Bike Tournament ...Very disappointing

[QUADS4444]

The Bike offered a player appreciation tournament yesterday for its top section players.

If you played 50 hours in their top section you could buy into the tournament for $500+$40. If you had more hours, you could get in for progressively less, $340, $240 ect.. Finally if you had 300 hours, you got in for free.

The problem with the tournament is that a lot of players assumed the cash pool would be $500 times the number of participating players (187 players x $500 = $93500)

Instead the cash pool only consisted of the moneys the players put up. (less than $30,000). So this averaged only about $150 per player.

So in effect, the players that gave the Bike 50 hours of business and paid $500+$40 ended up having a negative equity of $390 ($540 - $150 = $390)

Yes the Bike did add a BMW to first place but this still doesn't offset the negative equity of the $540 buy-in.

All in all, I think this leaves a bad taste in many players mouths. And it angers players rather than pleases them.
I for one will not be giving the Bike my business for quite some time.

[GTL]

how many players entered. what were the prize pools

[Rottersod]

I don't even bother to bring my bike card when I play anymore. I don't play in the players appreciation tourneys since they take place when I am at work (I guess I could take the day off if I really wanted to play), and I get free food at the top section. I wish they'd go back to giving us cash back for hours played.

[QUADS4444]

Don't remember the exact numbers but it was about...

187 players.
Prize pool was under $30,000.

That comes out to an equity of about $160 per player.

What a rip off for the players that paid $500+40 to get in.

And this is how the Bike rewards its regular top section players? What a joke.

[SEAN.R.R]

yea after the last one i don't even bother with my card... cash back was nice i would have a couple grand at least if they were still doing that.

[QUADS4444]

I understand that the cash back used to be $5 an hour. That was a great promotion. If they bring that back, I might consider playing there again.

[chube]

If that is true, it is the most ridiculous thing I have ever heard! What would happen if everybody but one person had played 300+ hours. 180 people, $240 prize pool?

[Rottersod]

[ QUOTE ]
I understand that the cash back used to be $5 an hour. That was a great promotion. If they bring that back, I might consider playing there again.

[/ QUOTE ]

One of the card scanners told me the other day that I should bring my card as they were going to do something special but he wouldn't way what. I'm not sure if it was just a play to keep his job.

[cardcounter0]

[ QUOTE ]
Yes the Bike did add a BMW to first place but this still doesn't offset the negative equity of the $540 buy-in.


[/ QUOTE ]
Uhhhh.... run that by me one more time.
[img]/images/graemlins/confused.gif[/img]

[Chief911]

Lets pretend the BMW was a 3-series (I'll use a new 335 nicely equipped for this) and is worth $50000.

That makes the player equity $427.8 which isnt all bad.

Nick