Pre-Proposal: First ever Brick and Mortar Crypto/Dash Poker Tournament

Would you vote to approve this proposal

  • Yes

    Votes: 6 85.7%
  • No

    Votes: 1 14.3%

  • Total voters
    7

Brian Sarchi

New Member
Dec 29, 2017
9
6
3
48
Product Description:

First ever Brick and Mortar Crypto/Dash Poker Tournament


(3-5min Video will be inserted here) Showing room, ATM and quick description


Summary:

We will use Dash as the base currency for the first ever crypto poker tournaments held at a brick & mortar poker room. Once per month for a three-month period, we would run a Dash only buy-in and prize pool Texas Hold’Em tournament. We would also re-felt all 20 of our poker tables with the Dash logo in the middle of the table. This will be the exclusive logo on all tables. We are requesting 20 Dash +5 (proposal fee) to run all three poker tournaments with a guaranteed 20% overlay (excess of prize pool over cumulative entry fees), re-felt all 20 poker tables, and provide extra staffing for educating players on downloading Dash wallets, purchasing Dash from our in-house Dash (General Bytes) ATM and buying into the tournament with it.


Who I am:

My name is Brian Sarchi. I have served various roles in the poker industry for over 12 years – initially as a player, but over the last decade owning/managing several different poker rooms in social gaming clubs of Portland, Oregon. I take pride in running a honest and legitimate business, always doing my best to show my customers how much I care about my business. I appreciate the opportunity to propose this mutually beneficial venture to the Dash Treasury.

I currently own and operate the poker room at Portland Meadows racetrack in Portland, Oregon. We attract over 1000 players to our room each week and have held single poker tournaments with over 400 players and prize pools over $100,000.


How this proposal benefits Dash:

Dash will ride the wave of publicity we will receive worldwide from being the first ever live physical poker room to run a poker tournament where entry fees and prizes are exclusively cryptocurrency-denominated. We will be alerting all the major online poker news websites and forums well in advance of our first Dash tournament. They should be expected to eat up and hype this story as crypto chatter/investment has taken the poker world by storm during 2017. It is important to note that online poker players were one of the ground zero audiences that have actually had a use case for crypto (depositing and withdrawing from online poker sites).

Re-felting all 20 of our poker tables with the Dash logo will also provide the ultimate billboard experience. It is hard to come up with another advertising medium where the target audience is essentially forced to stare at your logo for hours on end. 1000+ customers coming through our room each week will all receive this bombardment. Combine this visual assault with the crypto enthusiasm that has swept the poker world and our room in particular - then top it off with the General Bytes ATM positioned right at the entrance to our room and an audience that actually has use cases for a low-fee transaction-functional crypto (as opposed to the buy&hodl on Coinbase crowd) and we seemingly have a can’t miss recipe. Betcoin.ag already accepts Dash deposits and withdrawals for their online poker room/sportsbook. The current state of BTC transaction fees can only imply more widespread online gaming site adoption in 2018 . Getting these sites’ customer base’s feet wet with Dash’s superior transaction speed and fees can only accelerate their demands that the sites they play on at home adopt Dash as a currency option.

Finally, even though we want to emphasize use cases for Dash, one simply cannot deny the speculative arena that crypto has recently become. Nowhere is this truer than with the poker crowd who have a far greater than average risk-tolerance. Most of these speculators are still using BTC as their “gateway coin” in order to then swap their BTC on exchanges for their altcoin du jour. These speculators are still going to speculate, but they will learn quickly that Dash can fulfill that gateway role in a far superior manner to BTC and utilize it as their preferred medium of exchange.


Details:

Players will pay an entry fee of roughly 0.075 Dash to enter a No Limit Texas Hold’Em tournament. Assuming a field of 100 players, that yields an initial prizepool of 7.5 Dash. In order to promote and entice players to jump through the initially unconventional hoops, we are requesting Treasury funding to subsidize a 20% overlay in the prize pool.

