For the second year in a row, Doug Polk and his co-owners have incurred a hefty six-figure overlay in their Championship event.
Doug Polk’s bad week got worse over the weekend. Just after his bid to open a second card room in Texas was denied, his current card room incurred a $417k overlay.
Word began to go around early that the $2 million guaranteed Lodge Championship Series Main Event was projected to incur a $500,000 overlay. The tournament had a $3,000 entry fee.
Despite this, kudos to Polk, alongside co-owners Andrew Neeme and Brad Owen, who did not add any additional day 1s, like a lot of poker rooms do. In the end around 509 entries were collected, meaning an overlay of $417,000 was incurred.
Ended up overlaying 417k in our main event. Congrats to all the players getting the free value.
We made some scheduling errors and dealt with some logistical nightmares.
Tough week, but as always, we learn and get stronger. We will continue pushing Texas poker forward.
— Doug Polk (@DougPolkVids) May 12, 2024
Several reasons have been cited for the overlay, which bucks the current global trend for live poker rooms hosting record events. The biggest cause was that the event was scheduled during Mother’s Day in the US.
This is the second time in as many years that this particular event has overlaid. Last year it incurred an overlay of $334,100. Clearly, the marketing hype generated by that overlay did not spill over into the event this year.
The tournament continues until Tuesday and the winner can expect a first prize of $438,000.
What was the biggest overlay you have been part of? Let us know in the comments: