Delaware Valley Poker Club

The Delaware Valley Poker Club (DVPC) is a friendly group of poker players who wish to compete against each other in low-stakes poker tournaments online and in-person. Participants will each contribute $125 to a "Jackpot Challenge" which will be rewarded to the best-performing DVPC player after a series of tournament opportunities. That winning player will use that jackpot to buy into a large-stakes poker tournament, and the winnings (if any) will be distributed on a pro-rated basis back to the entire Club membership.

Members

Guys, give yourselves a round of applause, because we have nine gentlemen committed (so far) to make this happen:

1. Gregory Kohs (West Chester, PA)
2. Trent Van Doren (Lebanon, NJ)
3. Bob Zetusky (Newark, DE)
4. Christian Van Doren (Lebanon-area, NJ)
5. Mike Gargano (Philadelphia, PA)
6. Sean Scalley (Blue Bell, PA)
7. Al Gallo (Hockessin, DE)
8. Bill Helms (Wilmington, DE)
9. Jason Gallagher (Lebanon-area, NJ)

We extend an open invitation to any poker-loving friends who may want to climb on.

New Year 2008 Series

Each participant will choose cafeteria-style from:

• Three (3) out of six (6) scheduled online tournament options, which would include:

Weeknight options

• A - a 180-seat sit-n-go ($4.40), Wednesday January 9, 2008; Seat yourself in the first NEW 180-seat $4.40 tournament that opens for sign-up AFTER 7:30 PM. Estimated completion for 1st place: 11:30 PM.
• B - a 180-seat turbo sit-n-go ($12), Monday January 14, 2008; Seat yourself in the first NEW 180-seat $12 turbo tournament that opens for sign-up AFTER 8:00 PM. Estimated completion for 1st place: 10:30 PM.
• C - a 1,000+-seat scheduled tourney ($1.10), Thursday February 21, 2008; Register in advance for the $1.10 multi-table no-limit scheduled tournament going off at 6:00 PM. Estimated completion for 1st place: 12 Midnight.

Weekend options

• D - an evening 180-seat turbo sit-n-go ($12), Sunday January 13, 2008; Seat yourself in the first NEW 180-seat $12 turbo tournament that opens for sign-up AFTER 7:00 PM. Estimated completion for 1st place: 9:30 PM.
• E - a morning 180-seat sit-n-go ($4.40), Saturday February 2, 2008; Seat yourself in the first NEW 180-seat $4.40 tournament that opens for sign-up AFTER 7:30 AM. Estimated completion for 1st place: 11:30 AM.
• F - a Sunday 3:30 PM 15,000+ seat $100,000 guaranteed prize pool tournament ($11), Sunday February 10, 2008. Register in advance. Estimated completion for 1st place: 11:30 PM.

Each participant will also choose cafeteria-style from:

• Two (2) out of four (4) scheduled in-person tournament options, which would include:

• G - An in-home tournament, at the Kohs home in West Chester, Thursday January 17, 2008. $30 buy-in. Estimated time: 7:30 - 11:00 PM.

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• H - The Cabin Fever 2008 Tournament in Bushkill Falls (West "Minks Pond"), PA, Saturday February 16, 2008 (Presidents Day weekend). Estimated time: 7:30 - 11:00 PM.

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• I - A tournament in Atlantic City, NJ, at the Showboat casino, Tuesday March 5, 2008. $53 buy-in + $12 fee. Estimated time: 7:00 - 11:30 PM.

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• J - An in-home tournament, at the Scalley home in Blue Bell, Sunday March 16, 2008. $25 buy-in, with unlimited $25 re-buys for first hour. Estimated time: 4:30 - 8:30 PM.

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We have planned for a mix-and-match of days and times, so that nobody will have trouble fulfilling the five (5) Series entries. Please mention if more than one of these dates are impossible for you. There is a surge of activity between January 9 and 17, with four tournaments in that short span. The hope is that every player will knock out at least one of their required sessions in that span, putting everybody into a competitive mood, right off the bat.

Of course, anyone is welcome and encouraged to participate in more than just the mandatory minimum; the "extra entries" simply won't count toward the Jackpot Challenge. Just to make clear, there is no single tournament where all of us are required to be present. We will pick and choose. Some tourneys, maybe all of us will be there. Other tourneys might only see one or two of us present. The Series will run from January through March 16, 2008. That will leave the rest of Springtime for our Jackpot Challenge winner to go make a fortune at a big tourney.

Costs

Those on a tighter budget will be able to fulfill this Series with less than $200 out-of-pocket. Those who opt for the pricier selections will expend about $300. You keep what you win in each selected tournament, and everybody is contributing the same $125 to the Jackpot Challenge. The $125 may be paid in installments -- $50 in January, $50 in February, and $25 before March 16, 2008. These payments will be coordinated and saved by Gregory Kohs.

Players who do not currently have an online poker account will contact Gregory Kohs for more information on getting one started and funding it.

Communications

Club communications will be handled by e-mail.

During online tournaments, we have a teleconference "bridge" set up, which we are free to use (outside of office hours), for the equivalent of multi-way calling. This will allow for Club-related dialogue while the tournaments are underway. Players at the same table will be asked not to discuss their hole cards, just as would be standard etiquette in a live game.

Scoring

We will assess DVPC Series rankings using a formula similar to PokerStars' player points formula:
Points = 10 * [sqrt(n)/sqrt(k)] * [1+log(b+0.25)]
Where:
n is the number of entrants
k is the place of finish (k=1 for the first-place finisher, and so on)
b is the buy-in amount in dollars (excluding administrative fee).

Payout

Whatever money the Jackpot Challenge winner is able to win back in the high-stakes buy-in tournament, the process of declaring that income and taxation is that player's decision and responsibility. For tournament winnings up to two times (2x) the buy-in, the Jackpot player would be entitled to keep all of those winnings. The amount between two times and ten times buy-in (2x-10x) would be split 70/30 -- 70% to the Jackpot player, and the other 30% split evenly between all the other Series participants. Anything over ten times buy-in (10x+) would be split 50/50 -- 50% to the Jackpot player, and the other 50% split evenly between all the other Series participants.

This way, all DVPC participants stand a chance of making back original stakes (and then some), while the Jackpot winner will earn much more than any of the rest of us, even with taxation considered. Gentlemen, is this really any different than trusting your money with a mutual fund manager? I say not.