Party poker has cancelled its Monster tournament structure.
The structure is
100k Weekly Tournament, 25% make it into the Monthly 8000 people
$1 million Monthly Tournament, 12.5% make it into the Final 8000 people
Final tournament, current prize pool $14 million 8000 people
Cut from their site
Cash values for each freeroll (not taking into account any future value):
Grand final: ( $14,405,786 Prize Pool / 8,000 players ) = $1,800.72 per player
Monthly: ( $1,000,000 Prize Pool / 8,000 players ) = $125.00 per player
Weekly: ( $100,000 Prize Pool / 8,000 players ) = $12.50 per player
Probability of advancing from one tournament to another:
Weekly to Monthly = ( 2,000 players advancing / 8,000 players advancing ) = 1 out of 4
Monthly to Grand Final = ( 1,000 players advancing / 8,000 players advancing ) = 1 out of 8
Future values for each freeroll:
Value of a Monthly freeroll to a player with a Weekly freeroll
( 1 out of 4 ) * $125 = $31.25
Value of a Grand Final entry to a player with a Weekly freeroll
( 1 out of 4 ) * ( 1 out of 8 ) * $1,800.72 = $ 56.27
Value of a Grand Final entry to a player with a Monthly freeroll
( 1 out of 8 ) * $1,800.72 = $225.09
Total value for each unused freeroll:
Weekly: $12.50 + $31.25 + $56.27 = $100.02
Monthly: $125+$$225.09 = $350.09
Grand Final: = $1,800.72
8000 * (100+350) = 3.6 million
1000 * $1800 = 1.8 million
Total Monster Prize pool = $14,000,000
Net STOLEN by PP = $8.6million
As a ticket holder for the Grand Final, I expected the payout to be, whatever money is leftover after weekly and monthly disubrsement / 1000 players , which in this case would have been $10,400
dividing the total amount by 8000 is just asanine as there are only 1000 people who have an entry, and at most 2000 if you count those who might win it this month. That leaves a 6000 player vacuum, which would take millions of dollars in entries/attempts in order to fill, thust altering the value.
I may have to pursue this legally if they don't rectify it. $8600 or more is a major short. Though if they shorted me, they shorted everyone in their calcuations.
Either way I see it, they are keeping 8.6 million that they shouldnt be, by doing "bad" math.
The structure is
100k Weekly Tournament, 25% make it into the Monthly 8000 people
$1 million Monthly Tournament, 12.5% make it into the Final 8000 people
Final tournament, current prize pool $14 million 8000 people
Cut from their site
Cash values for each freeroll (not taking into account any future value):
Grand final: ( $14,405,786 Prize Pool / 8,000 players ) = $1,800.72 per player
Monthly: ( $1,000,000 Prize Pool / 8,000 players ) = $125.00 per player
Weekly: ( $100,000 Prize Pool / 8,000 players ) = $12.50 per player
Probability of advancing from one tournament to another:
Weekly to Monthly = ( 2,000 players advancing / 8,000 players advancing ) = 1 out of 4
Monthly to Grand Final = ( 1,000 players advancing / 8,000 players advancing ) = 1 out of 8
Future values for each freeroll:
Value of a Monthly freeroll to a player with a Weekly freeroll
( 1 out of 4 ) * $125 = $31.25
Value of a Grand Final entry to a player with a Weekly freeroll
( 1 out of 4 ) * ( 1 out of 8 ) * $1,800.72 = $ 56.27
Value of a Grand Final entry to a player with a Monthly freeroll
( 1 out of 8 ) * $1,800.72 = $225.09
Total value for each unused freeroll:
Weekly: $12.50 + $31.25 + $56.27 = $100.02
Monthly: $125+$$225.09 = $350.09
Grand Final: = $1,800.72
8000 * (100+350) = 3.6 million
1000 * $1800 = 1.8 million
Total Monster Prize pool = $14,000,000
Net STOLEN by PP = $8.6million
As a ticket holder for the Grand Final, I expected the payout to be, whatever money is leftover after weekly and monthly disubrsement / 1000 players , which in this case would have been $10,400
dividing the total amount by 8000 is just asanine as there are only 1000 people who have an entry, and at most 2000 if you count those who might win it this month. That leaves a 6000 player vacuum, which would take millions of dollars in entries/attempts in order to fill, thust altering the value.
I may have to pursue this legally if they don't rectify it. $8600 or more is a major short. Though if they shorted me, they shorted everyone in their calcuations.
Either way I see it, they are keeping 8.6 million that they shouldnt be, by doing "bad" math.
