Real Monthly. Real Annual. Real Benefits.
Real Poker’s members have established the Member Benefits Fund (“MBF”). The MBF is 100% funded by the optional addons in our tournament events. About 90% of MBF goes to the instant prize pool, but the balance goes to various reserves funds that include monthly and annual points, high hand of the month, and the $1K/monthly (at capactiy) and annual freerolls.
Unlike traditional tournaments, where the addons usually go to the house/dealers, in our AGPTs, 100% of the addons go to the MBF. In AGPTs, all entry/re-entry fees go into the club's general fund, not a cash prize pool as in a traditional tournament. In AGPTs, we have a minimum guaranteed prize pool (from the general fund), and a projected prize pool based on a reasonable but higher than average number of participants. If Real Poker doesn't attract enough participants and cover event overhead, the club risks losing money. Conversely, if the club makes money, all excess proceeds (“post-tax gross revenue less event overhead”) are added to the instant prize pool along with the guaranteed minimum and the vast majority of the addons from the MBF. Our goal is at least an 80% overall return to the players, with at least 10:1 return for first place money.
Rebuys are considered a re-entry and should be assigned a new seat if available. Also go into the club's general fund, but in situations where the club has already covered the overhead and then some with just the entry fees, then any rebuys go directly to the instant prize pool with the rest of the excess proceeds.
EVent overhead incluides staffing and taxes, and funding for several reserve funds based on the number of tables an event utilizes. The club reserves $1-5 per table for these funds, such as exempt programs, general and emergency reserves, equipment reserves, transportation, etc.)
The MBF and Club Reserve funds are set by the members and may be adjusted from time to time at general membership meetings.
The target goal for Real Poker is an 80% or more return to players, and a 10:1 ROI for the winner, paying 1 place every 7 players (rounded).
Notes regarding some programs during soft opening events (pre-Grand Opening):
High Hand Bonuses:
In October meeting we elected to cap the "luck box" high hand bonus at $100 per month, and throw any extra for this fund to the PotM fund. We'd like to see the PotM reaching at least $240 a month, or the equivalent of 6 freerolls. We're about halfway there now. When we get 6 tables on Tuesdays AND Saturdays, it could be topping $400.
When we're operating at capacity, that is, six tables with a wait list and where re-buys or re-entries get to the end of the line, we could conceivably give the high hand of the night a freeroll $60 event, $120 event... whatever the instant event entry fee is... for future use. Currently, it's just a $10 cash bonus off the top, for the high hand of any given tournament. But as expected, even though its just a little bonus, members now take interest in any high hand, and know what the high hand of the month is. It helps if we're all watching and tracking legitimate high hands.
Monthly Freeroll Championships:
We won't conduct a freeroll championship, open to the public, until this fund reaches $1,000. Our projections have us reaching that amount, and enough to cover the dealers, by the end of December. If we're short, we'll cover it from reserve appropriations or additional loans from somewhere. Doing less than $1K seems pointless when we're going to have $400 in overhead costs in staffing alone. Once we are operating at capacity, we anticipate having a reserve of $1,000+ for the monthly freeroll championships, which will feature a different format and a handsome "State Championship" trophy awarded to the winner of each event. Raz, Triple Draw, Pineapple, PLO8, etc. We'll conduct 12 different freeroll championships each year, saving the Hold'em event for our December freeroll which we call “the REAL Arizona State Poker Championship".
In June we voted to donate 1% of gross event revenue to local charities. In August we voted unanimously to designate member Lem's Real Men Wear Pink (American Cancer Society) as our first recipient of $100 donation from Real Poker LLC. We will continue to set aside a portion of revenue for this philanthropic program with members nominating, vetting, and approving different charities for each donation we can give. We will increase the donation threshold for this reserve fund as we grow, so that our club may, some day, be capable of donating hundreds of dollars each month to worthy, local causes. Concern for the local community is one of the seven tenants of any co-operative organization.