Party Monster Cash Conversion

[BigBjorn]

I had an Excel of all qualifications and has sent this document to Poker Magazine, The Sun and the Officers in Gibraltar:

The biggest SCAM in On-Line Poker History


In August 2006 PartyGaming Ltd started a new Poker Tournament called the Monster.



The tournament was based on a step by step contest where the first level was based on payments from Tournaments, Sit&Go Tables or Ring Games. Out from these events money was transferred to the Monster Tournament, that would run from August 2006 to June 2007 with a Televised final.



The Tournament structure was based on a weekly tournament where the 2,000 best was given a token to a monthly tournament where the 1,000 best entered the FINAL. By running 8 monthly events the final was going to have up to 8,000 players.



At start-up Partygaming gave $5 mill to the Monster prize.



When US signed the bill against internet gambling, Partygaming decided to drop the Monster and pay out to all players that have qualified. At this time the no of qulified players were as:





Final Table: 1,000 (September month was finished)

Monthly Qualifiers: 8,231

Weekly Qualifiers: estimated at 10,000



At cancellation time Partygaming decided to pay out to each player as shown below:



Final: 1,000*1,800:72 $1,80 mill

Monthly: 8,231*350:19 $2,88 mill

Weekly: 10,000*100:02 $1,00 mill



In total they paid out around $5,7 mill (if players claimed thir rights). But the SCAM is that the total Monster at the same time was $14,7 mill, i.e Partygaming took $9 mill from the players. Don’t they have any money or whats up?



That this is unlawful is document below of their Terms & Conditions stated for the Monster:



About the PartyPoker.com Monster
1. You agree that by taking part in the PartyPoker.com "Monster" promotion and tournaments (the "Promotion") you will be bound by these Terms and Conditions, our Tournament Rules, our Disconnection and Cancellation Policy and our Terms and Conditions of Use (collectively the "Rules").



Disconnection and Cancellation Policy
Game cancellation policy
Multi-table tournaments
Players who have been eliminated from a tournament before cancellation for technical reasons will lose their buy-in and entry fee.

Any players still competing in a tournament when it is cancelled for technical reason will be refunded as follows:

1. Each player will be awarded prize money equal to the amount that would have been awarded to the next player to be eliminated.

2. After prize money has been allocated according to point 1, 50% of the remaining prize pool will be distributed equally between the remaining players, and 50% will be distributed on a percentage basis according to the remaining players' chip count at the time of cancellation.

3. The remaining players will also be refunded their entry fee.



Due to this there is an uproar in the poker community regarding Partygamings way to handle their customers and players are now leaving Partygaming in big hords.



I do think it would be a good idea to make an article around this issue.



VTY



Björn Hagström

Munkbron 11

11128 Stockholm

Sweden



Ph: +46708113102



A copy of this document is sent to (Partygaming is playing according to Gibraltar Gaming Comission):



Mr E. Gomez
Financial & Development Secretary's Office,
Treasury Building,
23a John Mackintosh Square
Gibraltar
T: 00350 51167
F: 00350 79901