Well, I think that most players don't look at it as an investment, but as an experience.
Are big money chess tournaments a bad investment?
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Jun 14, 2010
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#3
IWILLMAKEYOUPAY wrote:
Well, I think that most players don't look at it as an investment, but as an experience.
agreed
What do you mean by experience? You can play serious games of rated chess for much less money. If they are going to charge that kind of dough, I would like to see a fairer distribution of prize money.
Jun 14, 2010
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#5
I think the experience of going to those big chess tournaments, where you can play skittles with masters, watch grandmasters play, and be in that atmosphere. If you have 2-3 hundred dollars to blow, why not blow it on that experience?
The National Open and Continental Chess tournaments such as the World Open are run by businesses to make money. Prize funds are an expense and a lure to gain players. While gambling and large prize fund chess are different - the house or the organizer comes out ahead. All of those beautiful casinos in Las Vegas were built based on the past and future anticipated the losses of gamblers.
Just as on gambling consider if the expenses hotel, meals, airfare, taxes, entry fee are worth the experience. Winning money should be considered a bonus not a requirement.
Jul 7, 2011
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#7
While I do understand that it is a business to make money, I will use the analogy of a no limit hold em poker tournament.
There are fees involved to enter, and there is a posted projected prize fund (based on entrants). The "top" players are granted free buy ins for the large events, similar to the GMs in chess. While there are large buy in (entry fees) and small buy in tournaments in poker, the payouts are determined as a percentage and the amount of positions paid are based on the number of entrants, the more entrants the more positions paid.
The fees (or compensation to the house) are typically a percentage taken out of the buy in, or in some cases there is a separate registration fee involved. So a 100 buy in tournament may be 80+ R20 where the 80 goes to the prize fund and the 20 would go to the house (or tournament organizer).
I am curious if the large tournaments have ever considered this type of format of fees and payouts.
As both a poker player and a chess player, I can appreciate the "experience" of a large money buy in tournament and the players you may meet and have the opportunity to play against. However, I would be more apt to spend that same amount of money playing in a poker event than a chess event where I know the return on my investment if victorious is much richer.
Cheers
Lou
Jul 7, 2011
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#8
It's a very modest payment for experiencing the atmosphere of playing next to the top guys (or even against them, if you are lucky).
Playing a game near a couple 2500s isn't worth snot. Or 2600s, etc.
You gotta be a bedazzled fanboy to think paying a couple hundred dollar premium for such an opportunity is worthwhile.
I suppose that if you have the money to spend, it would be a fun experience. 
Me? I won't go to any tourneys with an EF higher than $50. Of course, that's mostly because I can't go to any tourneys with an EF higher than $50... :S
...if you like chess...and want the chance to play next to or against a "world player"...in a great atmosphere like Vegas...then $200-500 is nothing in order to get that "experience"...and a lot of people do feel it worthwhile (not just the beautiful pro Natalia Pogonina)...because they are already doing so...
...and no, this is not classified as an "Investment"...you know beforehand that your chances of making a return on your "investment" is very small to nil...but you do it anyway...this is more akin to going to Vegas to gamble with the intentions on making money...so many fools...
gbidari wrote:
What do you mean by experience? You can play serious games of rated chess for much less money. If they are going to charge that kind of dough, I would like to see a fairer distribution of prize money.
This thread had an opposite argument, saying that more US tournaments should be like that to encourage improvement.
Jul 7, 2011
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#13
Also, I think it is relevant to mention that if you want to experience the tournament and you want to observe and be near top players, there is no fee to spectate. I played some large team events with GMs and when I sat out a round I was able to go and watch the top boards play...without the lofty fees.
If you are entering a tournament with no hope of return on your investment, then what is the point.
The fees are ridiculously high, for nearly every event out there. When I ran my club in Rhode Island, we had 70 members, our tourneys were paid out 100 percent, less the rating fees due to the USCF.
Jul 7, 2011
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#14
trysts wrote:
I think the experience of going to those big chess tournaments, where you can play skittles with masters, watch grandmasters play, and be in that atmosphere. If you have 2-3 hundred dollars to blow, why not blow it on that experience?
Exactly. A couple of my players played in a couple of "Money" tournaments this year (2010/2011 school year). These include the Florida Class Championships, Southern Open and the Sunshine Open (and others). Each tournament had sections where they could play against their own skill level. The registration fees ranged from 35.00 (Sunshine) to 55.00 (FCC). Even if they didn't place for the money, the experiences will always be remembered. This included a hyperventilating win with one second left on the clock (1st RD G/60) by DC. As he exited the playing hall we had to walk him around the hotel to calm him down. At the Sunshine Open two of my players actually did win money as both finished with 4-1 records tied for second. Each took home 105.00 for their effort and helped buy dinner for coach. :) All in all... some really great chess experiences.
I have always enjoyed the Continental Chess Association tournaments. The most I've ever won was about three hundred dollars, but the weekends were great chess vacations and a chance to meet chess lovers from all over. It is nice to watch and sometimes get a chance to chat with the players I read about in Chess Life.
WalkItDown wrote:
Natalia_Pogonina wrote:
It's a very modest payment for experiencing the atmosphere of playing next to the top guys (or even against them, if you are lucky).
Says a pro who doesn't have to pay anything.
If I had the money, and a job, I would be willing to go to a tournament in Las Vegas if it meant I would get a FIDE rating and maybe a little experience against the better players. I might even try to get their games on paper (especially the positional players games).
...it's basic "demand and supply"...currently these "high priced" tourneys don't need to even consider lowering the "investment" amount, since they are overbooked anyway...when the time comes when supply is greater than demand then that will be the market's signal to lower the price...it's all about "the green back"...
Jul 8, 2011
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#18
WalkItDown wrote:
Natalia_Pogonina wrote:
It's a very modest payment for experiencing the atmosphere of playing next to the top guys (or even against them, if you are lucky).
Says a pro who doesn't have to pay anything.
I have invested 20 years of my life to get to this level.
Jul 8, 2011
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#19
Variety is the spice of life. It seems to me that there is plenty of room for big prize fund, high entry fee tournaments as well as low entry fee tournaments.
There are expensive restaurants, there are cheap restaurants, there is home cooking, it's all food, but sometimes the fancy stuff is nice.
jhbchess wrote:
Variety is the spice of life. It seems to me that there is plenty of room for big prize fund, high entry fee tournaments as well as low entry fee tournaments.
There are expensive restaurants, there are cheap restaurants, there is home cooking, it's all food, but sometimes the fancy stuff is nice.
I cant stand fancy/expensive restaurants ... they always give me too many glasses and forks and such...
The National Open in Las Vegas recently ended, and as usual 99% of the players donated their large entry fee to the GM's who get in free and to the people who finished in the top 1%. I'm wondering what's the use of forking over huge entry fees in major chess opens (typically about $200-$300) if your chances of getting money back are statistically very slim.