2009 Golf Tournament To Host $200,000 Buy-In Event

You're reading 2009 Golf Tournament To Host $200,000 Buy-In Event, posted on Friday, May 16th, 2008 at 4:12 pm in Events, News, on BrainBloggers at the Golf Tips blog. More after the jump.

Next year the World Series of Golf will be in Las Vegas and it is going to cost $200,000 just to enter. The payout for the winner is $1.5 million. Amazed? So were we. We though it would be hard to find 25 people to pay up that kind of money just for an entry fee – but the organizers of the event are more confident.

They said that all they need to do is find 25 golf players who are good and who think it is worth spending the money on. The other five or more slots will be given away for free. This means that they will randomly pull names from a list of over 125 players who are already expected to put in a buy in of $10,000 in the World Series of Golf tournament a week before.

Players are not eligible if they have competed as a professional in two or more events on any professional tour, or earned more than $50,000 in their career in golf competitions. Members of any globally recognized professional golf associations, PGA of America members for example, also are barred.

Rules for the tournament, first played last year, are loosely based on poker, with players betting on their strokes with poker chips. Players can go all-in after their tee shot, or fold and move on to the next hole if they hit a lousy shot. The player with the fewest strokes each hole wins the pot for that hole. Automatic bets, or antes, increase every three holes, driving up betting and the pots.

“I had an all-in on the ninth hole today and I turned to my caddie and I said, ‘My hands have never shaked like this before,'” said Stuart Tidd, 40, who was eliminated Wednesday after a bad bounce on the 17th hole at the Las Vegas Paiute Golf Resort.

The manufacturing representative from Toronto said he planned to raise enough money with friends from his golf club back home to buy into next year’s more expensive tournament. He estimated spending $20,000 to $30,000 of his own money to enter. “I’m experienced, right? If they only knew how quivering I was over a couple times,” Tidd said.

The 9-handicapper said he’s always played for money with friends from his golf club in Canada, but said the television cameras and atmosphere is more exciting than simply risking big money against a few buddies.

The tournament will air in June on CBS.