ONE DROP Champion to Win $20 Million - Not So Fast
Congratulations to future the 2014 Big One for ONE DROP champion. On paper, you will take home $20 million in prize.
How much will that champion take home in reality? Good question.
Greg Merson recently spoke on the realities of many pros playing in the ONE DROP event. He believes that most pros will have anywhere from 5% to 15% of their own action in the event, and that 15% is on the high end.
Phil Hellmuth is currently raising funds and will be playing for just 10%.
What does this mean in terms of a player's bottom line? Let's do some fuzzy math.
Let's assume that a player loses 40% of their earning to the IRS. (Assuming an American pro wins the title.) $8 Million - poof.
We are now left with $12 million to split among backers. For those of you new to staking, the money going to backers is post-taxes, or at least it should be. You're looking at $10.8 million going to backers, assuming the player has 10% action.
This leaves the pro playing in the one drop emerging from the event with $1.2 million and the Platinum bracelet.
While $1.2 million is nothing to sneeze it, that is a far cry from $20 million.
Should a pro take down the ONE DROP, they become a paper "All-Time Money Leader."
For many of the pros, this is truly one of those events where the bracelet and the exposure from TV means more than the money.