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U.S. dollar drop may affect tourney attendance

January 27, 2008

It’s often true that day-to-day happenings in the outside world have little or no effect on the culture of poker. Anyone who’s spent time with the game can tell you that it seems to exist in its own little corner of the universe, where, even if bombs are dropping outside, there’s always another hand to be dealt as long as two people are seated at the table.

For the top echelon of players – those with sponsorship deals or vast personal wealth – even a worldwide economic downturn would probably not make much difference. But for the remaining millions of poker players, especially those who mainly play major land-based tournaments, economic woes (or good fortunes) can make a difference.

Case in point: the sinking value of the United States dollar. Since 2002, the U.S. dollar has declined steadily against the world’s other major currencies, dropping as much of 40% of its value in that six-year period.

That might not have been a big deal to even casual poker players a few years ago, when most of the world’s major tournaments took place in North America, but today currency shifts have an impact on an expanding international tournament calendar.

I recently spoke with Tom Schneider, 2007 WSOP Player of the Year, about the business of finance and poker.

Europe: High stakes, higher expenses

While tournament poker has been around in Europe for quite some time, it has only recently started doing big business. There are now 10 events in Europe with buy-ins equal to or high than $10,000, and the tournament fields have grown to the point where they are comparable to major U.S. tourneys. Last season’s EPT Grand Final drew a whopping 706 entries at €10,000 a pop.

U.S. dollar drop may affect tourney attendance

Schneider with his mind on the money and money on his mind.

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