Super High Rollers: A Look At The Tournament Poker Trend That Has Changed The Game

In 2008 there was only one poker tournament on the poker circuit that boasted a buy-in of $100,000 or more. Just five years later there were 12 six-figure buy-in “super high-roller” events that were open to the public.

Those 12 events combined to award just north of $67.5 million in prize money, roughly $8 million more than the World Series of Poker main event paid out in that same year.

Despite an international economic recession and the crushing effects of poker’s Black Friday in 2011, super high-roller events have flourished these past years and now take place throughout the year and around the globe — from America to Africa, Macau to Monte Carlo, the Caribbean to the Philippines and of course in the United States.

Many of the six-figure buy-in events have seen steady growth. For example, the inaugural PokerStars Caribbean Adventure super high-roller attracted 38 entrants, while the 2013 running drew 59 entries. They aren’t only growing in field size, either. The Aussie Millions continued its track record of envelope pushing when it hosted the first $250,000 buy-in in 2011, which has continued to take place annually each January.

The World Series of Poker then raised the stakes to what would have been nearly unimaginable just years earlier when it hosted the $1 million buy-in Big One For One Drop in 2012. That event was to have a capped field of 48 players, although many doubted it would sell out. The doubters were proven wrong, as the event had to turn away several willing participants. In the end Antonio Esfandiari walked away with a $18,346,673 payday, the largest ever in poker history.

Many still doubted if these type of events were here to stay, but seven years after the first $100,000 buy-in event took place at the 2006 Aussie Millions, the World Poker Tour demonstrated just how integral these events had become to the poker industry when it kicked off the first tour dedicated entirely to super high-roller events, the WPT Alpha8.
By 2014 it’s clear that the super high-roller trend is not going to lose steam anytime soon. But is that a good thing? It depends on whom you ask.

Controversy Down Under

It’s only appropriate that the Aussie Millions, the storied tournament series that incited the high-roller trend, would be the catalyst for a public dialogue regarding the state of tournament poker and how super high-rollers fit in.

The 2014 Aussie Millions’ two super high-roller events had record years, with an incredible 76 entries in the $100,000 buy-in and 47 entries in the $250,000 buy-in, both roughly doubling their largest prior field sizes.

The huge turnout this time around was in large part aided by the fact the players could reenter an unlimited amount of times until the start of Day 2 in both events, an option that many players took advantage of. One player in particular took issue with how the events went down, high-roller regular Dan Shak, who posted his grievances on Twitter and was soon involved in an online summit of sorts on the matter.

“It just doesn’t seem right that these events overshadow the main events where people have put their heart and soul on the line where skill is at least more than 50 percent of the game,” tweeted Shak. “And these massive turbo unlimited buy-ins get so much press because of how much money is on the line. Seriously considering boycotting playing them till the reentry is only one.”

Shak, who has made seven super high-roller final tables himself and straddles the line between businessman and poker pro, found plenty of supporters and detractors when he shared his thoughts on these huge events. His main interlocutor throughout the debate was Daniel Negreanu. Through numerous tweets and a blog post, Negreanu made it clear that he disagreed with Shak’s main assertions, first of which is that these events are overshadowing the main events, usually with $5,000 or $10,000 buy-ins, which used to be the highlight of a given tournament series.

“The bottom line is whomever is covering an event focuses on getting hits,” Negreanu told CardPlayer. “If the super high-rollers get them a lot of hits, more so than a main event, of course they are going to cover that! That’s what the people want obviously, because the fans are more likely to see big names that they know.”

Just think of what a casual fan would prefer to watch on television. Is it a final table filled mostly with unknown players and perhaps one recognizable face, or seven of the game’s biggest stars and perhaps one wild card businessman?

Negreanu also took issue with the idea, expressed by Shak and others, that the players or tournament organizers should try to limit the amount of super high-roller events to mitigate the possibility of permanently wrecking the players’ bankrolls with these behemoth buy-ins.

