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Originally Posted by NTamm1215
You thought seats were expensive? The Breeders' Cup will host its inaugural 10k handicapping tournament which will offer 6 seats to the NHC.
http://drf.com/news/article/105492.html
I'm collecting donations now to go and will happily represent DT.
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This is a pretty good deal, IMO, especially if you have handicapping skills and understand tournament strategy. (I mean the tournament itself is a good deal, not necessarily backing NTamm!)
They are giving out $15,000 more prize money than the entry fees. (The effective entry fee is $2500. Total entry fee collected is 100 * $2500 = $250,000. Total prize money is $265,000.). This is $150/person for the BC tournament.
Every entrant gets 2 days of tickets to the BC plus free food and drink. How much you value this is a matter of judgement.
The top 6 finishers get a free entry into the January National Handicapping Tournament in Las Vegas. With prize money of $500K and 227 entrants, that tournament appears to offer equity of $2200/entrant, plus they are giving $1000 for travel to Las Vegas. Since 6 spots will come from the BC tournament, that adds $19,200 to the equity of the BC tournament. That's $192/person in additional equity.
So, there is something like $342/person of equity in the tournament, plus the value of 2 days of free BC admissions and free food and drink.
Tournament skill will be more important than handicapping skill in this kind of tournament. You would need to make bets that would put you among the leaders rather than bets you think have the biggest % edge. You would want to know what kind of final bankroll is typically necessary to finish in the top few of a tournament like this, and that would be your target. Even if you are a winning capper, you will probably have to make some negative EV bets to achieve the goal. But the equity should cover much or all of the cost.
If you are a better than average tournament player (and have some capping skill, too) then this is a reasonably attractive tournament, especially if you were considering attending (and betting) the BC anyway.
--Dunbar