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Use formulas for your payout schedules!!!

 
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drneau
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Joined: 13 Feb 2005
Posts: 2385
Location: Woodbury, MN

PostPosted: Fri Feb 18, 2005 12:29 am    Post subject: Use formulas for your payout schedules!!! Reply with quote

While you can use tiered payout structures...just like any good tool supports...why not use a simple formula to dictate how many places are paid and how the payouts are distributed?

We use the same formula for every tournament:
- Pay 25% of the buy-ins
- Use the "Automatic (Accelerating) distribution with a rate of 30%.

"Rate" means that each finisher gets 30% more than the previous finisher. "Decay" means that the difference will decrease for each additional payout.

What's the result?
A 10-player tournament paying 25% with a rate of 30% and a decay of 0%:
- 1: 58.82%
- 2: 41.18%
A 20-player tournament paying 25% with a rate of 30% and a decay of 0%:
- 1: 36.06%
- 2: 25.24%
- 3: 17.67%
- 4: 12.37%
- 5: 8.66%
A 20-player tournament payting 25% with a rate of 30% and a decay of 30%:
- 1: 31.77%
- 2: 22.24%
- 3: 17.57%
- 4: 14.98%
- 5: 13.44%


It makes things a lot easier.


Last edited by drneau on Wed Jun 17, 2009 1:52 pm; edited 1 time in total
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Rob_V
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PostPosted: Sat Feb 19, 2005 10:16 am    Post subject: Fixed and % paid Reply with quote

Is there anyway to do this?

In our home game - 3rd place ALWAYS gets his money back.
1 and 2nd get 70% 30% of the remainder.
(we allow rebuys)
ie - 10 people - $50.00 each - 4 rebuys - $700 total purse
3rd gets $50
2nd gets $195
1st gets $455

I know this seems crazy payouts - but its not my house Smile
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JBWilkins
"Twos full of Threes"


Joined: 13 Feb 2005
Posts: 134
Location: Vegas ...baby....

PostPosted: Sat Feb 19, 2005 11:43 am    Post subject: Reply with quote

I believe you can set a fixed payout for a position (like 3rd) and then enter the % payouts for the other finishers. The fixed is(or shold be, I haven't tested this) deducted from the total payout before the top 2 are calcualted from the remain funds.

Ps just tested and it does work:


Set the players avaiable for percentage payout to 2
Set the players avaiable for fixed payout to 3
Enter the fixed payout for 3
Enter the % payouts for the other 2
Now you have one fixed and the other 2 adjusting....I may even start doing this myself...........
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drneau
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Joined: 13 Feb 2005
Posts: 2385
Location: Woodbury, MN

PostPosted: Sun Feb 20, 2005 1:13 am    Post subject: Reply with quote

JB's got it right. Shocked
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Guest






PostPosted: Sun Feb 20, 2005 12:33 pm    Post subject: Reply with quote

I did the same thing. I was wondering if there was a way to set it to round to the nearest $1 or $5 to simplify making change at the end of the night. I apologize if this has been added to v2 as I only ran one tourney thusfar and it was off the v1 code.
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drneau
Site Admin


Joined: 13 Feb 2005
Posts: 2385
Location: Woodbury, MN

PostPosted: Sun Feb 20, 2005 4:42 pm    Post subject: Rounding Reply with quote

Hell yes.

v1 had that...

for v2, it's on the payout schedule panel

Note that it'll do its best rounding. If you get players splitting payouts or hits, then that's another story.
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PostPosted: Sun Feb 20, 2005 11:35 pm    Post subject: Reply with quote

JBWilkins wrote:
I believe you can set a fixed payout for a position (like 3rd) and then enter the % payouts for the other finishers. The fixed is(or shold be, I haven't tested this) deducted from the total payout before the top 2 are calcualted from the remain funds.

Ps just tested and it does work:

.


Sweet.

Not to bug u - but where can I d/l it from?

