Party Monster Cash equivalent?

[fyodor]

Go to "my account"
-> Events & Promotions
-> PartyPoker Monster

Shows what tickets you have and gives you option to convert to cash

Frankly I think we were ripped off. I think my Final entry was worth at least double the $1800 I received. On the other hand they paid off a lot quicker than I thought they would.

[Cards201]

/EDIT got it... Thanks.

I see nothing anywhere to convert my 2 weekly and 1 monthlys to cash. Has anyone done this yet and can point me where to go (click)?

thanks again,
Cards

[Joe Taylor]

Start Client software. Click on "My Account". Under "Promotions & Events", click on Monster (the only option there). Screen will come up with information about conversion.

[stockguy22]

thanks guys for the posting.
Just got my $350.09 for the Monthly Million Qualifier,

You guys are too good. You have to go to the link on your account for monster qualifier to claim the money.

Here is the link:
https://secure.partyaccount.com/mons...er_monster.htm


Hope that helps,

Good luck
stockguy22

[dgillyerek]

what are these entries in transaction history?

13-Oct-06 11:02 ET Compensatory Freeroll Issued $00.00 78737883 Success
13-Oct-06 11:02 ET Compensatory Freeroll Issued $00.00 78737884 Success

[Right5]

Wow $650, Nice (even though I paid thousands in rake, was expecitn a lot less from Party)

[Wools]

[ QUOTE ]
what are these entries in transaction history?

13-Oct-06 11:02 ET Compensatory Freeroll Issued $00.00 78737883 Success
13-Oct-06 11:02 ET Compensatory Freeroll Issued $00.00 78737884 Success

[/ QUOTE ]

Comp'd weekly freeroll entries, for whatever reason.

I had one also and cashed it out for $100 in addition to the $350 for my one monthly.

[NewGuy]

If anyone agrees Party underpaid and wants to email Party, feel free to use whatever you like from the email I just sent


Hello,

Please address this large underpayment for Party Monster Seats.

A large group of players in the 2+2 community agrees that the amount of money paid out as compensation for the Party Monster freerolls was grossly unfair.

The approximate fair / expected value of Monster seat payouts are as follows below.

Executive Summary:

Grand Finale (May 2007) seats value = ~$5,000 (vs $1,800 paid)
Monthly seats value = ~$750 (vs. $350 paid)
Weekly seats value = ~$200 (vs. $100 paid)

Please note that these estimates are based on final prize pool of $14.5 Million and 10,000 weekly Monster seats left outstanding. To the extent there are fewer weekly seats, these values would increase correspondingly.



Payouts (actual vs "Fair"):

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
Fair Total Payment = $14.5 Million Monster Prize pool

Where did the other $8.2 Million promised to players go?


Detailed Calculation methodology:

Let W$ = Weekly seat $ value
M$= Monthly seat $ value
GF$ = Grand Final seat $ value

- 8,000 Monthly seats -> 1,000 Grand Final seats + $1 Million , therefore M$ = (GF$ x 1,000 + $1,000,000) / 8000 = 1/8 GF$ + $125
- 8,000 Weekly seats -> 2,000 Monthly seats + $100k, therefore W$ = (M$ x 2,000 + $100,000) / 8000 = 1/4 M$ + $12.50.
- Substitute 1/8 GF $ + $125 for M$ into above and you get W$ = 1/4 (1/8 GF + $125) + $12.50 = 1/32 GF$ + $43.75

So to sum up values that we know:
W$ = 1/32 GF$ + $137.50
M$ = 1/8 GF$ + $125
Total Prize Pool = ~$14.5 Million
# of Grand Final seats outstanding / to be paid = 1,000
# of Monthly seats to be paid = 10,000 (9 weekly qualifiers x 2,000 – 8,000 for 1 monthly run)
Weekly Seats outstanding / to be paid = ?

Formula for total prize pool distributed should be:
Total = Grand Final seats * GF$ + Monthly seats * M$ + Weekly Seats * W$

$14,500,000 = 1,000 * GF $ + 10,000 * (1/8 GF $ + $125) + WeeklySeats * (1/32 GF $ + $43.75)

Solving for GF $, we get:
$14,500,000 = GF$ * (1,000 + 1,250 + 1/32 WeeklySeats) + $1,250,000 + WeeklySeats * $43.75

$13,250,000 - WeeklySeats * $43.75 = GF $ * (2,250 + 1/32 * WeeklySeats)

GF $ = ($13,250,000 - WeeklySeats * $43.75) / (2,250 + 1/32 * WeeklySeats)


Final calculation
Plugging in a value of WeeklySeats = 10,000

Grand Final seat value = ($13,250,000 - $875,000) / (2,250 + 10,000 / 32) = $5,000
Monthly seat value = $750
Weekly seat value = 200

If weekly seats outstanding are only 4,000, then we get
Grand Final seat value = ($13,250,000 - $875,000) / (2,250 + 4,000 / 32) = $5,505
Monthly seat value = $813
Weekly seat value = $216

If weekly seats outstanding are 20,000, then we get
Grand Final seat value = ($13,250,000 - $875,000) / (2,250 + 20,000 / 32) = $4,304
Monthly seat value = $663
Weekly seat value = $173

[solucky]

Party canceled the whole promotion. From my understanding they add around 8 million so far..weeklys....monthlys and 5 Mill for the final. I guess in there calculation they want sell the TV-rights....thats history. So if they remove any added money we have ONLY 6,xx millions.....so i think the payout is not great but OK.

[utility]

[ QUOTE ]
Party canceled the whole promotion. From my understanding they add around 8 million so far..weeklys....monthlys and 5 Mill for the final. I guess in there calculation they want sell the TV-rights....thats history. So if they remove any added money we have ONLY 6,xx millions.....so i think the payout is not great but OK.

[/ QUOTE ]

i guess you have a point here.

but then they should state it like that, though.
but the calcualation that they put on their site are referring to the full 14M. and these are incorrect.

after all i think its ok, that they take back the money they invested on their own. but they should be honest about it.
on the other hand it is party....so what did we expect [img]/images/graemlins/wink.gif[/img]