“I would say that [tournament organizers] should concern themselves with that, like, not at all. It’s a self-weeding process. We got about 40 players in these, right, and they’re still flourishing. If that changes and nobody’s playing anymore because they go broke, so be it. That’s the nature of the game,” said the two-time Card Player Player of the Year winner. “We don’t have to play big government. If people want to gamble over their head, it’s not our responsibility to tell them not to be so careless with their bankroll. It’s not our job to protect people from themselves.”

“Most likely what happens, the mid-range players and the weaker players go broke and only the top players will be left,” continued Negreanu. “Then these events will disappear or there will be less of them. That’s what happened with $10,000 events!”

Only time will tell if these events are sustainable in their current form.

Super High-Rollers Will Continue To Change The Game

Six-figure buy-in tournaments have changed tournament poker. One need only look at the current 2014 Player of the Year contender Mike McDonald’s performance in January to witness how the landscape has shifted.

McDonald has not yet won a tournament, but despite that the young Canadian garnered $4.3 million in earnings in less than a month, with a huge runner-up finish in the PCA main event and three strong showings in super high-rollers. A decade earlier, Negreanu had what is widely considered one of the best years in tournament poker history, winning four titles and making 11 final tables throughout 2004, cashing for $4.4 million.

McDonald was able to cash for nearly the same amount in one month as Negreanu did in 12. But the payouts aren’t the only stat that grew over the decade. What the prior numbers don’t show is that McDonald posted more than $950,000 in buy-ins in just the four tournaments he’s final tabled this year, with $750,000, or three bullets, alone going into the $250,000 buy-in at the Aussie Millions.

Shak’s questions of sustainability seem very reasonable when numbers like that arise. But many top pros have gone on the record saying that these events are definitely positive for the poker community.

“I think that these things really just represent a huge infusion of money from recreational players who wouldn’t necessarily play similarly high-stakes cash games into the poker economy,” said Isaac Haxton.

There are even a number of professional poker players who have seemed to have shifted their entire focus onto these tournaments. One group of friends based out of Germany, Philipp Gruissem, Tobias Reinkemeier, Igor Kurganov, Max Altergott, and Fabian Quoss, have cashed for a combined total of $14 million in them. Gruissem gave some insight as to why they have become international jetsetters following these mega buy-in events.

“These $100,000 buy-in super high-roller tournaments are the most fun and have the most money to be made, so even though I hate all of the flying, I think it’s the best approach for me right now. The level of competition is almost the same as it would be in a $25,000 buy-in event as it is in a $100,000 buy-in, so yeah, it just makes sense to play higher for me.”

Gruissem and his pals will be kept plenty busy on the super high-roller circuit in 2014, as all of the major poker tours around the world are offering six-figure buy-ins in 2014. The European Poker Tour is wrapping up this month with the EPT Grand Final in Monaco and it will play host to a gigantic €100,000 buy-in (roughly $140,000 in U.S. dollars as of press time).

The World Poker Tour is set to double down on its commitment to super high-rollers by renewing the WPT Alpha8 for a second season. “We’re looking forward to announcing the schedule for Season 2 shortly,” said WPT Vice President of Marketing David Gitter. “We are confident our players will look forward to returning to some familiar, and exploring some new locations around the globe.” Episodes from the first season began airing on Fox Sports 1 in March.

Perhaps the most exciting news in the ultra-high stakes tournament poker world is that the $1 million buy-in Big One For One Drop is returning to the WSOP this summer. Since the 2012 event sold out, organizes expanded the field to 56 players for 2014, meaning that the winner could walk away with a first-place prize of more than $20 million if every seat is sold.

As of press time there were already 23 confirmed participants, including defending champ Antonio Esfandiari, organizer and billionaire businessman Guy Laliberté, UK entrepreneur Paul Newey, three more anonymous businessmen and elite poker pros such as Phil Ivey, Phil Galfond, Jason Mercier, Erik Seidel, Sam Trickett, and many more.

