EXHIBIT 10.29

MATERIAL TERMS OF COMPENSATION FOR
NON-EMPLOYEE MEMBERS
OF THE BOARD OF DIRECTORS
EFFECTIVE JANUARY 1, 2007

Each non-employee member of WPT Enterprises, Inc.’s Board of Directors will
receive the following as compensation for serving on the Board of Directors:

·                  Annual payment of $50,000.

·                  Chairman of the Audit Committee of the Board of Directors
will be paid an additional annual payment of $10,000.

·                  Chairman of the Compensation Committee of the Board of
Directors will be paid an additional annual payment of $5,000.

·                  On the date of each non-employee director’s re-election to
the Board, a non-qualified stock option under the Company’s 2004 Stock Incentive
Plan to purchase 4,000 shares of common stock at an exercise price per share
equal to the fair market value per share of the common stock will be granted.

--------------------------------------------------------------------------------