Official *Party Screwed Monster Seat Holders* Thread - Page 5

HavanaBanana · #41 10-13-2006, 04:09 PM

Consolation is that players will go where the americans are, I had some chats at the table whilst losing my last cents after my cashout at the tables, and players are going to Stars and FT.

ToT

chessrabbit · #42 10-13-2006, 04:12 PM

You (and those like you) are the only guys here with a right to complain IMHO. People who paid extra rake and got nothing got screwed. But then you were getting screwed by it anyway.

People like me that played these ridiculously easy tournaments and sngs are being paid much more than we put into the monster on average. We have no business complaining. The dollar value of a weekly should be $50 (10 $5 contributions from sng), for a monthly $200. Similarly for the final. Any excess funds beyond that should have been distributed somehow across all participants in the promotion with more going to guys like Chomp. That said, I happily cashed out what they paid me.

Whiners need to grow up and learn to have fun again. Party's gone, let's move on.

OK ... flame away. Please start with some derisive nonsense about me being a one-poster. 2+2-ers are as nitty/whiny online as they are at the table. (Doh! That includes me now.)

Klompy · #43 10-13-2006, 04:13 PM

[ QUOTE ]
I want Party to go on the record as to how many weekly tickets are/were in the system. If the number is large enough -- like if there were 184,000 weekly seats out there -- then their payouts are "fair" at least in the sense that they're not holding any money back (even though it's obvious that the grand final tickets would have had an EV of much more than $1800 had we not been Fristed).

Somehow I doubt that they awarded anywhere near that many tickets.

[/ QUOTE ]
so wait, there's a chance that people were ginding away on the 5$ turny's to win into other ones just because they knew they'd get an overlay on how they'd get paid out?

Klompy · #44 10-13-2006, 04:19 PM

Everyone who played the monster cash games knew what they were getting into, it's just that even with the extra rake a lot of the time they were more profitable then the other tables. I ended up winning quite a bit out of monster turny's but that still isn't as much as I put into it from cash games, does it suck? yes, would I still have played on the monster tables if I could go back? probably.

dave6 · #45 10-13-2006, 04:24 PM

[ QUOTE ]
[ QUOTE ]
I want Party to go on the record as to how many weekly tickets are/were in the system. If the number is large enough -- like if there were 184,000 weekly seats out there -- then their payouts are "fair" at least in the sense that they're not holding any money back (even though it's obvious that the grand final tickets would have had an EV of much more than $1800 had we not been Fristed).

Somehow I doubt that they awarded anywhere near that many tickets.

[/ QUOTE ]
so wait, there's a chance that people were ginding away on the 5$ turny's to win into other ones just because they knew they'd get an overlay on how they'd get paid out?

[/ QUOTE ]

I think it's also possible that a lot of tickets went to cash game players that didn't realize they'd won anything of value. There's nothing in the client or on the "my account" page that makes it obvious you have freerolls in your account. Also, if you didn't know any better, those "win a Monster 100,000USD" emails probably looked like spam.

NewGuy · #46 10-13-2006, 04:27 PM

[ QUOTE ]
You (and those like you) are the only guys here with a right to complain IMHO. People who paid extra rake and got nothing got screwed. But then you were getting screwed by it anyway.

People like me that played these ridiculously easy tournaments and sngs are being paid much more than we put into the monster on average. We have no business complaining. The dollar value of a weekly should be $50 (10 $5 contributions from sng), for a monthly $200. Similarly for the final. Any excess funds beyond that should have been distributed somehow across all participants in the promotion with more going to guys like Chomp. That said, I happily cashed out what they paid me.

OK ... flame away. Please start with some derisive nonsense about me being a one-poster.

[/ QUOTE ]

For the record, I honestly don't care if you have 1 post or 10,000. I also agree that the people who paid in Monster rake got more screwed, but they DID know EXACTLY what they were going to pay (i.e., $0.50/hand) and EXACTLY where the money was going when they sat at those tables. They chose to play Monster tables anyway.

You really don't think that players who were told by Party that "Party will pay out the full [$16M] in prize pools by expected value" and then received a total of $6M have ANY right to complain?

I guess you have a right to believe that it is "fair" that they advertised that they would distribute $16M and then pay $6M and keep $10M extra.

One other way to look at it:
When we decided to try to win a seat into the Final, it was based on a likely prize pool of $32-$40 Million. They said there would be 8,000 seats. So there was every reasonable expectation that seats would be worth $4,000 to $5,000 in EV. If they were easy to win, fine, but it is not unreasonable to expect to be paid the accurate value of the seat now, especially since it is very close to what the "expected" EV was going to be in May 2007.

MuckinWinners · #47 10-13-2006, 04:29 PM

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

John Ho · #48 10-13-2006, 04:31 PM

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.

What if European and Canadian players take the position that the Monster should go on as planned (fulfill what was advertised) and that U.S. players who have seats to the GF need to figure out a way to play in the tournament or get blinded off? IMO this position would not be any more unreasonable than what is being spouted here about expecting $5,000 for a GF seat.

Alternatively, Party could distribute half the prize pool to players with freerolls/GF seats based on expectation and the other half back to players based on how much they contributed to the pot.

(Edit) But without a doubt Party needs to distribute ALL the money back to the players. What has been done so far is a joke as there are millions out there they are holding without telling us how it's being distributed. I don't believe they should be obligated to pay out the $5 million in seed money but EVERYTHING else needs to be paid out.

DuderinoAB · #49 10-13-2006, 04:33 PM

People who played the jackpot cash games in order to qualify weren't too bright anyhow. I've seen people saying they've paid thousands in monster rake. SNGs were obviously the way to go for these things. I don't care if you have no tourney skill...anyone with half an idea of the value of starting hands will win 15% of the $6s they enter. Let's say you wanted to qualify for all 32 weeklies. Assuming a 15% winrate in the 6s it would take you 214 tournaments to win 32. 214x6=1284. I've seen people say they blew 5-10k in monster rake. That's just idiotic. Quit your bitching and let this be an expensive lesson in EV to you. I know I'm probably flaming a lot of people who are far better poker players than I am and a lot of 2p2ers who are far more respected than I am, but you guys kinda got what was coming to you.

NewGuy · #50 10-13-2006, 04:34 PM

[ QUOTE ]
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.

[/ QUOTE ]

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?