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Party Poker High Flier Jet Promotion

Promotions, 2006-01-15, by TwoGun

Party Poker is holding a unique $250+$20 buy-in tournament at 4:30 EST this Sunday. The first place prize in the tournament is 25 hours of flight time on a private jet for the winner and up to six of their friends. The jet is available to fly from over 5,500 airports worldwide. The jet prize is valued at $125,000. If the winner wishes, they may take cash instead of the jet time. However, the cash trade-in value of the private jet use is only $90,000.

Second place through fifth place are also being awarded non-cash prizes in the form of various Mercedes-Benz vehicles. However, these players may also choose the cash option, which results in losing some value of their prize. For example, the third place prize is a Mercedes ML500 that is valued at $75,000; however if this winner chooses cash, they will only receive $55,000.

This tournament is being billed as a $600,000 Guaranteed Tournament. The tournament only holds this much value if first through fifth choose the luxurious prizes rather than the cash. If all of these players choose the cash instead of the exotic prize, the tournament is really only valued at $482,000. Party Poker guarantees that the 6th through 220th place finishers will win cash prizes.

The tournament is limited to the first 2,400 entrants. However, with 18 hours to go before the start of the tournament, only 610 players have registered. This means there is the potential for an overlay in this tournament. If we assume that the top finishers will choose the cash prizes, the tournament will need to draw at least 1,928 entrants in order for there not to be an overlay.

It is important to realize that the value of the tournament may vary anywhere between $482k and $600k depending on how many of the top five finishers choose to keep the luxurious prizes. This means the "magic number" for entrants to cause an overlay will also vary. An overlay is guaranteed if less than 1,928 players participate in this tournament.

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