English Chess Forum

It appears this is going ahead, but in Atlantic City.

https://millionairechess.com/

They are effectively restricting eligibility to players with established ratings. Whilst that's good as an anti-sandbagging device, it's very poor as far as promotion of tournament chess to new players is concerned.

Outside the Open, they are regarding "established" as 60 games.

I also see they have halved the entry fee to $500 presumably because they are just not getting the players and cut down the prize pool to $510,000 because they just can't get the sponsors . It's still a goodly sum but to still call it Millionaire chess is becoming quite misleading.

Chris Rice wrote:It's still a goodly sum but to still call it Millionaire chess is becoming quite misleading.

The entry fee is reducing towards the norm for major US tournaments.

The World Open entry fee is over $ 300.

http://www.chesstour.com/wo16.htm

Chris Rice wrote:and cut down the prize pool to $510,000 because they just can't get the sponsors . It's still a goodly sum but to still call it Millionaire chess is becoming quite misleading.

And only 60% guaranteed. The prize fund seems to be $306k based on 1200 entrants.

The winner will become a millionaire if they've already got $970,000 - unless they're foreign, in which case tax will be deducted at source.

I’ve always thought the idea of the millionaire chess a bit gimmicky and getting increasingly tackier. It’ll never be in the leagues of say the WSOP main event, where these days anyone who finishes in something like the top 30 becomes a millionaire and the top prize is 5 million plus, I know which one id be entering given the choice.

The top players have enough money already.