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#71
10-13-2006, 06:22 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
[ QUOTE ]
Thought you might like the link. See points 25-27 Monster T&C [/ QUOTE ] Nice find, even if we don't happen to like what it says Based on that blurb, they certainly aren't LEGALLY required to distribute all $16M+. However, that doesn't mean that it would be a fair decision to keep $10 Million promised to players through advertising, their web site, and emails. I don't think it's necessarily a good long-term business decision, either. They aren't just short-changing / alienating US players who won't play there again. European players (their future revenue stream) who have Monster seats won't take kindly to this either. Their credibility is more than shaky today. Reneging on $10 Million out of $16 Million in advertised payouts, while not illegal, certainly won't help solidfy their remaining player base's faith in them. 
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#72
10-13-2006, 06:25 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
Whatever, I'm going to accept it and cashout. I still have emails that they will reply too..but I'm not risking anything. Party is clearly shady. Before I thought the odds of getting more $ was better than them taking it away....now that I've tried...it's the opposite.
Cashing out my 2250...Sadly.
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#73
10-13-2006, 06:33 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
I think the best way to figure this out would be the following...
There was $14.5 million in the Final jackpot. There was $7 million left in monthly freerolls. There was $2.2 million left in the weekly freerolls (about 22 left) Everyone who has a final entry, gets 1 share of final jackpot. Everyone with Monthly entry gets 1 share of monthly jackpot, plus 0.125 shares of the Final jackpot. (1 in 8) Everyone with weekly freerolls gets 1 share of weekly jackpot, 0.25 shares of monthly jackpot(1 in 4), and 0.03125 shares of final jackpot(1/4*1/8 = 1/32). Now calculate what the shares are worth and divide accordingly. If there are 1000 final entries, 10,000 monthly entries, and maybe 10,000 weekly entries as well, then: Final has 1000 shares + (0.125*10000) + (0.03125*10000) = 1000 + 1250 + 312.5 = 2562 shares. Each Finals share is $14.5 million / 2562 shares = $5650 Monthly has 10,000 shares + (0.25*10,000 weeklys) = 12500 shares each Monthly share is $7 million / 1250 = $560 Lets figure out how many shares we shall divide that into So Final is worth $5650(1 share final) Monthly is $760(0.125 shares final) + 1 share monthly($560) Weekly = 0.03125 final + 0.25 monthly + 1 weekly = $176.50 + $140 + $220 = $536 FINAL TOTALS: Final: $5650 Monthly: $1320 Weekly: $536 Checking those values we have ($5650)*(1000 entries) = $5.65 million ($1320)*(10000 entries) = $13.2 million ($536)*(10000 entries) = $5.36 million Add those totals we get $24.2 million which is the total monster jackpot ($14.5 million) + monthly ($7 milion) + Weekly (2.2 million) = $23.7 million My rounding errors account for the difference so the amounts in bold are off +- 2%
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#74
10-13-2006, 06:39 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
While it's fun to come up with these values (as I did earlier), it is essentially pointless. We've all emailed them and such. Either we'll get super lucky and their department will go "Holy [censored], we just made 16 million dollars out of nowhere!" or they won't.
I'll be honest, I would still go back later at some point if the EV was positive like Monster was. I don't pass up cash just for grudges.
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#75
10-13-2006, 06:40 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
[ QUOTE ]
I think the best way to figure this out would be the following... There was $14.5 million in the Final jackpot. There was $7 million left in monthly freerolls. There was $2.2 million left in the weekly freerolls (about 22 left) [/ QUOTE ] Well, I'd probably argue that it woud not be totally fair to say Party should have to pay the full $1 Million for all 7 monthly freerolls, and likewise should not have to pay $100k for ALL the scheduled Weekly Qualifiers. Since there are only 10,000 Monthly seats, paying even $1.25 Million (vs your $7 Million) would be close to adequate. Having said that, you used a completely different approach and came up with the same conclusion most people have: Final = $4,000-$5,000+ (not $1,800) Monthly = >$750 (not $350) Weekly = >$200 (not $100) Unlikely to help, but maybe fire off a couple of emails with your method to [email protected], [email protected], and [email protected]? Can't hurt.