Players who arrive without Dash will be led through the process of downloading a wallet and instructed on how to use our in-house Dash ATM to convert dollars to Dash. Once they have a wallet with sufficient Dash to enter the tournament, they will be directed to the staff member accepting entries. This staff member will maintain a wallet to which all entry fees are sent and walk each player through the process of sending Dash from their wallet to his/hers. Once the entry window is closed, and the total entry fees are known, the staff member’s wallet will be sent the 20% overlay subsidy via the funding provided by the Treasury.

Typically 10 to 15% of the players in the field receive a payout with first place obviously receiving the most and each successive position receiving less. The 20% prize pool subsidy will logically be pro-rated among each position so that each prize is 20% greater than it otherwise would have been without the Treasury’s subsidy. All players who finish “in the money” will have Dash sent back from the prize pool wallet to their wallet. They can then elect to convert all, some or none of their winnings back to dollars at the ATM at their discretion.

To enhance fun (since these are gamblers at heart!) we plan to have the Dash price displayed prominently throughout the tournaments so that the players can enjoy sweating its oscillations.

Treasury funding will also be utilized to purchase new felt for each table with the Dash logo prominently and exclusively displayed. New felt runs at roughly $200 per table but generally lasts roughly a full year before requiring replacement. The bang for the buck on such prolonged exposure simply cannot be matched with any other vehicle.

I will be posting updates of how the tournaments are going and making myself available for any and all questions/concerns the community may have.
 

Brian Sarchi

New Member
Dec 29, 2017
9
6
3
48
Would people have to buy in with Dash?
That's the plan. We would have a wallet set up at the front counter ready for all Buy-ins. We want players to get comfortable buying Dash, opening their own wallets and receiving Dash if or when they win the tournament.
 
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feedbands

Active Member
Dec 2, 2017
309
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In the future we might be able to set up a cash Buy-in and make the payouts I'm Dash. But to get the worldwide attention and Dash in the headlines using Dash for the Buy-in will be important.
I agree completely. Would be great if there was also a dash game on the side (non-tournament NL holdem).

What are the legalities of this in your jurisdiction?

How much are you asking?
 
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Brian Sarchi

New Member
Dec 29, 2017
9
6
3
48
I agree completely. Would be great if there was also a dash game on the side (non-tournament NL holdem).

What are the legalities of this in your jurisdiction?

How much are you asking?
Currently looking into doing side games. It's definitely a real possibility.

For this proposal I'm asking for 20 Dash. It will cover re-felting all 20 of my tables with the DASH logo. Also paying for the 20% Dash we will add to each tournament prize pool. (will be running three tournaments) Also covers extra staff needed to set up Buy-ins and explain the process.

Felt will also remain on tables until they get worn out. Table should last for at least one year.
 
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djcrypto

Member
May 27, 2014
180
94
88
Would be nice if you could get the attention of Doug Polk for this.
He is a major crypto nerd. Check his twitter.
Also, @TonyG is big into Dash.
Could this be livestreamed?
Would be awesome to get one or both of these legends in on it!
 

Name3

Member
Jun 23, 2017
126
41
78
What type of fees will there be on your general bytes atm?

I feel like it would be a bad experience if there was greater than a 2-3% fee on the atm purchase.
 

Brian Sarchi

New Member
Dec 29, 2017
9
6
3
48
djcrypto - I will absolutely be reaching out to those guys about this. I agree they will love it!

Livestream will definitely be a possibility at some point. Would take some planning and set up but not out if the question.

Thank you for the feedback.
 

Photosynthesis

New Member
Dec 15, 2017
12
2
3
What type of fees will there be on your general bytes atm?

I feel like it would be a bad experience if there was greater than a 2-3% fee on the atm purchase.
If I am understanding his proposal correctly, the entrance fee would be 0.075 Dash, so even if the ATM charged 5% fees, the customer would come out of pocket for .07875 Dash, but due to the Treasury 20% subsidy of the prize pool, each entry would increase the prize pool by .09 Dash. So I can't imagine the entrants would complain about their experience. Still a significant net overlay even if they win the tournament and choose to cash it all out back into $.

It's noteworthy that poker players are traditionally used to having 85-90 cents on the dollar of their entry fee end up in the prize pool.