Midway Poker Tour Founder Vows To Make Players Whole 17 Months After Silver Payout Debacle

Dan Bekavac, the landlord of the Halfway Poker Excursion who won a Mid-States Poker Tour (MSPT) event final week for $193K (and his 3rd MSPT identify), says he is in a position to start the method of paying out avid gamers from a 2020 charity poker match debacle.

In October 2020, Bekavac hosted the inaugural Halfway Poker Excursion $1,100 buy-in Primary Tournament at a resort within the Chicagoland house that attracted 266 runners. The match began off with out a hitch, however issues became south when avid gamers within the cash started to understand they weren’t going to receive their full winnings.

In general, about 30% of all the prize pool was once unaccounted for, or round $62,000. Best about $12,000 of that were paid again finally test.

Find out what happened at the Midway Poker Tour here.

Bekavac Beginning Payback Procedure

Bekavac gained the MSPT Riverside on March 21 for $193,000, and a couple of days later he advised PokerNews he is in a position to start the method to make Halfway Poker Excursion avid gamers entire.

He despatched a textual content to affected Halfway Poker Excursion avid gamers and CC’ed in PokerNews Govt Editor US Chad Holloway, who completed 5th in the similar MSPT tournament.

“I have promised to make everybody entire, and even if it is taken a while, I am after all ready to take action. And it is not simply because I gained, even if successful did assist expedite this, you’ll ascertain with Chad I reached out to him of final 12 months to set this up,” Bekavac wrote.

Holloway has reported at the MPT debacle a couple of occasions, together with a January 21 story about Bekavac competing in an MSPT tournament whilst ghosting the Halfway Poker Excursion avid gamers who have been owed cash. He has showed Bekavac to begin with reached out overdue final 12 months with the mentioned purpose of seeking to make avid gamers entire.

Backstory on Halfway Poker Excursion Scandal

Because of the Illinois Charitable Gaming Acts and Laws regulations, the Halfway Poker Excursion was once simplest approved to pay out $500 in money on best of the buy-in to people who cashed, regardless of how a lot they earned. The development had a charitable part and was once meant to assist carry cash for the 4 Ok.I.D.S. Sake nonprofit group.

Midway Poker Tour

To hide the surplus payouts, avid gamers have been supplied with treasured metals they might then resell for money, a loophole within the legislation different charity tournaments in Illinois had used up to now. The state Lawyer Normal’s administrative center even paid a consult with to make sure there have been sufficient treasured metals on-site and accounted for.

However the legislation would not allow the dear metals to be resold on-site, which supposed avid gamers have been pressured to retrieve the cash at an off-site industry, for sure an inconvenience, however nonetheless higher than what was once about to occur.

When the avid gamers went to unload the metals, they came upon they have been received at retail worth, or somewhat a steep mark-up. The issue was once that they had no method to promote them again for retail costs, which means they could not get sufficient cash to hide their complete payout. To place it otherwise, the metals they gained weren’t definitely worth the cash they have been owed.

The next is a listing of avid gamers who have been owed cash following the 2020 MPT Primary Tournament whilst making an allowance for an approximate 30 % in lacking worth on the time.

Position Participant Money Prize Paid Closing Prize Overall Marketed Payout Lacking 30% Worth
1 Renato Spahiu $1,600 $53,460 $55,060 $16,038
2 Satoshi Tanaka $1,600 $36,580 $38,180 $10,974
3 Joseph Paris $1,600 $24,200 $25,800 $7,260
5 Amanda Heidbrick $1,600 $12,520 $14,120 $2,756
6 Josias Santos $1,600 $10,000 $11,600 $3,000
7 Steve Federspiel $1,600 $8,080 $9,680 $2,424
9 Bob Peppe $1,600 $5,080 $6,680 $2,000
10 Frank Lagodich $1,600 $3,690 $5,290 $1,107
14 Jason Kapoor $1,600 $2,520 $4,120 $756
19 Kevin Maahs $1,600 $1,000 $2,600 $300
22 Alex Tremanis $1,600 $1,000 $2,600 $300
Midway Silver
Halfway Poker Excursion Silver

Bekavac has it seems that made preparations with unpaid avid gamers to lead them to entire at a few upcoming reside match stops.

He has additionally agreed to an interview on an upcoming episode of the PokerNews Podcast to talk about the payback procedure, what transpired in October 2020, and percentage his facet of the tale.

As of now, it seems that the affected person avid gamers suffering from the Halfway Poker Excursion payout debacle is also made entire, although simplest time will inform if that involves fruition.

PokerNews will proceed to watch the placement and be offering updates as they occur.

Author: Bradley Watson