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Slots Wynn $2,500 Buy-In Slot Tourney / Are they worth it?

Discussion in 'Slots' started by spdandpwr, Jan 14, 2020.

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  1. spdandpwr

    spdandpwr VIP Whale

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    I just got an invite for a slot tournament at Wynn and was curious if anyone has had experience with the tournaments that require buy-ins? @Flowers I know you've been to one, is there any feedback on if they're worthwhile in terms of value?

    The last Tournament I went to at the Wynn had a gala afterwards with free food and drink which alone made it worthwhile, lol. But, this one is different from what I'm used to because you're risking money on both ends. First, on the front-end with the buy-in and, second, on the back-end trying to earn enough entries into the tourney.

    Also, how do they accept the buy-in? Do you transfer the money before you arrive?
     
  2. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    The last two I was invited to you paid by credit card.
     
    Well, Canada and Massachusetts are closed, back to Lake Tahoe
    Oh what the heck, I've got vacation and myVegas points to burn. . . .
  3. Flowers

    Flowers VIP Whale

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    They are 10000% worth it IMO (and I say that even though I have never won a big prize) and I am going to the one that starts on February 28th!! I do my buy in via credit card, which I typically do via my host literally 24 hours before it starts. You should call though soon to reserve a spot as the buy in tournaments are very popular given the prize pool and stricture. The $500 re buy you can wait to do until after you play your main rounds.

    I think you can pay with chips, check, money order, CC or cash but if paying by check or money order the deadline is the week before whereas for cash or CC, you can pay at registration. I often miss registration so my host handles. In this case I will do myself as I will be there for the registration.
     
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  4. Flowers

    Flowers VIP Whale

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    Also RFB is included but, in addition, there is a FABULOUS spread for breakfast and lunch plus an open bar during the tournament. Everyone gets a NICE gift (no junk) and EVERYONE wins something.
     
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  5. Flowers

    Flowers VIP Whale

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    For everyone, here is the prize structure for 200 participants.

    20200114_235348.jpg
     
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  6. nostresshere

    nostresshere Mr. Anti Debit Card

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    I have been tempted to do this (Mlife does them often) - but never pulled the trigger.

    What I do not understand is why they do not offer more prices as FREEPLAY vs cash. Cash is reportable income, even if you drop it all back into the slots. And many/most of the folks that would play this would surely put that much through the slots during their stay.
     
  7. spdandpwr

    spdandpwr VIP Whale

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    Yeah, from a tax perspective, it's sort of lose / lose. You can't write-off your buy-in and so if you recoup it from the CASH prize, now you have to pay taxes on it...despite the fact that you're net even lol.
     
  8. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    I'm (almost) sure that you can negotiate FP instead of cash AT the tournament.

    I realize that there are many things different in this example, but enough that it may be relevant:

    A woman won $10,000 cash in a drawing at Harrahs Reno, and my aunt and her friends convinced her to negotiate the $10,000 in Free Play.

    Can you imagine what $225,000 in FP would be like?
     
    Well, Canada and Massachusetts are closed, back to Lake Tahoe
    Oh what the heck, I've got vacation and myVegas points to burn. . . .
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  9. spdandpwr

    spdandpwr VIP Whale

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    I'd be getting some good comps after that thought ;)
     
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  10. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    Yeah, but AFAIK, the Wynn doesn't give points on FP. :(
     
    Well, Canada and Massachusetts are closed, back to Lake Tahoe
    Oh what the heck, I've got vacation and myVegas points to burn. . . .
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  11. Flowers

    Flowers VIP Whale

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    Correct, it doesn't. Some low volatility washing though could be done and playing on even a fraction of those winnings from the washing would be sweet!!

    I washed through 11k in free play I think in just a couple of hours back in November, so, surprisingly, one could wash through 225k in free play, depending on what you were playing, in just a couple of days at a leisurely pace.

    But, I would prefer the cash for most prizes. Losses for me would likely offset the taxes for the smaller prizes. My guess is a lot of players who participate in these tournaments are similarly situated.

    I am going to ask my host about whether it is possible to get the free play for the smaller five figure prizes though and will share what he says.
     
    Last edited: Jan 15, 2020
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  12. spdandpwr

    spdandpwr VIP Whale

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    You're really tempting me to give this a go. It would be my first solo Vegas trip which is kind of exciting!
     
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  13. Flowers

    Flowers VIP Whale

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    Go!! And we can cheer each other on!
     
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  14. spdandpwr

    spdandpwr VIP Whale

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    Right, so how does the tournament work? I see you earn 1 drawing for every 500 points, but what are the rounds for exactly? Or, are their two prize pools?

    One for the slot tourney -- in which you play during the rounds -- and one for the 500 points of play you earn?

