[HavanaBanana]

[ QUOTE ]
Party Defrauding players.

Party claims to have paid out 14,405,786 to the holders of entries in the Monster promotion.
This is a lie and can not possibly be true, and below is the proof that Party has defrauded it’s customers of millions of dollars.

How much did Party Pay out from the 14,405,786 that they claim they paid out?

We know that they paid out 1000 times $1800.72 for the Grand Final entries. (1,800,720)

We do not know the exact number of Monthly entries that they have paid out, but we can estimate it pretty accurately as we know how many weekly qualifiers they have held (9) and how many of those 18,000 entries were used in the first Monthly (a little more than 7700).

That leaves 10300, Let us add another 700 that they may have given out for the Monster questionnaire, and we have 11,000 Monthlies.

That’s 11,000 times $350.09 (3,850,990)

We have less information about how many Weeklies were out there, but we know that there were between 4-5000 who played each Weekly.
If we Estimate 15,000 unused weeklies we surely are overestimating, As a quick look at the Monster Jackpot winners show that the Jackpot is paid out quite infrequently , less than once a week. Making it quite unlikely that there are huge amounts of unused Weekly entries out there.

Recent Winners
Winners of the Monster Bad Beat Jackpot
Date Winners (Screen Name) Prize Money
09/24/2006 fosterdboss $70,342
09/16/2006 hippo_jr $86,870
09/03/2006 Da1Grosser $143,048



That is 15,000 times $100.06 (1,500,900)

Which Equals 7,152,610 which is less than half of what they claim they have paid out.

But in these numbers Party also have added in the value of the weekly ($100,000) Monster Tourneys, and the Monthly (1,000,000) Monster Tourneys, which are not taken from the Monster Main pot, but were guaranteed.

The value to deduct from the Monthly is $125 (1,000,000 prize pool / 8000 entries)
And the value to deduct from the weekly entries is $12.50 + $31.25=$43.75(100,00 prize pool/max8000entries) + 2000/8000 of the $125 value of the Monthly cash.

We then get 7,152,610 less
11,000 times $125 (1,375,000)
And less 15,000 times 43.75 (656,250)

Equaling $5,121,360

So Party had defrauded the players of 14,405,786 less $5,121,360 = $9,284,426
Now let us take the seed money of $5,000,000 out of the equation for a second and Party has defrauded the Players of $4,284,426

The promotion had run for 9 weeks out of a total of 32 weeks, so the fair share of that $5 million to distribute to the players would be 9/32*5,000,000 =$1,406250 making the correct prize pool $10,690,676.


Let us now use these numbers to establish what a fair share for the 3 different entries would be.

There are 1000 Monster Grand Final Seats out there, let us use that as the standard, and give them 1 share each. (1000 shares)
The Monthly entries will be worth 0.125 share each (however the ones who already got a monster seat will have no claim for their monthly or weekly shares from the main pot, as one can only win 1 Grand Final Seat) I will deduct 600 so we got 10,400 times 0.125 which is 1300 shares from this level. (1300 shares)

The same is true for the weekly entries, let us deduct 600 for the ones that already have a Grand Final entry, and we get 14,400 times 0.03125 which is 450 shares. (450 shares)

So altogether 2750 Shares of the pool.

$10,690,676 divided by 2750 shares is $3887.51 per share.

This is $2086.79 that each of the Grand Final Entries has been defrauded out of by Party.

The Monthly entry should be worth $485.93 for the players that have qualified for the Grand Final, and add $125 for the fair value for everyone else so $610.93

The weekly entry should be worth $121.48 for the ones that have qualified for the Grand Final, and add $43.75 for everyone else and we get $165.23










[/ QUOTE ]


Please read through this, and see if any of the number are incorrect, it is late here.

This is a draft of what I intend to send to all appropriate forums, including poker magazines, different forums,Online Watch dogs for gaming sites, Gibraltarian gaming board, London Stock exchange. Please help me collect emailaddresses to these locations.

ToT