The latest online poker festival by BetMGM Michigan has been off to a slow start as five of the first six events failed to cover the guarantee.
This resulted in an overlay of more than $20k. More additional value for Michigan online poker players can be expected ahead of the conclusion of the series in the Wolverine State this weekend.
In particular, the opening two tournaments were responsible for a large slice of the total overlay. The series picked up thereafter. Another four tournaments remain with $160k in guaranteed prize money still up or grabs.
The series runs at the same time as the equivalent in New Jersey with a near-identical overall guarantee.
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Partypoker US Network Online Series in May 2021
The partypoker US Network Online Series is simultaneously running from May 16 – May 23 in two regulated US states.
Both Michigan and New Jersey are running separate series with 10 events each and more than $300,000 in guaranteed prize pools. While New Jersey shares the traffic across three active skins in BetMGM NJ, Borgata Poker NJ, and partypoker NJ, the Wolverine State has a sole brand involved in BetMGM MI.
While both series are powered by the partypoker US network umbrella, the action in the states of New Jersey and Michigan remains ring-fenced. The overall experience and software client is essentially identical. However, only players physically located statewide can take part in each respective series.
The ongoing BetMGM Online Series is the second major festival in Michigan after the official launch of the brand in late March 2021. Since then, the operator has already run the Grand Online Series in April.
BetMGM MI’s debut series experienced a slow start as well and parlayed overlays in the first two tournaments. Eventually, the entire festival attracted more than 2,200 entries across all events and easily surpassed the $300,000 guarantee.
One month later, the same shaky start could be witnessed on the second legal online poker site in the Wolverine State. The schedule followed a similar path as the debut series with slightly different buy-ins and is set to conclude with a flagship $1,060 Main Event.
BetMGM Michigan Online Series May 2021
With six out of the ten events now completed and essentially half of the guaranteed prize money distributed, only one of the tournaments managed to surpass its guarantee. The biggest overlay emerged right out of the gate when Event #1: $50K GTD 8-Max NLH attracted just 75 entries on Sunday, May 16. That resulted in an overlay of $12,500, which represents more than half of the overlay thus far.
Running alongside was Event #2: $35K GTD $109 Half-Price NLH, which was a special edition of the Sunday flagship event of BetMGM MI. With the price tag sliced in half and a guarantee of $35,000 instead of $40,000, it attracted 298 entries and came up short by $5,200.
The action picked up in the following days and Event #3: $20K GTD 8-Max NLH on May 17 brought in a field of 107 entries to surpass the $20,000 guarantee. Just one day later, an overlay of $2,600 emerged in Event #4: $20K GTD 6-Max NLH. The remaining two completed tournaments missed covering the guarantee by just three entries each.
|May 21||#7: $25K GTD 8-Max Progressive KO||$215|
|May 22||#8: $25K GTD 6-Max NLH||$215|
|May 23||#9: $10K GTD Mini Championship NLH||$20|
|May 23||#10: $100K GTD 8-Max NLH||$1060|
Another four tournaments remain and Michiganders may very well get additional value ahead of the final weekend. Event #7: $25K GTD 8-Max Progressive KO on May 21 and Event #8: $25K GTD 6-Max NLH on May 22 feature the same guarantee and a price tag of $215.
The festival concludes with two events on Sunday, May 23. This includes the bargain event of the series as Event #9: $10K GTD Mini Championship NLH offers $10,000 in prize money for a buy-in of just $20.
At the same time, the flagship Event #10: $100K GTD 8-Max NLH features the only four-digit price tag of $1,060 and a massive guarantee of $100,000.
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BetMGM Poker Expands Online Poker Presence in the US
As previously mentioned, BetMGM Poker MI launched on March 22 and is the only active competitor for PokerStars Michigan. PokerStars MI enjoyed a de facto monopoly until then and even initially surpassed PokerStars PA in cash game traffic to become the largest site in the regulated US online poker market.
It was the second state in which BetMGM offered online poker and has gathered fewer than 100 active cash game players so far. However, in terms of tournament traffic, it has certainly given all Michiganders another option to pick from with notable guarantees on the weekends.
BetMGM Poker PA has since also launched in Pennsylvania alongside sister site Borgata Poker PA and went fully live on April 29, 2021. They were once more the first one to rival PokerStars PA in the jurisdiction and continued the push into further regulated markets.
No online poker series has been announced yet by BetMGM in the Keystone State. The brands share traffic and were off to a slow start with a fraction of the active cash game players as PokerStars PA.