Official *Party Screwed Monster Seat Holders* Thread

[NewGuy]

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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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That is perhaps our limited best shot at Party actually paying attention to the shortfall. The odds that they will act to correct this based on emails, phone calls, etc from a few irate players is slim at best. (I've sent 7 emails now, and received the same form letter "Unfortunately, BLAH BLAH BLAH untenable..."

But if they were to become concerned that there might be a public backlash that would damage their already shaky credibility with their remaining player base, that might get their attention.

I would think Mike Sexton likely already knows they kept back a large potion of the prize pool, but I suppose he might not and it might be worth trying to get a reaction from him. I wouldn't know how to do that, but someone on 2+2 might.

(As for the $5 Million figure, I assume you are excluding the $5 Million in seed money, correct? Since if there were 10,000 weekly seats outstanding Party only paid $6M of a projected $16M.)

[SoloAJ]

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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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That is perhaps our limited best shot at Party actually paying attention to the shortfall. They won't care about emails, phone calls, etc from a few irate players.

But if they were to become concerned that there might be a public backlash that would damage their already shaky credibility with their remaining player base, that might get their attention.

I would think Mike Sexton likely already knows they kept back a large potion of the prize pool, but I suppose he might not and it might be worth trying to get a reaction from him. I wouldn't know how to do that, but someone on 2+2 might.

I assume with the $5 Million figure you are excluding the $5 Million in seed money, since if there were 10,000 weekly seats outstanding Party only paid $6M of a projected $16M. Is that correct?

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15 million Monster, 7 million monthly frees, 2 million weekly.

If theyre factoring those 7 and 2 mil into their calculations I don't see why we wouldnt. The pot was 24 million....we got between 6 and 8.

[NewGuy]

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15 million Monster, 7 million monthly frees, 2 million weekly.

If theyre factoring those 7 and 2 mil into their calculations I don't see why we wouldnt. The pot was 24 million....we got between 6 and 8.

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I have a hard time believing it is reasonable to expect Party to pay out $7 Million in prizes for 7 cancelled Monthly $1M tournaments, for the following reasons:
1) They have only awarded 10,000 unused monthly seats, and that would be effectively paying prizes for 56,000 seats
2) They have not had an opportunity to collect their Monster rake for the full period. I do think they should pay out 100% of what was collected so far, but not what "would" have been collected.
3) The T&C do state they can change the promotion at any time, and it seems reasonable that since no more players will be awarded monthly seats, they should only fund the equity for the ones already awarded (i.e., $1.25 Million, not $7 Million)

But I do agree with the main point: the "Guaranteed" prize pool is over double the $6-$8 Million they actually paid out.

[fyodor]

I'm just going to concentrate on the value of a Final ticket to make this simple.

There was $14,405,760 presently available to be divided up.
There were 1000 known qualifiers.
There were ~10,250 players with a monthly ticket.
There were an unknown number with weekly tickets which I am prepared to guestimate on the extreme high side as 60,000.
The chance of a monthly ticket holder qualifing was .125 x 10,250 = 1,281 more finalists
The chance of a weekly ticket holder qualifing was .03125 x 60,000 = 1,875 more finalists

1000+1281+1875=4156 shares in the $14,405,760 = $3,466.25 for a final ticket. (And remember - this is based on an estimate of 60,000 outstanding weekly ticket holders)

Even if PP unethically subtracted the original $5,000,000 in seed money due to the lack of exposure they expected (and I wouldn't blame them for this one bit) we still have a calculation of $2,263.17 per ticket.

I guess getting ripped off for $460 isn't as bad as it could be, but I was most definitely ripped off.

[SoloAJ]

NewGuy,

I stated my reason very clearly. They factored those values into their computations to make the numbers look "better." If they are going to include it, so am I. $24 million.

[Gotmilk]

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

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I'm sure "We recommend that you revisit these Terms and Conditions regularly. By your continued participation in the Promotion you acknowledge your acceptance of any such changes." will hold up to legal scrutiny.

[smashoneout]

As I said in the other thread - Party is based out of the States, so "Guaranteed" is a meaningless word. If by some miracle online poker becomes U.S. regulated and taxed in the future, you'll be damn sure the poker commission would hold them accountable for such statements.

[thechainsaw]

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I'm just going to concentrate on the value of a Final ticket to make this simple.

There was $14,405,760 presently available to be divided up.
There were 1000 known qualifiers.
There were ~10,250 players with a monthly ticket.
There were an unknown number with weekly tickets which I am prepared to guestimate on the extreme high side as 60,000.
The chance of a monthly ticket holder qualifing was .125 x 10,250 = 1,281 more finalists
The chance of a weekly ticket holder qualifing was .03125 x 60,000 = 1,875 more finalists

1000+1281+1875=4156 shares in the $14,405,760 = $3,466.25 for a final ticket. (And remember - this is based on an estimate of 60,000 outstanding weekly ticket holders)

Even if PP unethically subtracted the original $5,000,000 in seed money due to the lack of exposure they expected (and I wouldn't blame them for this one bit) we still have a calculation of $2,263.17 per ticket.

I guess getting ripped off for $460 isn't as bad as it could be, but I was most definitely ripped off.

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I agree with this, and reading this thread has made things clear. It seems they paid out to 7000 winners from the prize pool that didnt exist, and kept the funds themselves.

On the one hand I'm happy to get something rather than nothing.

But on the other PP have defrauded loyal customers. It really doesnt matter that much that it's by $50, $500 or $5000. I only signed up to play in the monster tournaments, which i invested a large amount of time on.

Party Poker should be open and up front about what they are doing. If they choose to mislead their customers, and defraud them, it is their choice, but surely the long term loss of reputation (eg from excellent internet postings like this one), will disuade them and other companies from taking such actions.

I look forward to an immediate review and subsequent statement from Party Poker.

[William]

I look forward to an immediate review and subsequent statement from Party Poker.

MWAHAHAHAHAHAHAHAHA!!!!!!!

You guys are killing me tonight [img]/images/graemlins/grin.gif[/img] [img]/images/graemlins/grin.gif[/img] [img]/images/graemlins/grin.gif[/img]

[MicroBob]

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As I said in the other thread - Party is based out of the States, so "Guaranteed" is a meaningless word. If by some miracle online poker becomes U.S. regulated and taxed in the future, you'll be damn sure the poker commission would hold them accountable for such statements.

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Actually, I don't think that's a given at all.

haven't there been U.S. promotions where the casino pretty much reserves the right 'to change the promotion as they see fit' or something like that and customers end up getting screwed?