Satellite Poker Series
Introducing Ugly Tuna's Poker Series for the World Series of Poker Main Event
Our WSOP Satellite Poker Series offers an exciting qualifying format for anyone who wishes to win their way into the WSOP Main Event for a fraction of the cost. Included is cash consolation prizes for 3rd and 4th places.
After 10 games played, 2 WSOP seats will be awarded to the Top 2 Leader board winners, then 18 players will be vying for the last two seats in the 'Last Chance' tournament.
BUY-IN: $2500 (rake-free) Players are required to submit a deposit before the first game to lock up their seat. Players then have the remainder of the season to pay off the balance of the buy-in.
DATES: This series hosts 11 games; 10, two-table tournaments (20 Players) and a 'Last Chance' Tournament. Prior to each season the club polls all the players for dates to be used for the entire series. Typically we play Friday nights and some times a Saturday night. Once dates are locked in, no date can be changed. Club holds the right to cancel any game due to bad weather.
Generally the season starts in December and is finished in May or earlier.
All games will be played at Tuna's Fish Pond. All tournaments begin exactly at 7:30PM.
There will be 11 games played in total; 10 two-table tournaments with one throw-away game. The last event of the series is labeled as our "Last Chance" Tournament.
This series based on 20 players.
Prize Pay Outs: This series offers four WSOP Seats with travel. Two seats are awarded to the top two season-ending leader board points finshers. Third and fourth place finishers on the Leader board are awarded cash consolation prizes. The 'Last Chance' tournament offers a single tournament to win the other two seats. The last two remaining players are awarded a WSOP seat with travel. Third and fourth place finihers of the ‘Last Chance’ tournament will also receive cash prizes. An Ugly Tuna Trophy is awarded to all winners.
Deals: Main Event seat winners may elect to have someone else play from within the series players, if they can't go. No winning player can keep the cash equivalent of the WSOP buy-in. The prize is a tournament seat not a cash prize. Any deals must be made by the two parties who participated in current season series. You can negotiate any acceptable deal but someone must go to Vegas. The club will not broker any deals for you. Only travel funds are distributed to the winning players.
Escrow: The club will place all funds from the series into an Ugly Tuna Escrow account. The club will buy in all winning players into the WSOP Main Event at the Rio Hotel. Winners won a seat not $10,000 cash. If you made a deal for the seat, those deals will not include taking any money out of escrow.
Deferment: Any winner can defer playing the WSOP Main Event for only one year for any reason. If you defer you must play the following year. Shareholders of the winning will still have 20% of equity for the following year. All winners have one week prior to start of the WSOP Main Event to declare if they will play or defer. The House has the right to alter, grant or deny based on any situation.
Player Agreement: All players are required to sign a player agreement. This agreement bounds the player to the rules and regulations laid out for this season series.
Throw-Away Game: All players are entitled to one throw away game. If you can't make a date, you can use that game as your throw away option. Absent players will have their stack blinded off. The player will receive the corresponding points based on their finish.
Dropping of Lowest Score: After 10 games your lowest score will be removed and your 9 best scores will be allocated towards the leader board totals.
Tardiness / Absent Rules: Your stack will be placed at the table and it will be blinded off. Your stack will remain at the table until you show up or the stack has been blinded off. If you stack is blinded off you will receive your points that corresponds to your placement. All games start on time, we don't wait for any late arriving players.
Seat Draws: All players will randomly pick their own seats upon arrival. Tardy players will pick their own seats upon arrival.
Rain Date: During the winter months, weather might affect a date of a scheduled game. If weather will cause the slightest traveling hazard it will be called off. Any game called off will have 6 hours prior notice. The rain date will be made up at the back end of the playing schedule when weather permits.
Shareholders Equity Kickback: The four awarded players must give back 20% to the other 19 players, if they cash at the WSOP Main Event. Any player who cashes in the WSOP Main Event will be able to keep the first $10,000 for themselves. 20% of net profit over the $10,000 will go back to all the shareholders (roughly get 1.05%) minus taxes. This will entitle everyone a small sweat for all players who participate in this series. Each shareholder maybe subject to a W-2G form for all taxable winning income.
Season Leader board players will have a determined winner. If there is a tie for the Season Leader board, then the following tie breakers will be used:
First Tie Breaker: total score of top 5 SNG finishes
Second Tie Breaker: most tournament wins
Third Tie Breaker: if the players are still in a tie after the result of the second tie breaker, the winner will be determined by playing either a small SNG or heads up game.
LEADER BOARD POINTS ALLOCATION AND POINT SYSTEM:
Each player will be awarded points based on their finish for each SNG tourney. Each position will earn you points and award you additional chips for the "Last Chance" Tourney. These points and chips are cumulative for each SNG event.
This system will keep all players active and involved throughout the SNG tourney events. Every player will start with a base starting stack of 2000 chips. Any point earned in the series gets you 75 additional chips for your 'Last Chance' stack.
All players will start with 15,000 chips for each SNG tournament. All levels are 25 minutes.
Once play becomes heads-up, players will continue their play to the end of the current level. All levels become 10 minutes thereafter. (This rule does not apply for the "Last Chance" tourney).
Antes are removed during heads-up play
The "Last Chance" tournament will have all players starting with different starting stacks based on all the chips accrued from the SNG tourney events. The top two SNG leader board winners will not play in the "Last Chance" tournament and their stack will be removed from play.
Any leader board winner who have mathematically locked up their WSOP seat will not be allowed to play any future events of the series.
After each game, all players will receive an email with a detailed spreadsheet informing all players of Game Results, The Points Leader board, and "Last Chance" chip totals amassed for all players.
Stream: All games are streamed live to our Ugly Tuna Twitch channel. Our stream gives a birds eye view of the fish pond. We have 4 cameras displaying both tables and the board cam.
Code of Conduct: All players must act in a mature and courteous manner. Unacceptable behavior is not tolerated.
Previous player(s) who left the league will get seniority privileges for the following season only. They will be placed at the top of the waiting list. This privilege is good for only one year. The player has first right to regain their seat if a seat opens up the following year.
The house reserves the right to alter, change, or cancel tournament. The club will not be held responsible in the event of typographical errors or misinformation on the website or email pertaining to this series. Players will not have any claim in these matters.