The Winning Millions presented by Winning Poker Network had another tough Sunday with a nearly $150,000 overlay for the third time in a row during their marquee event. While players may enjoy the large overlay, it is also not surprising that things needed to change for the site to keep offering this great value. As a result a major change to the event and its future was made, but luckily players don’t lose any value.
Winning Poker Network, which consists of America’s Cardroom, Black Chip Poker, PokerHost, True Poker and Ya Poker has decided to cancel the final two Winning Millions, but that doesn’t mean they have left players out in the cold as they have scheduled 4 new events in their place with a lower guarantee on each. Luckily for players though that lower guarantee is also met with a significantly lower buy-in. Now, Winning Poker Network is going to be offering a $500,000 guaranteed event for the next four Sundays with a $270 buy-in. The reason we are announcing it without an official release of any kind yet, is because we want to give our players the maximum amount of time to make the changes they feel necessary to their schedules to accommodate this interesting news.
Why this was done is still under some speculation as there has been no official announcement from the popular poker rakeback site, but it isn’t that difficult to figure out why it was done. As mentioned, the Winning Millions once again was met with a large overlay of just under $150,000, bringing the total for the 3 event series to a staggering $450,000+ in overlays. It was clear that something needed to be changed and while moving the time back to 5PM did help some, the need to lower the guarantee and price tag with it was also a needed evil.
The new price tag is a rather competitive one as most Sunday Majors on different sites cost in the $200-$250 range with much lower guarantees, at least those available in the US market. This new guarantee for at least the next 4 weeks will put it in a range that will make it desirable to more recreational players as the price isn’t that high, but also more regular players as there are a lot more satellites that can be run that are not exceptionally high in buy-in. It is an aggressive move that has been met with a lot of positive comments, despite not having been officially announced yet.
There is still some major disappointment though among players though as the United States loses the only Million Dollar Guaranteed tournament that they had access to. That being said, it was clear that the market just wasn’t big enough to support that kind of event at that buy-in. This new direction might yield better results long-term if they can get players from different sites to finally be interested. It’s unclear if this will do that, but it is at least an attempt to the do the right thing when it was clear that the current situation was untenable.
Players should not take this as a sign that the site is insolvent though, as the parent company of the site is quite large and can take risks that don’t work out rather easily. Further, many sites in the past would have kept pushing guarantees that they couldn’t meet in hoping of just grabbing money for as long as they could. Winning Poker Network is taking the responsible stance on their future and trying to make a long-term solution that is good for players and their site.
Winning Poker Network, which consists of America’s Cardroom, Black Chip Poker, PokerHost, True Poker and Ya Poker has a responsibility to their players, but also their bottom line and so while this news is not the best ever, it is also a very smart move that many players are applauding. A $270 buy-in should make this even more competitive to a wider range of players and while they are getting rid of the $1,000,000 guarantee, they are not actually taking away any money from players, they are just redistributing it into other events. As more information comes out we will pass it along to players, but it is safe to assume they will aggressively be seeking to satellite players into this weekend’s event. Do you agree with the move made by Winning Poker Network? If this move pissed you off and you feel the need to move your business to another site, we understand, and we have a list of the best US poker sites available for you to research for yourself. Tell us your thoughts on the situation on Twitter and Facebook!