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#76
10-13-2006, 06:42 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
[ QUOTE ]
So we are 100% entitled to that money. [/ QUOTE ] God you guys are goofs. Since when does Party care about doing what's fair, or what their customers want? It was never fair in the first place to rake the cash games to subsidize these freerolls. You should be happy they didn't just shut down all the US accounts and mail back the month in checks or something ridiculous like other sites did.
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#77
10-13-2006, 06:49 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
[ QUOTE ]
[ QUOTE ] So we are 100% entitled to that money. [/ QUOTE ] God you guys are goofs. Since when does Party care about doing what's fair, or what their customers want? It was never fair in the first place to rake the cash games to subsidize these freerolls. You should be happy they didn't just shut down all the US accounts and mail back the month in checks or something ridiculous like other sites did. [/ QUOTE ] Since my wife calls me a goof all the time I won't argue against that. Honestly, I certainly am happy that we got $s for the Monster seats and not a big pile of Jack Squat. When they announced they were pulling out of the US, I would have likely taken 1/2 the calculated EV of the seats, figuring getting $0 was just as likely to happen (this is Party, here) as getting full value for the seats. Once they announced on their site and in emails that they would be paying the FULL current and future value of the seats, it does become reasonable to lobby that they do that accurately and according to the way it was advertised. Their refusal to honor a guaranteed $ distribution will make me think twice about playing there again should it ever be an option (as it would if I was not from US).
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#78
10-13-2006, 06:56 PM
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Re: Official *Party Screwed Monster Seat Holders* Thread
[ QUOTE ]
I think the best way to figure this out would be the following... There was $14.5 million in the Final jackpot. There was $7 million left in monthly freerolls. There was $2.2 million left in the weekly freerolls (about 22 left) Everyone who has a final entry, gets 1 share of final jackpot. Everyone with Monthly entry gets 1 share of monthly jackpot, plus 0.125 shares of the Final jackpot. (1 in 8) Everyone with weekly freerolls gets 1 share of weekly jackpot, 0.25 shares of monthly jackpot(1 in 4), and 0.03125 shares of final jackpot(1/4*1/8 = 1/32). Now calculate what the shares are worth and divide accordingly. If there are 1000 final entries, 10,000 monthly entries, and maybe 10,000 weekly entries as well, then: Final has 1000 shares + (0.125*10000) + (0.03125*10000) = 1000 + 1250 + 312.5 = 2562 shares. Each Finals share is $14.5 million / 2562 shares = $5650 Monthly has 10,000 shares + (0.25*10,000 weeklys) = 12500 shares each Monthly share is $7 million / 1250 = $560 Lets figure out how many shares we shall divide that into So Final is worth $5650(1 share final) Monthly is $760(0.125 shares final) + 1 share monthly($560) Weekly = 0.03125 final + 0.25 monthly + 1 weekly = $176.50 + $140 + $220 = $536 FINAL TOTALS: Final: $5650 Monthly: $1320 Weekly: $536 Checking those values we have ($5650)*(1000 entries) = $5.65 million ($1320)*(10000 entries) = $13.2 million ($536)*(10000 entries) = $5.36 million Add those totals we get $24.2 million which is the total monster jackpot ($14.5 million) + monthly ($7 milion) + Weekly (2.2 million) = $23.7 million My rounding errors account for the difference so the amounts in bold are off +- 2% [/ QUOTE ] Jeeezus You are way off. The Final is worth 1 share each The monhly is worth 0.125 share + $125 The weekly is worth 0.03125 share +$12.50 No cumulative effect.look at your values and see that weekly can not possibly be worth that much compared to monthly. ToT
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#79
10-14-2006, 04:36 AM
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Re: Official *Party Screwed Monster Seat Holders* Thread
How did you figure out that there is 1000 GF 10000 Monthly ?
I thought they had 2 Montly finals with a 1000 qualifying from each?
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#80
10-14-2006, 05:26 AM
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Re: Official *Party Screwed Monster Seat Holders* Thread
[ QUOTE ]
How did you figure out that there is 1000 GF 10000 Monthly ? I thought they had 2 Montly finals with a 1000 qualifying from each? [/ QUOTE ] One monthly has been held, so 1000 Grand Finale tickets. PARTY screwed us one last time, if they do not rectify it, I hope some of the poker magazines will pick up the story of the stolen 5 million. ToT
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