“Amazingly I lost a million dollars in this event in 2012 but still had a great time,” said American investor Bill Perkins, who has also already committed to playing. “Little do the others know, but that was all part of a plan to set them up for this year. I’m calling my shot now. I will win the 2014 Big One For One Drop.”

In addition to all of the super high-roller action, casinos and tours around the globe have committed to the idea of providing high buy-in, smaller field action to meet the demands of players.

In addition to the 12 six-figure buy-in tournaments in 2013 there were also another eight events with buy-ins between $50,000 and $100,000. And while there seem to be fewer and fewer $10,000 buy-ins around the world, $25,000 high rollers continue to run on the EPT and in poker rooms such as the Bellagio, which has committed to running monthly high-rollers throughout 2014.

It remains to be seen whether or not the super high-roller trend is sustainable or if it is good for the game, but it is clear that the trend towards bigger buy-in events is no flash in the pan. Poker players and fans alike will just have to hold on tightly to their seats as this wild ride could just be getting started. ♠

A Look At The Superstars of the Super High-Rollers

By Erik Fast

Super high-roller event fields are largely made up of the same ingredients. There are the wealthy businessmen looking to test their considerable wits against the best in the game, and there are the poker pros looking to prove their dominance over both the amateurs and their fellow pros alike. Here we take a look at the players who have established themselves as the elite in the super high-roller fields.

Sam Trickett — The British former soccer star has cashed in five open events with buy-ins of six figures or higher, with those scores alone totaling $16.2 million of his just under $20 million in career tournament earnings. In those five events he cashed for seven figures three times and eight figures once. As far as how he finished in those events: he won twice, finished runner-up twice, and placed seventh. His largest score came when he finished runner-up in the 2012 Big One For One Drop $1 million buy-in, earning $10,112,001 (the third largest payout in tournament poker history).

Tobias Reinkemeier — Germany’s Reinkemeier was one of the early stars as more and more and bigger and bigger high-roller events were rolled out around the world. He has roughly $7.3 million in live tournament earnings, with nine final table showings in $25,000 buy-in or higher events, including two gigantic runner-up finishes in super high-rollers. He earned $1.3 million for placing second in the 2013 Aussie Millions $250,000 and then another $1.4 million for a runner-up showing in the 2012 EPT Grand Final €100,000 buy-in. He also finished third in the WPT Alpha8 £100,000 for $564,480.

Erik Seidel — American poker pro Erik Seidel has a World Poker Tour title and eight WSOP gold bracelets to his name, but in recent years his bread and butter has been mega buy-in events. He has final tabled nine events with buy-ins of $50,000 or more since 2009. In 2011 he utterly dominated the burgeoning super high-roller circuit, winning the inaugural Aussie Millions $250,000 buy-in for $2.5 million, winning the $100,000 Five Star World Poker Classic for $1 million, and finishing third in the Aussie Millions $100,000 for another $625,000.

Phillip Gruissem — Gruissem absolutely crushed the inaugural season of the WPT Alpha8, winning back-to-back events in the fall of 2013. First he took down $1.4 million for topping the £100,000 buy-in event in London, then less than a month later scored another $1,086,400 for winning the $100,000 buy-in in St. Kitts. He has cashed in 12 events with buy-ins of $25,000 or higher since late 2011, and has put together more than $8 million in career live tournament earnings in less than five years on the live circuit.

Scott Seiver — Scott Seiver has proven to be a major threat in six-figure buy-ins, making the final table in four open super high-roller events in 2013 including a win in the PokerStars Caribbean Adventure $100,000 buy-in event for $2,003,480. He went on to finish sixth in the EPT Grand Final super high-roller, runner-up in the WPT Alpha8 London and fifth in WPT Alpha8 St. Kitts. Seiver has nearly $9.3 million in live tournament earnings already in his career. ♠