Official *Party Screwed Monster Seat Holders* Thread - Page 6

Klompy · #51 10-13-2006, 04:35 PM

Duderino,

I don't think anyone on this board was playing the monster tables to try and qualify, that's just a bonus if it happened. People played the tables that fish were at, if the best tables were at monster at any given time, that's where I and I'm guessing others were playing.

John Ho · #52 10-13-2006, 04:38 PM

I agree it would be tough to figure out exactly how much each player contributed - though I don't think that is impossible.

What isn't reasonable is that the money gets distributed in some unfair manner simply because it takes too much work to do it right.

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The main problem is Party should have made clear what would happen if the Monster had to be cancelled for reasons outside their control.

I'm inclined to think all the money in the prize pool should have just been returned to players who contributed towards it - subtracting anything that was already paid out in weekly and monthly tournaments. And yes that would mean a seat in the GF would be worth nothing.

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I agree they should have made it clear.

But shouldn't they now honor the prize pool distribution that has been advertised for months, which is that it will go to the freeroll prize pools?

But let's put that aside and say that it would be "fair" to refund the extra Monster rake to cash game players.

How? Do you think it is even remotely PRACTICAL to expect Party to accurately track exactly how many times / how much $s each and every player contributed $0.50 in Monster rake?

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pokerplayer28 · #53 10-13-2006, 04:43 PM

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Ok, someone tell me if I am off-base here, but ...

Even if Party were to claim that there were 7 monthly and 24 or 25 weekly tournys that were not played and therefore the prize pool for these tournys was not included in the "settlement", there still appears to be approx $7-8 mililion NOT being paid out AFTER removing the "seed" money.

I calculate th following to be somewhat close to a "FAIR" settlement:

Finale Seat Holders --- $4,000
Monthly Seat Holders -- $770
Weekly Seat Holders --- $210

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4,000 x 1000 = 4000000
770 x 10231 = 7877870
210 x 24,000 estimate = 5040000
totals 16.9M

thats too much party has decided to take back every freeroll dollor put in that was not used so party is obligated to give back 9405786

1800 x 1000
350 x 10231
100 x 24000
total is 7,782,971
so party is most likely stealing 1.6M

there would have to be 40,224.9 weeklies for party to not be stealing any money, 40,000 seems unlikely since there are only 184,000 seats left.

SEABEAST · #54 10-13-2006, 04:43 PM

Um sorry for the stupid question but just to clarify, the Monster tourneys are no longer being held at all right?
I'm non US and just want to make sure before i redeem GF entry. Thanks...

NewGuy · #55 10-13-2006, 04:44 PM

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What isn't reasonable is that the money gets distributed in some unfair manner simply because it takes too much work to do it right.

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I agree with that sentiment.

I'm just very surprised that EVERYONE doesn't agree that however they distribute it (stupidly to freeroll seat holders, back to Monster cash gamers, through a random drawing, whatever), they should distribute ALL $16M promised. How should we feel "lucky" we got 3/8ths of what was advertised?

The most and only really important point of this whole thread IMO:
1) They advertised / promised on the website $16 Million in payouts for Monster
2) They paid out $6 Million to players and kept $10 Million
3) What are we at least trying to do about it?

HSB · #56 10-13-2006, 04:44 PM

Party didn't treat players well when they were expecting the players to play in the future. They are certainly not going to treat you better now that you can't play there in the future.

MuckinWinners · #57 10-13-2006, 04:44 PM

I just found the "formula" Party used to calculate their "settlement":

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Cash values for each freeroll (not taking into account any future value):

Grand final: ( $14,405,786 Prize Pool / 8,000 players ) = $1,800.72 per player

Monthly: ( $1,000,000 Prize Pool / 8,000 players ) = $125.00 per player

Weekly: ( $100,000 Prize Pool / 8,000 players ) = $12.50 per player

Probability of advancing from one tournament to another:

Weekly to Monthly = ( 2,000 players advancing / 8,000 players advancing ) = 1 out of 4

Monthly to Grand Final = ( 1,000 players advancing / 8,000 players advancing ) = 1 out of 8

Future values for each freeroll:

Value of a Monthly freeroll to a player with a Weekly freeroll

( 1 out of 4 ) * $125 = $31.25

Value of a Grand Final entry to a player with a Weekly freeroll

( 1 out of 4 ) * ( 1 out of 8 ) * $1,800.72 = $ 56.27

Value of a Grand Final entry to a player with a Monthly freeroll

( 1 out of 8 ) * $1,800.72 = $225.09

Total value for each unused freeroll:

Weekly: $12.50 + $31.25 + $56.27 = $100.02

Monthly: $125+$$225.09 = $350.09

Grand Final: = $1,800.72

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NewGuy · #58 10-13-2006, 04:47 PM

The problem's in red:

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I just found the "formula" Party used to calculate their "settlement":

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Cash values for each freeroll (not taking into account any future value):

Grand final: ( $14,405,786 Prize Pool / <font color="red"> 8,000 BUT IT SHOULD BE CLOSER TO 2,000 </font> players ) = $1,800.72 per player

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PokerTime4Me · #59 10-13-2006, 04:48 PM

I had a monthly and final ticket.

So Party paid out something like:

100.02 x 40,000*= $4,000,800
350.09 x 10,250 = $3,588,423
1800.72 x 1,000 = $1,800,720

Total = $9,389,943

* based on an educated guess formulated by the following:

1400 qualify each day, 60 days, 45k tickets used, rounded up for BBJ weekly tickets awarded

This means they kept all the prizepools from future weekly/monthly and the 5 mil final seed. They just paid out what the rake / tournament fees had raised for the final prize pool. Its basically the cheapest thing they could have done that they can make an arguement is fair. I'm sure they ended up making a lot of money on the promotion.

The weekly and monthly freerolls were valued correctly or even overvalued. The majority of players have those tickets, so many of you should feel adequately compensated.

I think everyone with the final tickets were cheated on the payout (based on their logic, the final prize pool should have been adjusted to reflect the prize pool when the tournament would have ran with 8000 players) but the real losers are cash game players that were forced to put alot of money into the promotion (if they wanted to play on Party) and got no return.

MuckinWinners · #60 10-13-2006, 04:50 PM

I was taking into consideration the number of weekly seat holders that would make the weeky tournys FILL and then the number of monthy seat holders that would make the monthly Tournys fills. This gave me a number of each tourny currently set to "Go". I used the value for the prize pools from these calculations to distribute amoungst the overall seat holders. There are enough seat holders to make $14.5 million dollars worth of prize pool distributions.