We have a Monday night 9-ball money league in my local spot but we don't handicap it so I can't help you there... but I'll explain what we do.
The only limitation on participants is the monsters of the area are excluded... which is likely a non-issue cuz it really isn't worth their time. As a result of the exclusion of the monsters we get a fairly even blend of talent... I'd say, from a (local) B+ to a (local) C+.
We form teams... three persons per... and stats are kept for teams... but there's no team payout... just individual payouts.
Each person plays each of the three persons of the other team a total of three games each. Each win yields $1.00, paid out at the end of the session. Weekly dues are $10.00. Win all nine of your games out get back $9.00 for the night. Also, each person kicks in $20 each session. We play two sessions a year.
The sessions last 14 weeks. We have 14 teams... for a total of 42 players. Each team plays each other team once. The last week, we play our teammates... so, in effect, the whole session becomes a round-robin... everybody plays everybody else the same number of games. On the last night, each win gets you $1.50, since you only play 6 games total (3 against each of your two teammates).
And with the leftover money at the end of the session we have a 2-day double elimination singles tournament where even those who go out-out win cash. IIRC, the total payout at the end of the session was almost $5000.
And there is a payout for the Top Ten shooters as well.
IMO, the single point of why this league is prospering is the somewhat even level of competition. Any league will always have its top player(s) and the bottom one(s) as well... but the closer they are in skill level, the better everybody feels at the end of the session.
FWIW.
