Gamble To Give Back
A high stakes poker or blackjack tournament is quickly becoming one of the largest new crazes in charity events; celebrities line up in droves to play for their favorite cause and to enjoy a charming night in the spotlight as well. Deep down, all of us want to believe that we can become a poker legend if we were only given the chance, which is why charity gambling has such widespread appeal. Maybe you’re thinking about holding your own charity event or maybe you just want to play on behalf of a great cause- here’s how you do it in detail below. Of course, you’re always welcome to bypass the complexities of holding an event, and just donate your earnings collected from popular sportsbooks. eChecks make it easy to cash out at places BetEd, so you don’t have any obstacles preventing you from sharing the wealth anymore.
Organizing a Charity Gambling Tournament
To host a charity gambling tournament, you basically have two distinct formats to choose from in order to raise money. The first would require a large buy-in from the potential players; your final prize money would be the sum of the antes minus any operating costs you incur (renting space for the event, catering, live entertainment, etc). Different regions have vastly different laws on what is considered standard operating costs, so definitely check to see if you need permission beforehand.
The second format worth considering is seeking corporate sponsors to fund the event. If you decide to go this route, 100% of the funds that are collected would be used for various charities; the operational costs would come strictly by donation, as would any prizes that you plan to give away. This format has become very popular in recent years since it gives excellent media attention towards the sponsors of the tournament.
Another idea that is growing in popularity is having a charity gambling tournament for a single organization. All of the entrants would be playing for cash and prizes just like a regular event, with the only exception being that there would be far less payouts overall. In these types of charity gambling functions, 50-60% of the total prize pool normally goes to the pre-decided charitable organization.
Playing in a Charity Gambling Tournament
Even though most celebrity gambling tournaments would seem like they would be difficult to get an invite to, professional gamblers usually have very little trouble getting a formal invitation. That’s because there are hundreds of sponsors out there jockeying for qualified entrants to represent their brand name; it may be charity gambling but there is also a lot of pride at stake.
If you wish to enter a charity gambling tourney, the easiest way is to contact some organizations for sponsorship. Let them know that you’re not looking to enter for any other reason than helping out a good cause, and if you have a particular organization that you believe in then make that known up-front. Many companies will jump at the chance for free publicity in exchange for the entry fee to get you at the tables.
If the sponsorship route is not your style, many charity gambling events will also let you purchase your own entry on behalf of a charity, much like how you would in regular tournaments. It may end up costing you $5,000-$25,000 to get in the door, but your money will be going to a good cause regardless of who wins and you’ll also be putting yourself in some pretty elite company during the event. A win in these types of tournaments is often all that’s needed to kick-start a serious career at the tables, so it really is a win-win for everyone.
