Post by Steve King (Admin) on Jan 30, 2012 7:26:32 GMT -6
Marketing your tourney on websites, facebook and in flyers can be difficult to draw folks in to your event, unless you do it the RIGHT way if you don't know payouts. To boost attendance to a tourney by speculating the payouts (when based on the # of players in attendance) here is what you need to do:
1) You need to give possible attendees a guesstimate on prize money payouts. Here is how:
a) State the % of the take that you will generally pay out. Generally it is 40-70% of the take. Higher for cash tourneys (generally 55-70) and lower for all inclusive tourneys (generally 40-55).
b) State the % breakdown of that payout: Generally it is a 60/30/10 or a 50/30/20 payout. Manytimes, if it is a tournament that is ran buy someone who offers future tourneys, then 3rd place is offered a free entry into a future tourney vice a cash cut.
From this peeps can estrapolate a payout by just doing simple math off of the guesstimated # of teams coming and the buy in.
Soooooooooo, for example:
The buy in for your tourney is $50 per team. Of that, the payouts will be 50% at a 60/30/10 breakdown (before any additional $10 side bet pool money - see below). With that said, if we get 50 teams at $50 per team, the take will be $2500. Of that, $1250 will go to the top 3 teams at a 60/30/10 payout ($750/$375/$125).
If you promote a tourney and don't state payouts (at least % payout and % breakdown wise), then you MAY lose people attending your event!
SIDE BET $$$ TO BOOST THE POT OPTION: What's that? Well, here in the STL, we wanted to boost the pot to offer more prize money. We did so by offering players to pay $10 extra (solely optional) to basically bet on yourself to place in the top 3. If you pay in that OPTIONAL $10 SIDE BET and you place in the top 3, you will get a cut of that additional $$$ (generally 60/30/10). All proceeds in the side bet pot MUST go towards prize $$$. If a top 3 placed team fails to pay into the side bet pot, then it the payouts fall down to 4th, 5th, etc. places. Recently in the STL, none of the top 3 placed teams paid into the side bet pot, but lower placed teams did. Hence, the 4th, 5th and 6th placed teams got the side bet pot $$$, since they paid into it. Needless to say, if you are a good Cornholer, then it would behoove to to pay into the side bet pot. This is a great way to boost a tourney pot when the payout pool is low.
Finally, the data above is generally based on one big tournament. If you are going to have a high bracket (competitive) and a low bracket (socials) tourney, then the data above is in regards to the high bracket portion. For low bracket players, the prize is mainly 1st place. 1st place can pay out a small cash prize or a free entry into a future tourny. Generally, if someone or a team dominates a low bracket tourney, they can't play in future low bracket tournaments by that tournament organizer. They basically graduate to the high bracket to be fair to future low bracket players.
