New Flatter Payout Structure Announced for 2024 WSOP Bracelet Events

Flatter payouts = less variance and more value for most poker players

by - Wednesday, May 22nd, 2024 1:40

wsop 2024 payouts

The 2024 World Series of Poker (WSOP) will feature updated payout structures across most bracelet events – notably, these events will now offer a minimum cash prize of at least double the buy-in, according to a tweet from the company on X.

For example, a $1,000 buy-in event will guarantee at least $2,000 in winnings.

A payout calculator page published on the official WSOP website allows players to review detailed payouts for all bracelet events, including daily and weekly deepstack events.

However, the Main Event is an exception to the 2x minimum payout rule. With a $10,000 buy-in, the Main Event will maintain a minimum cash prize of at least a 1.5x ratio to the player’s buy-in and continue to pay out 15% of the field.

Final Table $$ Adjustments

In response to player feedback, the final table prizes have been adjusted. This year’s Main Event first-place prize will range from $10 million to $11 million, depending on the number of entrants. Every final table player is guaranteed at least $1 million.

Last year’s payout structure, despite a record-breaking $93.3 million prize pool, faced criticism for the large gap between first and second place, and relatively low payouts for runner-up and ninth-place finishers. In response, WSOP has capped the first-place prize at $11,000,000 – even if entries surpass 10,000 players.

Flattening Payouts in Tournaments Is Good for most poker players

“Flattening the prize pool” in a poker tournament or sit and go refers to adjusting the distribution of the prize money so that it is spread more evenly among a larger number of players, rather than giving a very large portion of the prize money to the top finishers. This approach aims to reward more players for their performance, reducing the variance and potentially making the event more attractive to a wider range of participants.

Example of Flattening the Prize Pool

Imagine a poker tournament with 100 players and a total prize pool of $10,000. Traditionally, the prize distribution might be very top-heavy, such as:

  • 1st place: $5,000 (50% of the prize pool)
  • 2nd place: $2,500 (25%)
  • 3rd place: $1,500 (15%)
  • 4th place: $700 (7%)
  • 5th place: $300 (3%)

In this structure, the top 5 players receive all the prize money, with the winner getting a substantial portion.

When the prize pool is flattened, the distribution changes to give more players a share of the winnings. For instance, the same $10,000 prize pool might be distributed as follows:

  • 1st place: $2,500 (25% of the prize pool)
  • 2nd place: $1,800 (18%)
  • 3rd place: $1,200 (12%)
  • 4th place: $900 (9%)
  • 5th place: $700 (7%)
  • 6th place: $600 (6%)
  • 7th place: $500 (5%)
  • 8th place: $400 (4%)
  • 9th place: $300 (3%)
  • 10th place: $200 (2%)
  • 11th-15th place: $100 each (total 5%, $500)

In this flattened structure, 15 players receive a portion of the prize money, with the top prize being reduced significantly, allowing for more players to benefit from their performance in the tournament.

Benefits of Flattening the Prize Pool

  1. Encourages Participation: More players are likely to enter the tournament knowing they have a higher chance of winning some money.
  2. Reduces Variance: Poker can be a high-variance game, and flattening the prize pool can mitigate some of the risk, making it more appealing to recreational players.
  3. Rewards Consistency: Players who consistently perform well but do not necessarily finish in the top positions can still earn a profit.

Overall, flattening the prize pool can make the tournament experience more enjoyable and financially rewarding for a larger number of players.

Online WSOP Bracelet Events for 2024

Online WSOP bracelet events will also pay out approximately 15% of the field. However, the official online bracelet schedule has not been released yet, due to to recent merger of WSOP Michigan’s player pool with those of New Jersey and Nevada where WSOP became the first poker operator to pool liquidity across three United States jurisdictions.

View the 2024 WSOP Schedule here.

David Burke

iGaming news journalist & editor at PokerIndustryNews.com & GamblingIndustryNews.com