The Winning Poker Network (WPN) has gone back on its promise to host five tournaments this fall that each guarantee a $1 million prize pool and $200,000 to the winner.
Following a marketing blitz that began in August proclaiming that WPN is the only poker network available to U.S. players that offers $1 million guaranteed tournaments, and promising to host five such events, the network went back on their word. Three of the events were played as promised, each failing to reach the guarantee and providing players with huge overlays. But WPN apparently doesn’t understand the exact meaning of the word “guarantee.”
The remaining two $1 million “guaranteed” tournaments previously on the “Million Dollar Sundays” schedule have been taken down. Instead, WPN will now host four events that each guarantee a $500,000 prize pool and $100,000 to the winner.
For the Players? Yeah, Right!
And get this, the changes were made to benefit the players! LOL! Here is the latest spin on failing to honor the guarantee, courtesy of Americas Cardroom spokesman Michael Harris:
“We’ve heard from many players who have found our $500 + $40 Sunday tournament to be a little too expensive, particularly with the re-entry option. So starting this Sunday, we’re making our $5 Million Guaranteed promotion more accessible to players by slashing the buy-in in half. While the guarantee will also be reduced from $1 Million to $500,000, we’re extending the big Sunday tournament offering through November 8th and delivering on our $5 Million Guaranteed promise.”
Yes, you read that correctly. The ACR rep actually thinks that no longer offering the promised $1 million guarantee in the remaining two events, but doing so in four events, continues to fall in line with “delivering on our $5 Million Guaranteed promise.”
What’s a Guarantee?
Perhaps we need to inform the ACR and WPN honchos as to what “guarantee” actually means. A simple Google search finds the following:
“guar·an·tee – a formal promise or assurance (typically in writing) that certain conditions will be fulfilled.”
Uhm, WPN, you changed the parameters of the guarantee midway through and will no longer be fulfilling the conditions as originally promised. The guarantee was broken, plain and simple. Here’s some more spin published today at ACR News:
“We have a responsibility to all of our customers to offer sustainable buy-ins and tournaments. The overlays we were having on a weekly basis with this promotion were too costly and the feedback on the expense of the tournaments by our player base was that it was just too high-priced for the average player’s bankroll.”
Of course WPN is losing tons of money with six-figure overlays, as was the case in the first three “guaranteed” events. Of course they got in over their head by promising to offer five “Million Dollar Sunday” tournaments, only to find that the guarantee would not be reached in a big way. But to renege on the guarantee and to then insult the intelligence of players by suggesting it was done for the good of players? For shame!
You know what? The $500,000 guarantee and $270 buy-in is actually a good idea, that is, if you like to play at unregulated poker sites. The guarantee will likely be reached and the entry fee is more affordable.
But that should have been thought of before the huge marketing campaign touting “$5 Million Guaranteed in 5 Tournaments.” Suck it up and keep your word, WPN. Don’t renege and then try to play it off as what’s best for the players.