Danny Smith won $1500 minus $160

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kkdanamatt

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5th-6th place Banks at DCC pays out $1500 minus $160

503 entrants.
5th-6th place in the DCC Banks prize money was $1500 less $110 entry fee, less $50 buy-back: net gain $1340.
 
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kkdanamatt said:
Speaking to Danny Smith last night about his 5th place finish in the DCC Banks out of 503 entrants. Danny's prize money was $1500 less $110 entry fee, less $50 buy-back:
net gain $1340, less expenses and whatever tax, if any, has to be paid to the IRS.
Click to expand...
Just wondering: we need to know all that, why?? You work for the IRS??
 
DCC prize money is very heavily weighted to the winner.
Anybody else who finishes in the money receives very little.
 
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Nobody thinks they make too much.

Very few people get to play for money.

That's what the gig pays and he chose to participate.

I wish I made more money too, and I am about to send a $65k check for deposit into my employers account.
 
T-Town Boy REPRESENT!

He knows how to play and how to dress.

To bad I see people in jeans and a t-shirt. << Yup, I think people should dress like they want to be taken seriously! I don't care how good a player is, there is more to being a professional than just playing good. Sponsors think so to.

Trent from Toledo
 
Black-Balled said:
Nobody thinks they make too much.

Very few people get to play for money.

That's what the gig pays and he chose to participate.

I wish I made more money too, and I am about to send a $65k check for deposit into my employers account.
Click to expand...

I'm way overpaid. But I still don't think it's enough.
 
kkdanamatt said:
Danny was unhappy with the payout.
How would you feel if you were in his shoes?
I don't care about the IRS, but I do feel for the players who finish high up and don't get enough prize money for their efforts.
DCC prize money is very heavily weighted to the winner.
Anybody else who finishes in the money receives very little.
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Should have put the "wink" on as i was just kidding. It is a top-heavy payout. DS needs to go talk to Greg or whoever runs the show about it. May not amount to much but it can't hurt.
 
Number make sense... kind of;

Not counting buy-backs, the purse is 503*$110 = $55,330

Last years payouts show $23k was payed out over the top 8.

Pay went down to 86th place, so $32,000/78 = $410 average

86 is less that 1/4 of the field (which is normal to pay)

It is just hard to divide the money up that thin.

The issue is the payouts are not top heavy, but field thin.

One example, coming 6th only payed twice what tied for 14-22 payed.
 
eastcoast_chris said:
Number make sense... kind of;

Not counting buy-backs, the purse is 503*$110 = $55,330

Last years payouts show $23k was payed out over the top 8.

Pay went down to 86th place, so $32,000/78 = $410 average

86 is less that 1/4 of the field (which is normal to pay)

It is just hard to divide the money up that thin.

The issue is the payouts are not top heavy, but field thin.

One example, coming 6th only payed twice what tied for 14-22 payed.
Click to expand...
I don't see how you can have a discussion with entry fee data that doesn't include buy backs.

And I also don't hear anybody speaking up for the guys that don't finish in the money.

No matter how bad you got it, somebody's got it worse.
 
Black-Balled said:
I don't see how you can have a discussion with entry fee data that doesn't include buy backs.

And I also don't hear anybody speaking up for the guys that don't finish in the money.

No matter how bad you got it, somebody's got it worse.
Click to expand...

Did Danny want you to get on AZBilliards and share how dissatisfied he was with the payout with the whole world?
 
payouts

I won 5 matches which brought me to round 7. I didn't pay attention to the place I finished in but I'm assuming top 50ish in a field of 500. I won $300 back which means my net profit was $140.

I played around with some numbers and came up with a payout grid below. I have no idea how the places work out with the weird 'buyback' format, but using a standard double elimination structure it seems that the payouts could've been a bit more. Below is what I would expect to see based on the field size and the entry fees. This would be 100% payout but no money added. I think with over 500 entrants and 50% rebuys this is pretty close.

Now I want to be clear that I'm not complaining. I work for a living and don't expect to make money from pool. It's my choice to come, and I do so to test my skills even knowing it will likely cost me money to do so. DCC can run their tournaments however they want, they aren't forcing anyone to play. I didn't do any research before coming because it probably wouldn't have changed anything for me. I'm sure DCC has tremendous expenses and there are more economics at play than I understand. I'm not saying I could run a better event. I was just a bit surprised and it sounds like I wasn't the only one.

I think this is just a good reminder of the state of pool. You'd better either be the best in the world or treat it as a hobby.

Place Payout
1 10000
2 7500
3 5000
4 4000
5-6 3000
7-8 2500
9-12 2000
13-16 1500
17-24 1200
25-33 1000
34-48 800
49-64 600
65-96 400
Total 77800
 
Tin Man said:
I won 5 matches which brought me to round 7. I didn't pay attention to the place I finished in but I'm assuming top 50ish in a field of 500. I won $300 back which means my net profit was $140.

I played around with some numbers and came up with a payout grid below. I have no idea how the places work out with the weird 'buyback' format, but using a standard double elimination structure it seems that the payouts could've been a bit more. Below is what I would expect to see based on the field size and the entry fees. This would be 100% payout but no money added. I think with over 500 entrants and 50% rebuys this is pretty close.

Now I want to be clear that I'm not complaining. I work for a living and don't expect to make money from pool. It's my choice to come, and I do so to test my skills even knowing it will likely cost me money to do so. DCC can run their tournaments however they want, they aren't forcing anyone to play. I didn't do any research before coming because it probably wouldn't have changed anything for me. I'm sure DCC has tremendous expenses and there are more economics at play than I understand. I'm not saying I could run a better event. I was just a bit surprised and it sounds like I wasn't the only one.

I think this is just a good reminder of the state of pool. You'd better either be the best in the world or treat it as a hobby.

Place Payout
1 10000
2 7500
3 5000
4 4000
5-6 3000
7-8 2500
9-12 2000
13-16 1500
17-24 1200
25-33 1000
34-48 800
49-64 600
65-96 400
Total 77800
Click to expand...

Nice job Tin Man. You definitely have a great deal of heart considering the depth of that field.
 
you can deduct all related expenses if you play professionally. so no irs bill.

they have to weight it near the top for payouts as there is so little prize fund it wouldn't attract many if spread down as people look at the big payout..

if the players want big payouts they need to have big entry fees, simple as that.
 
eastcoast_chris said:
Number make sense... kind of;

Not counting buy-backs, the purse is 503*$110 = $55,330

Last years payouts show $23k was payed out over the top 8.

Pay went down to 86th place, so $32,000/78 = $410 average

86 is less that 1/4 of the field (which is normal to pay)

It is just hard to divide the money up that thin.

The issue is the payouts are not top heavy, but field thin.

One example, coming 6th only payed twice what tied for 14-22 payed.
Click to expand...

Too bad they can't get a bigger entry fee per player...or some kind of side pot. There's just no big money in pool
 
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I got to meet Danny back in December, pretty cool young man or at least he was to me. I wish him luck!
 
Sorry I did not read everything... but the buyback money goes towards master of the table. Just FYI when trying to do the math.
 
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