Partypoker Shoots for $500k Sunday Major

On May 11, partypoker will run a special edition of its $200 buy-in Sunday Major. The tournament guarantee has been increased from the regular $200k to $500k for the occasion.

While there are the usual wide variety of options to satellite into the event, players who buy in directly for the full $200 will receive a special $500 bonus if they cash in the event. The bonus must be cleared, and will be paid at the rate of $50 for every 250 points earned over 30 days.

“I discussed this with the team and like the way we are doing things differently here – taking a punt with the bigger guarantee, offering a juicy bonus for those directly buying-in and offering free satellites for new players,” said Team partypoker’s Mike Sexton.

Partypoker’s strategy of targeting promotions at recreational players has begun to pay off, according to statements made in their financial reports. The other side of the strategy has been a gradual reduction in big-money tournament events.

The annual Pokerfest tournament series started in 2011 with $3m in guaranteed events, increased to $4m, but in its latest incarnation in March this year, the headline guarantee had dropped to just $1m.

The only event with a buy in above $50 was the $200 Main Event which carried a $300k guarantee. Many of the rebuy and low stakes events missed their guarantees, but the Main Event produced a satisfactory prize pool of $329k.

Partypoker New Jersey’s attempts to create Sunday majors with big guarantees have proved successful. Even in the tiny New Jersey market, the promotional $100k guaranteed tournaments—doubling the usual $50k on offer—have both been successful.