It was Event #1 of the Borgata’s “Winter Poker Open” – a $2 million Guarantee NL HE tourney. Day 1a took place on January 14. By the 17th, the 4814 player field was down to the final 27. Play never resumed after counterfeit chips were discovered to be in play. Nor will it.
Now, 3 months later we have the conclusion – a 27-way reduced chop at $19,323 each. That prize distribution amounts to about $522 thousand from the $1.43 million that had been frozen (including the original first place amount of $372,123). The reduced chop is more than 10th place money (just under $18K) but less than the $26,747 that would’ve gone to a 9th place finisher. And, less than the nearly $53K each player would’ve received with a full prize pool remaining.
So, what happened to the rest of the money? Well, the New Jersey Division of Gaming Enforcement (DGE) issued their final ruling. Those that cashed keep their winnings or are allowed to collect their winnings if they hadn’t done so (450th place thru 28th). That doesn’t impact anything. But, the DGE determined that 2143 of the non-cashing players “may have been impacted by the counterfeit chips”. Those players all get their $560 buy-in back. Those funds come out of the remaining prize pool.
The Borgata is augmenting the prize pool/payouts by putting back all the rake ($60 per player for the entire field – amounting to about $288K) but, after reimbursing the impacted non-cashing players the 27 remaining players are justifiably left feeling shortchanged.