Though the Winning Poker Network’s $5 million guaranteed Venom tournament is not slated to be held until July, action has already begun. The massive tournament was announced by WPN earlier this year, but apart from it having a guaranteed prize pool of $5 million, there was little else known. That recently changed as the structure, satellite schedule, and dates of the tournament itself have all been made public.
If you do not want to waste any time or take your chances with satellite qualifiers, you can buy directly in to The Venom for a measly $2,650. The tournament itself kicks off in the middle of July, so if you do not have large sums of money sitting around for the entry price, there’s no need to worry because there is an absolute abundance of satellite tournaments and other ways to gain entry without having to spend a lot of money.
The most important structural detail of the tournament—especially for those who qualify by way of satellites—is that there are two individual kick-off days, the first of which being comprised primarily of satellite participants. Day 1 is scheduled for Tuesday, July 16, and the event is set to get underway around 1 PM ET. This is important to note for a number of reasons but principally due to it being during the middle of the day on a weekday. If you have work or familial obligations, it would be best to sort those out ahead of time lest you run the risk of being ousted from the tournament without ever having played a hand.
Flash forward to Sunday, July 21, and that is when the second starting day of action will kick off, keeping the same 1 PM ET start time. Once again, auto qualifiers from satellites will be sat automatically while those who pay the full price of admission may have some leeway with regard to choosing when they begin play. On both July 16 and 21, play will last for 12 full hours with breaks occurring intermittently as you would expect.
For those who manage to make it past Day 1, they will pick things back up on Monday, July 22 at 1 PM ET with the same chip stack they finished with on their first day of the event. Play is once again scheduled to go on for a full 12 hours, but if a final table of 8 is reached before the time limit, play will stop, and the Final Table will take place on Wednesday, July 24, with play beginning once again at 1 PM ET.
Should Day 2’s 12-hour session conclude with more than eight players remaining, there will be a third day on Tuesday, July 23 for the express purpose of winnowing the field down to just a final table of eight.
When the dust settles, WPN has committed to transferring – via cryptocurrency – $1 million to the tournament’s eventual winner.
Understanding that this is a fairly extensive and time-consuming tournament, organizers have established that entrants will begin with a chip stack of 250,000. The initial ante will be 150 chips while the first round of blinds is reported to be 500/1,000. As is typically the case, blinds will rise every half hour through the first 12 levels of the tournament (after which late registration comes to a close). By the time Day 1 concludes, blinds will be at 8,000/16,000. Should the expected number of players register and qualify via satellites, more than 225 people will walk away with cash.
If paying more than $2,000 seems a bit steep for entry into an online poker tournament, you will be pleased to know that there are multi-table satellites that feed directly to The Venom happening multiple times a day. The buy-in for these is less than $109: a considerable savings when you compare it to the standard tournament buy-in.
There are plenty of lesser satellite events as well with buyins as small as $4.40. Naturally, gaining entry into a tournament this large via low-cost satellites is a feat in and of itself, but there are ample opportunities for you to take a chance.
A roster of Step tourneys lets you earn your Venom ticket by progressing through six stages of qualifiers. Step 1 consists of six daily freerolls that award 113 seats apiece into Step 2, and each latter Step pays out in tickets for the next level. Those who make it all the way to Step 6 will be able to test their mettle against the field in an attempt to gain entry to The Venom.
Step 1 events are normal freerolls whereas all the higher Steps take place in On Demand format. This means that each game will begin once the required number of participants joins (ranging from 180 players in Step 2 to just four or five players in Step 6). However, a late registration period will them commence, permitting people to enter after the competition has already begun.
The last important item to note is that you can qualify for this poker tournament by way of a slot game at Americas Cardroom. The game is referred to as “Spin to Get In” and features stakes ranging from as little as $0.01 to $10. You must match three like symbols in order to gain entry into the tournament, and the larger you wager per spin, the more likely it is that you will collect a spot in The Venom.
All things considered, this is bound to be one of the biggest online poker tournaments of the summer in terms of number of users participating and total prize money up for grabs. With so many opportunities to gain entry happening on a daily basis, it makes sense to take a crack at it and see if you can emerge from the season $1 million richer.
Of course, in order to do so, you must have an account in good standing with Americas Cardroom or another reputable site on the Winning Poker Network. We advise our readers to register for ACR with our exclusive bonus code PRB10FREE. This will enable you to receive $10 with no deposit required. Then upon making your initial deposit, you’ll get a 100% up to $1,000 bonus and a complimentary $50 credit added to your real money balance. Browse over to our Americas Cardroom Poker review for all the details.