Inaugural Meeting Of The Vegas Or Bust Poker League

Six players of the newly formed Vegas Or Bust Poker League met on December 2nd at Pete's home. Present were Bobby, Chris, George, Larry H, Ollie, and Pete. The reason for the meeting was to discuss and implement some basic guidelines for our new league. Below is the list of the guidelines that will be followed.

1) Tournaments will be held the second Friday of each month and will begin at 7pm.

2) Tournaments will take place at Pat and Jana's home, on Landmark Drive in Waco

3) Beginning chip stacks will be $1500T

4) Blind levels will last 15 minutes. Blind levels are $10-20, 15-30, 20-40, 30-60, 40-80, 50-100, 75-150, 100-200, 150-300, 200-400, 300-600, 500-1000 (capped). This should make each tournament last 3-3 1/2 hours.

5) Point System. 1st-10 points, 2nd-9 pts, 3rd-8 pts, 4th-7 pts, 5th-6 pts, 6th-5 pts, 7th-4 pts, 8th-3 pts, 9th-2 pts, 10th- 1 pt.

6) If a player misses a tournament, he or she is still responsible for the entry fee for that month. The player will not be awarded any points for the missed tournament.

7) Players can be late for a tourney. However, late players must be seated at the tournament table before the third blind level ($20-40) ends or the players will not be able to join the tournament.

8) Each player's lowest two tournament scores will be dropped from his or her total at the end of the league. This allows each player to miss up to two tournaments without penalty.

9) If a player is forced to withdrawl from the league due to health issues, a replacement player will be picked by the remaining league players. If a suitable replacement cannot be located, the remaining players will increase their monthly buy-in to cover the difference. This is to keep the prize pool at $4,800.

10) The league will last 16 months, beginning in January 2012 and ending in April 2013.

11) Entry fee is $30 per tournament per player.

12) First and second place will both receive $2,400. Both players will be REQUIRED to enter one tournament at the 2013 World Series of Poker in Las Vegas. The prize money should cover round trip airfare, hotel, and entry fee. Player is responsible for any additional costs.

13) If either or both winning players cash in the WSOP Tournament they have entered, 50% of the prize money in the WSOP Tournament (after taxes) will go to the winning player and 50% will be divided between the remaining eight league players that did not win a prize in league play.

14) Pete will be responsible for the league's prize money.

15) Players will have an option to participate in a $2 last longer side pot bet at each tournament. Players are NOT required to participate in the last longer pot.

16) There will be a $2 buy in cash game for players that have been eliminated from the tournament. The cash game will be exclusively NLHE and players may re-buy for $2 as many times as desired. Participation in the cash game IS NOT required.

17) If there is a tie between 2nd and 3rd place, the players have two options to settle the tie. The players can split the prize ($1200 each) or play a heads up tournament to determine a winner. If players divide the prize, both players are still REQUIRED to enter a tournament in the 2013 WSOP in Las Vegas and will be responsible for their own transportation, hotel and food. If a heads up tournament is played, the blind levels and times will be the same as the full ring league tournaments.