2007 Home Poker Tournament Fundraiser (with changes)
Monday, January 29th, 2007Those that read the site last year know that I have been holding a monthly home poker tournament as a fundraiser to support my Livestrong Challenge rides.
The post detailing the tournament setup is here:
http://www.lafrider.com/index.php/home-poker-tournament-fundraiser/
I made modifications after a few tournaments here:
http://www.lafrider.com/index.php/modifications-to-the-home-poker-tournament/
These tournaments raised over $1000 last year for my ride and were the most successful fundraiser of all I attempted. This year Ive started the tournaments again and made a few changes per suggestions from players last year.
- Rebuys are now allowed. For those that dont know a rebuy is when you are allowed to buy back into the tournament if you lose all your chips before a specified time limit. In the case of the Home Poker Tournament I am allowing rebuys until the first break when chips are colored up or if they fall below $500 in chips. This means that for the first 6 rounds of the tournament if someone goes out or drops under $500 they can rebuy for $20 and get 2500 more in chips. This months tournament was the first time we’ve done this and resulted in three rebuys which increased the pot $60 and garnered more money in support of my Livestrong Challenge ride.
- Each rebuy results in another person being counted as playing in the tournament. For example, if there are nine players as there were this month and three rebuys you will divide the winnings as if there were 12 players in the payout scale (see prior posts above for payout structure). This is done because since the pot increases and the players investment increases then the payouts should also increase. If this were not done then people who did a rebuy would actually be losing money even if they placed in the payouts but did not win, though this still may occur based on the amount of times a player rebuys.
- The second change is I am now giving an attendance bonus of $25 in chips for the final tournament. This means that those that play each month are gaining chips over those that only play in the final tournament. This also allows players to earn extra chips for the finale tournament even if they do not place in the top three and garner points. For an explanation of the points system see the earlier posts above.
I think these changes are positive and the players seem to enjoy them. It results in more action for the betting as well as, and most importantly, more funds raised for the Lance Armstrong Foundation.
This months tournament had 9 players and raised $90 for my Livestrong Challenge ride and then made another $90 when my friend graciously donated his winnings by coming in first place to the LAF. This means that in one night there was $180 raised. This is another great thing about the tournament, several times players who have won have donated their winnings to the LAF unexpectedly. You will find that people will randomly go above and beyond the fundrasing you are expecting by hosting the tournament just due to their goodwill and appreciation for what you are doing and the fun they have had.
Im looking forward to the year ahead and this fundraiser that has turned into almost a tradition of good friends having a good time in the name of the Livestrong Challenge.








