A Keep It or Cash It event consists of multiple starting days and offers players the choice of Keep It or Cash It if they make day two multiple times. Each day is played down to 10% of the field, and everyone who survives day one is in the money.
The Keep It or Cash It decision happens at the end of the day when a player makes day two after having made day two in an earlier starting flight. That player has the opportunity to surrender their current stack to get their $400 buy-in back plus $0.01 per chip in the stack they are surrendering, or they can combine their stacks to take more chips into day two.
MSPT Main Event structure with 30 minute blind levels will be used for starting flights. The end time of the earliest starting flight will be used for the start of day two, and levels on day two will be 45 minutes long.
After a player has moved on to day two, each successful attempt to make day two following will trigger the Keep It or Cash It decision. The player must decide then and there, on a one minute clock, whether they will Keep It or Cash It. If they choose to Cash It, they will surrender their current stack and be paid out according to the Cash It payout structure for that tournament. If they choose to Keep It, the stack will be added to their total for day two. A player will not have the option to surrender their first stack, so each player who survives a starting flight at least once will be playing on day two.
A prize pool guarantee will be attached to Keep It or Cash It events. This guarantee will include money paid out when players choose the Cash It option. The total prize pool will include Cash It buybacks, the 3% removed for dealers, and any monies removed for MSPT prize packages.
The Mid-States Poker Tour owns www.keepitorcashit.com and the site will be used to promote Keep It or Cash It events. The Keep It or Cash It name is copyright Mid-States Poker Tour. The Keep It or Cash It concept is patent pending. Contact Bryan@msptpoker.com for information or to schedule an event at your venue.
Main Event Buy-in: $400+$50+$10 (Unlimited re-entries through Level 8)
Multi-Table Qualifiers: $90+$10+$10 (Unlimited re-entries through Level 8)
Main Event Guaranteed Prize Pool = $150,000
**Any “Cash It” payouts for players who reach Day 2 multiple times comes out of the Prize Pool
Awards:
1) Overall chip leader to START Day 2 gets $5,000 Prize
2) Players who reach Day 2 Five times receive $10,000 Prize
3) Players who reach Day 2 Six times receive $20,000 Prize
4) Players who reach Day 2 Seven times receive $50,000 Prize
5) Players who reach Day 2 Eight times receive $100,000 Prize