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Thread: $459 Interest on $21m

  1. #1
    Tim's Avatar
    Tim
    Tim is offline quintessential chopbuster
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    Default $459 Interest on $21m

    The November Niners will be delighted to know that an extra $459 has been added to the prize pool for the main event. This is the interest accrued since the 20th July... on over $21 million. Yes, you read that right.... $459 interest from sitting on $21 million for 3.5 months.

    Taken from the official WSOP press release:

    UPDATED PAYOUTS

    On July 19, 2010 the nine remaining players each were paid ninth place prize money ($811,823) from the initial $29,032,637 that was slotted for the first nine places in the tournament. The remaining amount ($21,726,230) for spots 1-8 were placed into Goldman Sachs fund FTIXX on July 20, 2010. The fundís objective seeks to maximize current income to the extent consistent with the preservation of capital and the maintenance of liquidity. That $21,726,230 accrued $459 in interest, which when added to the prize pool will pay out the following:

    1st Place $8,944,310
    2nd Place $5,545,955
    3rd Place $4,130,049
    4th Place $3,092,545
    5th Place $2,332,992
    6th Place $1,772,959
    7th Place $1,356,720
    8th Place $1,045,743
    Total $28,221,273
    • Note $7,306,407 was paid out already (9 places x $811,823)
    • Updated Total Prize Pool for this Final Table = $29,033,096
    • Updated Total Prize Pool for 2010 WSOP Main Event = $68,799,059

  2. #2
    TIME's Avatar
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    That's why I keep my $21 million in play at all times. Who needs an extra $459?
    To the true gambler, money is never an end in itself, but simply a tool; as language is to thought.

  3. #3
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    That`s just ridiculous. How on earth can they justify that?
    Illegitimi non carborundum

  4. #4
    RyckyRych's Avatar
    RyckyRych is offline Retired Micro Grinder
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    So that's what, like .008% ROI? Goldman Sachs ftmfw.

    At least it didn't lose money...
    I do a new thing now. Hidden Content

  5. #5
    Tim's Avatar
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    Quote Originally Posted by TIME View Post
    That's why I keep my $21 million in play at all times. Who needs an extra $459?
    Really? See you at the Flamingo tomorrow then!

    Quote Originally Posted by DangerMouse View Post
    That`s just ridiculous. How on earth can they justify that?
    It's insane. They shouldn't have even bothered adding anything if that's all they can muster up. Although I guess it could be worse... they could have got the Lehman Brothers Bank to look after it.

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