year. The Venetian has hosted popular poker tours like the DeepStacks Series which draws poker players from all over America as well as around the world.
The Venetian recently announced that it would hosting a new poker tournament called Lucky Shot Poker Series & Drawing from October 21 to 27. The tournament would have a total of 7 events and the highlight of the series would be the No Limit Hold’em event which has 6 flights and a buy-in of $250. The Venetian has confirmed that this event will have a $150,000 guaranteed prize pool.
The Lucky Shot Poker Series will finish with a drawing where a total of $52,000 will be split between players who get 1 entry for every $250 buy-in that they made during the course of the tournament.
Venetian Caps Prize Pool And Uncaps Rake
While the Lucky Shot Poker Series & Drawing looks like any other normal poker tournament that the Venetian poker room hosts, this one is different due to a number of reasons. The two most important reasons are specified in the fine print which can escape most poker players who do not take the time to read through the long list of terms and conditions.
However, some poker pros have taken the time to analyse the fine print and they are not happy with what they have seen. A few players posted a screenshot of the terms and conditions while some took to Twitter to highlight the same and call the Venetian out for being unfair.
The Venetian poker room has stated that once the $150,000 buy-in is reached, any further funds collected will not go towards the guaranteed prize pool but will go into the pockets of the poker room. This is not the usual policy that top poker rooms around the world adopt as once the guaranteed prize pool is reached, tournament organizers take all of the extra money raised and throw it into the prize pool to give players a lot more money than what was promised.
The process of adding the extra money to the guaranteed prize pool, makes the game a lot more interesting, gives players who finish in the money bigger payouts and also gives the poker tournament a good rap as players know the tournament delivered more than what was promised.
However, the Venetian has decided to break away from this policy and put a cap on the prize pool and uncap the rake. So the Venetian needs 600 players to register and pay the $250 buy-in to reach the guaranteed $150,000 prize pool. If an extra 50 or 100 players register the Venetian will pocket this extra.
Players Call For Boycott
This new policy by the Venetian has upset players who feel that they are being taken advantage off and that the poker room is being greedy. Doug Polk who is very popular with the poker community is leading the charge and has called on players to Boycott the Venetian.
A number of players also called for a boycott on the popular Two Plus Two poker forum but it remains to be seen if the proposed boycott will have an impact on the Venetian and the Lucky Shot Poker Series & Drawing.
Some poker pros such as Phil Galfond who is the founder of Run It Once Poker used dry humour to express his disappointment and called for the Venetian to market this poker tournament under a Super Guarantee Format.
Venetian Poker Room Responds To Criticism
The Venetian poker room was forced to respond to the growing outcry on social media. The poker room stated that this new poker series came with lower buy-ins to cater to recreational poker players who likes drawings and special promotions. The poker room confirmed that they will go ahead with the tournament format as they were experimenting with a new demographic of players.
The poker room also confirmed that this new policy change will not be applied to regular poker tournaments held at the Venetian!

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