Seems to me, you should go for it. With the $2500 entry fee returned to you
in slot play and you play there sometime anyway, It does appear you have
nothing to lose and a lot to gain. But what do I know. 
Jim Wade
In a message dated 1/31/2009 3:32:56 P.M. Pacific Standard Time,
mikeymic@yahoo.com writes:
I recently received an offer from the Venetian and request your
assistance in evaluating it.
First, some background. I am at mid-upper Gold level, which is
equivalent to a solid Diamond but not quite Seven Stars player for
those of you more familiar with Harrahs' system.
I might have aspired to reach the highest level at Venetian. But,
last year there was simply too much downgrading and erratic
availability of 9/6 Jacks and other desirable games.
So, I stopped playing there.
A variety of offers came my way in the ensuing months. And, as I
clearly stated here in various posts, I had no intention of
considering any of them. I also strongly recommended that other
players think twice about booking stays where once you arrive there
may be absolutely nothing playable.
So, why am I even considering a stay at the Venetian now?
Here's the deal:
First, the bad news. There's an entry fee. This is yet another
consideration that I never seriously considered until now.
The $2500 entry fee buys you a spot in the event where only 50
entrants are participating. You get one entry for showing up and
bonus entries based on play. Typical slot tourney stuff.
The prize structure is as follows:
1st Place: $150K
2nd Place: $ 50K
3rd Place: $ 25K
4th Place: $ 15K
5th Place: $ 10K
6th-25th Place: $5K in slot credits.
So, based on this prize pool, there is a 50% chance of winning at
least double the entry fee in slot credits, or much more in cash (if
you make the top 5, wich is a 1 in 10 chance).
Regardless of whether you feel the 1 in 2 chance is worth $2500 up
front the Venetian has added one other "sweetener" to complicate
matters:
You get $2500 in slot credits for attending the event. So, the first
$2500 of your bankroll that you used for the entry fee is given right
back as slot credits when you arrive.
So, based on these parameters, do you book this event?
Thanks,
Mikey
P.S. I've received information that Venetian "overbooks" these events
by up to 20% which makes your chances of winning worse. To be safe,
assume 60 participants instead of 50 with the same prize structure.
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