New Payout Structure Announced for 2024 WSOP
With the 55th edition of the World Series of Poker just a week from kickoff, the host of this iconic summer series announced new payouts for many of its tournaments.
Many of the changes affect minimum cash amounts that are now approximately double the buy-in. As for the Main Event, the final table payouts will be smoother, though that will only affect a small portion of the overall WSOP crowd. In all, the changes seem to be eliciting positive responses on social media, as some players have been asking for better min-cashes for years.
The WSOP listened. And the 2024 WSOP players – those who cash in tournaments – will benefit.
More for a Min-Cash
When a player makes the money, she or he is guaranteed a min-cash, a minimum payout that is often less than double their buy-in for that tournament. While any return is positive, players have long asked for double their buy-in back.
The World Series of Poker did adjust its payouts to make this happen for most of the tournaments at the 2024 WSOP. And for most events, the top end of the payouts will be flatter as well. Instead of massive pay jumps that can slow the action, the wealth is spread a little more evenly across the final table.
Payout Calculator
For years, the WSOP website has offered a payout calculator. It has been there to help players calculate the potential payouts for bracelet events and daily deepstack tournaments alike.
Of course, when registration for any tournament ends, the tournament staff work as quickly as possible to announce the official prize pool and payouts. However, the payout calculator can help players with estimates before that happens. More importantly, players can use the calculator to help determine potential payouts, staking arrangements, and ROI odds.
For example, the first $250 buy-in Daily Deepstack of 2023 brought in 261 entries. The winner received $11,616, and out of the 40 players paid, the min-cashers received $400 each. This year, the same tournament with the same number of entries would still pay out 40 players but give $500 as the min-cash and $10,961 as the first-place prize.
Let’s look at a few WSOP staples to exemplify the changes for 2024:
- $500 buy-in Casino Employees Event
- 2023: 1,015 entries / $75,535 for first, $12,802 for sixth, $801 min-cash
- 2024: same entries / $70,385 for first, $12,459 for sixth, $1,001 min-cash
- $1,500 Dealers Choice
- 2023: 456 entries / $131,879 for first, $18,428 for sixth, $2,411 min-cash
- 2024: same entries / $123,631 for first, $18,142 for sixth, $3,013 min-cash
- $300 Gladiators of Poker
- 2023: 23,088 entries / $499,852 for first, $95,890 for sixth, $480 min-cash
- 2024: 25,000 entries / $441,988 for first, $102,113 for sixth, $600 min-cash
In essence, more people will receive higher payouts, while the winner of most events will receive a bit less than in previous years.
Main Event Payouts
The big one – the WSOP Main Event – had been one of the most controversial tournaments with relation to payouts, especially at the final table. The pay jumps were so significant that it sparked many conversations about fairness. This year, the payouts at that final table will be smoother.
Let’s look at a close comparison for last year versus the upcoming WSOP Main Event Championship:
- $10K buy-in Main Event
- 2023: 10,043 entries / $12.1M for first, $1.85M for sixth, $900K for ninth, $15K min-cash
- 2024: 10,000 entries / $10M for first, $2M for sixth, $1M for ninth, $15K min-cash
As it turns out, the eye-popping number of the first-place prize is less important to most players than more fairness for final table player payouts.
