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Minimum Payout

 
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roadmanagerphil
"Straight to the Ace"


Joined: 12 Sep 2005
Posts: 99
Location: Columbus, OH
PostPosted: Tue Dec 26, 2006 6:16 pm    Post subject: Minimum Payout Reply with quote
Is there a way to make the bottom payout be a minimum value? I think players making the money should get at least their buy in back. I've had a couple instances where the buy in is $25, and the bottom payout position gets $10... according to the formula we have (25% paid at 40% decay). I'd like to make that a minimum of either their buy in, or 'more than' their buy in, etc. Thanks!

Phil
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drneau
Site Admin


Joined: 13 Feb 2005
Posts: 2385
Location: Woodbury, MN
PostPosted: Tue Dec 26, 2006 6:26 pm    Post subject: Re: Minimum Payout Reply with quote
roadmanagerphil wrote:
Is there a way to make the bottom payout be a minimum value? I think players making the money should get at least their buy in back. I've had a couple instances where the buy in is $25, and the bottom payout position gets $10... according to the formula we have (25% paid at 40% decay). I'd like to make that a minimum of either their buy in, or 'more than' their buy in, etc. Thanks!

Phil


Not a way to do it, other than adjusting your formula.

Let's say your current formula causes the payouts to be $50, $30 and $10. Now, you want the minimum payout to be $20. What would the new payouts be in your mind?

a) $40, $30, $20
b) $45, $25, $20
c) $50, $20, $20
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roadmanagerphil
"Straight to the Ace"


Joined: 12 Sep 2005
Posts: 99
Location: Columbus, OH
PostPosted: Wed Dec 27, 2006 12:17 pm    Post subject: Reply with quote
This happens mainly when we start paying out 7 or more. For example, a $20 buy in with 28 players gives the payout as: $230 $140 $80 $50 $30 $20 $10. We round to the nearest $10 btw.

I can see 2 approaches- bottom payout gets their buy in back, where, just taking $10 off 1st place and adding it to the bottom payout would work.

If someone makes the money, I can also justify that they should win something, even if just $10 more than they bought in for, in which case, the bottom 3 places would all be $30 here, and I'm fine with that too.

Ideally I want to get a formula that works in all situations without me having to adjust it each time. A checkbox or something for "minimum payout not less than buy-in" would be great.
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Dix
"Royal Flush - No Hat"


Joined: 17 Jun 2005
Posts: 246
Location: W.Poland Maine - USA
PostPosted: Thu Dec 28, 2006 1:02 am    Post subject: Reply with quote
roadmanagerphil wrote:

If someone makes the money, I can also justify that they should win something...


I subscribe to the same thought... here's how I handle it...

We pay out 20% of the buy-ins... (it was kind of a "general consensus" that we came to way back when)

I always have the "Decay" set at 5% (because.... it seems to make the payout make sense)

I then just adjust the "Rate" until the last payout is somewhere around 125-150% of the buy-in.

It's quick, it's simple... and it works well enough. It's not that much work to play with the Rate spinner until the bottom payout is what you want.

At our last one we had 44 players with a buy-in of $50. Using the above I ended up at a "Rate" of 31% to give last place (8th) $75.

The payout was....

$680
$470
$330
$240
$175
$130
$100
$75
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roadmanagerphil
"Straight to the Ace"


Joined: 12 Sep 2005
Posts: 99
Location: Columbus, OH
PostPosted: Thu Dec 28, 2006 2:27 am    Post subject: Reply with quote
that makes sense. My only thought was that (especially for a league), consistency is always nice. So, I'd like to tell the players at the beginning of our season what the payout is, and not have to mess with it each game.

I played a $20 game 2 weeks ago, with 24 buy ins. I got 3rd place... a whopping $50!! 2nd was $150 and 1st was $275. That sux.
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Chad
"Ace High"


Joined: 14 Apr 2006
Posts: 2
PostPosted: Thu Dec 28, 2006 7:25 am    Post subject: Reply with quote
Phil.

You could setup up the automated feature that allows for 7-9 Players and do the percenatage there. Even for 30 players it only takes once to setup the way you want it.
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