Any reason you dont put the link on your site?
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drneau
Site Admin


Joined: 13 Feb 2005
Posts: 2385
Location: Woodbury, MN

PostPosted: Mon Feb 21, 2005 8:19 am    Post subject: Reply with quote

Because that's how I do it.

Send mail to order@drneau.com
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jumperjeff
"Miracle Flush"


Joined: 14 Feb 2005
Posts: 118
Location: Edmonton, AB

PostPosted: Mon Feb 21, 2005 12:17 pm    Post subject: Reply with quote

I was in a tourney last night where they paid out top three spots
3rd gets one buy-in back ($10)
2nd gets two buy-ins back ($20)
1st gets the rest of the money

I set up the software as follows and it worked perfectly.
3 finishers available for percentage prize
3 finishers available for fixed prize
$10 fixed prize for third
$20 fixed prize for second
100% percentage prize for first.

I don't really like their choice in payouts, but I came second... Smile
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unyostun
"Cowboys"


Joined: 26 Mar 2005
Posts: 32

PostPosted: Fri Apr 01, 2005 11:42 am    Post subject: Re: Use formulas for your payout schedules!!! Reply with quote

drneau wrote:
While you can use tiered payout structures...just like any good tool supports...why not use a simple formula to dictate how many places are paid and how the payouts are distributed?

We use the same formula for every tournament:
- Pay 25% of the buy-ins
- Use the "Automatic (Accelerating) distribution with a rate of 30%.

"Rate" means that each finisher gets 30% more than the previous finisher. "Decay" means that the difference will decrease for each additional payout.

What's the result?
A 10-player tournament paying 25% with a rate of 30% and a decay of 0%:
- 1: 58.82%
- 2: 41.18%
A 20-player tournament paying 25% with a rate of 30% and a decay of 0%:
- 1: 36.06%
- 2: 25.24%
- 3: 17.67%
- 4: 12.37%
- 5: 8.66%
A 20-player tournament payting 25% with a rate of 30% and a decay of 30%:
- 1: 31.77%
- 2: 22.24%
- 3: 17.57%
- 4: 14.98%
- 5: 13.44%


It makes things a lot easier.


Doesn't rate actually subtract the % from 1st place down? In your example with a rate of 30% and a decay of 0% 2nd makes 70% of what 1st makes. 1st gets 36.06% and 2nd gets 70% which is 25.24. If 1st made 30% more than 2nd and 2nd got 25.24% then 1st would get 32.81% which isn't the case.
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drneau
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Joined: 13 Feb 2005
Posts: 2385
Location: Woodbury, MN

PostPosted: Fri Apr 01, 2005 11:59 am    Post subject: Reply with quote

Close enough.
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Muley05
"A Set of Mop Squeezers"


Joined: 14 Jan 2009
Posts: 53

PostPosted: Tue Feb 03, 2009 1:33 pm    Post subject: Re: Use formulas for your payout schedules!!! Reply with quote

drneau wrote:
While you can use tiered payout structures...just like any good tool supports...why not use a simple formula to dictate how many places are paid and how the payouts are distributed?

We use the same formula for every tournament:
- Pay 25% of the buy-ins
- Use the "Automatic (Accelerating) distribution with a rate of 30%.

"Rate" means that each finisher gets 30% more than the previous finisher. "Decay" means that the difference will decrease for each additional payout.

What's the result?
A 10-player tournament paying 25% with a rate of 30% and a decay of 0%:
- 1: 58.82%
- 2: 41.18%
A 20-player tournament paying 25% with a rate of 30% and a decay of 0%:
- 1: 36.06%
- 2: 25.24%
- 3: 17.67%
- 4: 12.37%
- 5: 8.66%
A 20-player tournament payting 25% with a rate of 30% and a decay of 30%:
- 1: 31.77%
- 2: 22.24%
- 3: 17.57%
- 4: 14.98%
- 5: 13.44%


It makes things a lot easier.



Is there a way to replicate these calculations in Excel? I would think that there would be, but I have no idea what formulas to use....
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