Official *Party Screwed Monster Seat Holders* Thread

[solucky]

they paid all out, and the 0,50 was for a big part BAD BEAT RAKE not MONSTER RAKE

[NewGuy]

Most people were estimating nowhere close to 40,000 weekly seats outstanding. If there were only 10,000 seats out there you need to reduce the amount Party paid out by $3 Million in your calculations.

Even if we could agree taking back the $5 Million in seed money was reasonable (we won't), that at the very least makes the caclulation they showed on the website (the one that showed how the EVs added up neatly to $14.5M) extremely
disingenuous and misleading.

To beat a dead horse, yes the people who paid $0.50/hand donated a lot of $s to Party and got little back, but they knew they were going to pay that when they sat down.

Players who played in the freerolls did so based on Party advertising the prize pool, INCLUDING the $5 MILLION, and based on reasonable expectations of what weekly/monthly/Final seats would be worth. Reasonable calculations of tournament values, based on Party's advertising and emails suggested a Final seat value of $4,000 - $7,000 and Monthly seat EV of $500 - $1,000 ($32M - $40M / 8,000 total seats, $14 M / ~2,000 seats so far).

All of this information was publicly available per Party.
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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
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.

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[pokerplayer28]

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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.

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Im not american and if there was a time to treat their current customers (non americans) well, its now. theyll probably offer a NOAMERICANS bonus soon with only a 5x clearing rate and put together a miniture monster.

[Apathy]

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Party seeded the monster pot with $5M (I believe). I cant see them handing that out now...so I would subtract $5M from that Monster Jackpot total.

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You are incorrect, this money was guarenteed not added.

[Pokertini]

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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.

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Party Poker Terms & Conditions regarding Monster Promotion
{excerpt}
PartyPoker.com reserves the right to alter, amend or terminate this Promotion, or any aspect of it, at any time and without prior notice. We may make changes to these Terms and Conditions and will notify you of these changes by posting the modified terms on this page. We recommend you revisit these Terms and Conditions regularly. By your continued participation in the Promotion you acknowledge your acceptance of any such changes.
Any dispute or situation not covered by the Rules will be resolved by PartyPoker.com’s management in a manner it deems to be the fairest to all concerned, and that decision shall be final and/or binding on all entrants.
If the Promotion can not be executed as planned, including any problems or technical malfunction beyond the control of PartyPoker.com, PartyPoker.com shall incur no liability and Prizes will not be awarded.

Frankly, I'm amazed they paid us at all.

[PBJaxx]

Good work. Way to actually read the T&C. It is a bit ridiculous that none of us checked that out yet.

-Jaxx

[Pokertini]

Thought you might like the link. See points 25-27
Monster T&C

[LotsOfOuts69]

Oh, and those who think its OK if Party kept the $5 million seed money, remember that they promoted this with the guarantee of that extra $5 million, so those who participated included that in the equity of their time to play on Party Poker.

So we are 100% entitled to that money.

And yes, I am really really regretting my decision as well that I insta-cashed out when I saw it was available this morning.

[jjacky]

thanks for posting this.

i have sent the exact same e mail. i am sure the response will be completely useless. let's see.

[Hyperion]

My email to Party:

To: [email protected] <[email protected]>; [email protected] <[email protected]>; [email protected] <[email protected]>

Subject: I expect additional compensation credited for my Party Monster Seats

Dear Sir/Ma'am,

I am writing as I am concered about the large underpayment for Party Monster Seats. The amount of money paid out as compensation for the Party Monster freerolls was groossly unfair. Your calculations on the website of fair EV are incorrect as the Grand Final at this stage does not have 8000 entrants and due to the culmulative nature of the monster prizepool, once there was 8000 people qualified, the prizepool would be much larger.

What was actually paid by Party:
1,000 Grand Final x $1,800 = $1.8 Million
10,000 Monthly x $350 = $3.5 M
~10,000 Weekly x $100 = $1.0 M

Total Actual Paid = $6.3 Million

Where did the other $9.7 Million promised to players go? The total fair payment should allow the entire prizepool to be paid out.

The EV calculations listed https://secure.partyaccount.com/mons...er_monster.htm are similar to saying it would be fair if I qualified for a tournament which had a 1000 player cap and the tournament was cancelled beforehand with only 200 registrants who had themselves contributed $2000 to the prizepool to only compensate each registrant $2 because the EV was $2000/1000 players?

I understand that as Party Poker is a publicly listed company and due to US legistlation changes it needed to cancel the Monster. I accept this, however this Monster payout demonstrates a total lack of integrity of Party Poker and although as an Australian resident I can still play at Party Poker, I will choose not to unless the compensation for my Party Monster Seats is refunded fairly.

Yours Sincerely,