Ok, so what you are saying is only half of the money is going to the prize pot?
This is a fundraiser. Even though this is a SF4 tournament, please keep in mind this is fundraiser for our organization. So, compared to normal tournaments the payout will not be as significant, but there is going to be comparable incentives to the top placers.
Nobody is concerned as to if it is a fundraiser or not. People just would like to know where the money is going and how much is going where. If you could give specific details on how much money is going to the pot it would be heavily appreciated by everyone. Thank you in advanced for stating how much money is going to the prize pot.
For example.
32 people go and all of them are preregistered. That would be $480 total prize pool.
Typical tournaments with your breakdown would pay $240 + stick to 1st place. However, you seem to keep mentioning it is a fundraiser. We are all aware of this. This question we want to know is what portion of the $15 is going to the prize pool and how much is going to your fundraiser.
Knowing this will certainly make a difference in the turn out. If you are gunna do $10 to prize pool and $5 to fundraiser it would turn into a $320 prize pool with $160 + stick to 1st place. So to clarify, we just want to know how much of the $15 will go to the prize pool and what will be taken away. Many places do venue fee so it’s not so uncommon, but it is important to know exactly how much is going away.
“It’s going to be split pretty much in half. But there will be a significant portion given to the top placers. We’re projecting a sizable attendance and the prize money is determined by the amount of entrants. The stick itself is also valued due to its rarity”
hahaha.
he’s basically saying if 30 people show up, they’ll take all the money.
if 1000 people show up, they’ll only take half.
gg.
Everyone in this thread is aware that this event is a fundraiser, however, the lingering question of how much money will be profited or raised has been consistently avoided. If you provided that detail, I don’t think people would be questioning the event too much.
You guys are a business fraternity, shouldn’t you have been very concise with the event details in your first post?
It’s like me trying to do a start up casino-condominium project without a pro-forma or executive summary. All I can say is it’s a casino-condominium and I want investors to lend me “X” amount of money in order to pursue the project. And then the investors asks me for further details and I’d respond with, “I can’t provide you any numbers, but I can tell you it’s a casino-condominium that is very profitable and you’ll make a 15% ROI.”
… seriously?
If this hasn’t been posted yet, I’m fairly certain the business frat is AKPSI aka Alpha Kappa Psi
I got an event invitation on facebook
Damn, Crack hella spittin out some knowledge!
Jeff, what time you gonna be on campus today for? I was thinking about hitting up the SU today for some games while my roommates go to class
Oh well, if they’re gunna be shady with the info, everyone might as well goto the San Rafael tourny.
hey crack dont forget to calculate the margin as well as the turnover to get the ROI. HAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
that is all.
Nima,
The project is a hotel-condominium. It will make a lot of money, and you’ll get a 15% ROI.
I apologize for being too vague and sorry for the late response.
The reason why we didn’t want to give out specific figures was because the prize pot is determined by the amount of entrants. We just didn’t want to give out a number that would deter people. I assumed the percentages were sufficient but let me try and clarify your suspicions, we’re not trying to keep people in the dark.
Using your proposed entrants, if there are 32 people entering at $15 pre-registration that nets $480. Half of the net will be donated to the organization and the other half will be split amongst the top 3 winners. The 1st place will receive the stick + 50% of the prize pot (50% x 240 = $120). We also value the stick roughly at $170, so in actuality the top prize winner receives $250. The 2nd place will receive 30% of the prize pot (30% x 240 = $72). And the 3rd place will receive 20% of the prize pot (20% x 240 = $48).
This is an example of how the tournament winnings will be allocated. A rough example. Now we are projecting more people to attend, so the greater the number of course the winnings will be higher.
I really am sorry for the confusion and this was meant as no disrespect. I hope this clears things up but if you have any other questions, please don’t hesitate.
Thanks again and I hope you can have the time to come out and support us.
Sjsu, who are you from akpsi? Also, 50% of the pot is going to you guys? Sorry but that’s a pretty huge cut IMO.
The majority of entrants aren’t going to care for a TE stick as a prize since pretty much all of us already have a stick. Anyone agree with me?
How about you keep your stick or well it on craigslist and only take out $5 of the $15 so it’s only a 33% cut instead of 50%. If you’re taking 50% and then 1st place gets paid out that 50% it’s essentially only a 25% payout. Get what I mean?
Also, by that method…2nd and 3rd place gets screwed over the most because 2nd place becomes a 15% payout and 3rd place gets a 10%.
by that system, you would have to beat out 29/32 players just to double your money and get 3rd place :rolleyes:
They updated their first post it’s Stick + 50% for first place
2nd 30%
3rd 20%
I understand that, but the tournament prize would be better if they didn’t include the stick at all. There’s no point in “valuing” the stick at anything when people don’t even want a TE stick as the prize
I’d much rather have a higher pot prize than a Femme Fatale stick. By giving 1st place a Prize + Pot money, you’re pretty much screwing over 2nd place and 3rd place. It would be much better for everyone at the tournament if you had nothing but cash prizes
Payout =
1st place: 25% of total pot + TE stick
2nd place: 15% of total pot + no prize
3rd place: 10% of total pot
I’m aware that they changed the post to say 1st place is 50%, but you have to figure in the cut they’re taking out of it which is another 50%
50% x 50% = 25%
I see what you mean, I just assumed whatever pot they didn’t take was for their cause, and yeah it does gimp 2nd and 3rd. Just better win then!
Stop being so Vietnamese Nam, I’m getting a headache looking at all those numbers, sheesh!
**Willpower is throwing in $200 **
Okay I have some very good news for you all. A good friend of ours from the Tekken community who goes by the handle “Willpower” is donating $200 to the top three placers. He asked us to divide his donations 1st. 70% 2nd. 20% 3rd. 10% of his donation.
This is guaranteed prize money in addition to the limited edition SF4 stick and money that we are throwing in for the fundraiser.
I hope this gives more people incentive to attend our event.