    I sent a note to my host to see if she can extend the stay to four nights
     
  15. spdandpwr

    spdandpwr VIP Whale

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    So I go the information on the tourney:


    FRIDAY, FEBRUARY 28 through SUNDAY, MARCH 1, 2020
    DRAWING TICKETS (GIVEAWAY DRAWING HELD ON SUNDAY, MARCH 1 @ 11 A.M.)
    Earning:
    • 12:01 a.m. on Friday, February 28 through 9 a.m. on Sunday, March 1, 2020
    • 500 Slot Points = One (1) Drawing Ticket
    Printing:
    • Drawing ticket printing is available at any Wynn Las Vegas or Encore Red Card Desk from 12:01 a.m. Friday, February 28, 2020 through 9 a.m. on Sunday, March 1, 2020 during Red Card Desk operating hours. Giveaway drawing tickets may not be printed after 9 a.m. on Sunday, March 1, 2020.
    • Participants are responsible for depositing their own drawing tickets into the drawing drum prior to the start of the drawing at 11:00 a.m. on Sunday, March 1, 2020.
    • The drawing drum will be located at the Encore Red Card Desk beginning at 12:01 a.m. on Friday, February 28, 2020.

    FRIDAY, FEBRUARY 28, 2020
    TOURNAMENT REGISTRATION
    Encore Beach Club, located at Encore (subject to change)
    • 11 a.m. to 12 p.m.
    • Participants will select their session time and receive their tournament credentials.
    • Machine numbers will be randomly assigned before each session.
    • Guests will remain in the same session throughout the tournament, including Re-Buy session.
    TOURNAMENT PLAY – DAY 1
    Encore Casino Floor, located across from the Encore Red Card Desk (Everi Machines)
    • 1 to 6 p.m.
    • Food & Beverage provided.
    Round A & Round B
    • Participants will play in Round A & Round B of tournament play consecutively.
    • Round A & Round B will be three (3) minutes each.

    SATURDAY, FEBRUARY 29, 2020

    TOURNAMENT PLAY – DAY 2
    Encore Casino Floor, located across from the Encore Red Card Desk (Everi Machines)
    • 1 to 5 p.m.
    • Food & Beverage provided.
    Round C
    • Participants will play in Round C of tournament play.
    • Round C will be three (3) minutes.

    Re-Buy Round
    - Participants may elect to purchase a Re-Buy for $500.

    - Participants who purchase a Re-Buy will play one (1) additional three (3) minute round.

    - Each Re-Buy will be placed into a separate prize pool. The participant with the highest single score in the Re-Buy Round will win the pool.

    - The three (3) highest scores, including the optional Re-Buy Round, of each participant and/or their substitute, will be tallied to determine the order of finish.

    SATURDAY, FEBRUARY 29, 2020 (continued)
    TOURNAMENT AWARDS PRESENTATION
    Encore Beach Club, located at Encore (subject to change)

    - 6 p.m.

    - FREECREDIT prizes are valid until 11:59 p.m. on Wednesday, March 4, 2020.
     
  16. spdandpwr

    spdandpwr VIP Whale

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    @Flowers seems like the re-buy is the best way to go as it will give you a) a higher chance of winning by virtue of another 3 minutes of play AND b) gives you a second chance at winning a separate prize pool
     
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  17. mdee

    mdee VIP Whale

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    We've entered several of the Wynn Tournaments just by earning the 500 points in a day.
    I came in 17th once and other times 20th +. No price except sore hands and elbows haha.
     
  18. Flowers

    Flowers VIP Whale

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    The latter. The tournament is a standalone event. You play it looks like twice on Friday and once on Saturday, unless you do the rebuy, in which case you would play twice on Saturday as well.

    Prizes for the main tournament are awarded Saturday afternoon.

    The drawing on Sunday at 11 am is completely separate and how well or poorly you do in the slot tournament has no bearing on the Sunday drawing. You earn one ticket for every 500 points earned from Thursdaay to Sunday to 9 am. You put the printed tickets you earned in a physical (not virtual) drum and then names are called at 11 am on Sunday.

    For folks that have a Sunday morning flight it doesn't work but they would still participle in the main tournament. My flight departs around 3 pm and I will be leaving for the airport around 1:45, which leaves plenty of time for me to hear my name called between 11 and 11:15 am, collect and play my free play, grab a bite and head to the airport with my winnings! :thumbsup:
     
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  19. spdandpwr

    spdandpwr VIP Whale

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    Thanks so much for spelling it out! I'm waiting to hear back from my host -- just got a new one that seems less attentive. :(

    Anyway, my plan is to stay from Thursday to Monday. I was going to stay at the Wynn side this time but looks like the action is on the encore side. I'll shoot you a PM once confirmed if you're up for exchanging hellos. A VMB meetup would be a fun way to break the solo trip up
     
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  20. nostresshere

    nostresshere Mr. Anti Debit Card

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    Pretty sure those are different than this one, with much smaller prizes. I doubt they waive the $2,500 entry fee for this one, nor did they have a $225,000 first place prize.
     
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