AT A FEE OF $ 150.00 ONLY, PER TEAM WHAT WOULD 1ST PLACE GET BACK IF
50 BOATS
100% PAYBACK
DOES NOT INCLUDE BIG FISH
HOW DO YOU CALCULATE IT
TOURNAMENT PAYBACK
Re: TOURNAMENT PAYBACK
Well Jigsy, that depends...is that 100% payback after (or before) you pay all your expenses?
A normal tournament has Lake Permit Fees, Staffing Costs, Equipment Rental/Purchase, etc...
Plus you have to figure what you want all the places to recieve (you can top load the amount so that first place gets a LOT and 2nd, 3rd, 4th, 5th get less...or....1st not get so much and the other places recieve more).
And....are you going to need to rent a release boat? Are you going to have a bbq associated? is that cost coming out of the entry fee?
Do you plan on doing any advertising (printing costs, etc). Do you have sponsors to kick any prize money? That will affect how much you can pay out.
There are a ton of variables associated with payouts. If you can answer all of those questions, THEN you can get a better idea of what kind of payout you can offer.
Greg H.
A normal tournament has Lake Permit Fees, Staffing Costs, Equipment Rental/Purchase, etc...
Plus you have to figure what you want all the places to recieve (you can top load the amount so that first place gets a LOT and 2nd, 3rd, 4th, 5th get less...or....1st not get so much and the other places recieve more).
And....are you going to need to rent a release boat? Are you going to have a bbq associated? is that cost coming out of the entry fee?
Do you plan on doing any advertising (printing costs, etc). Do you have sponsors to kick any prize money? That will affect how much you can pay out.
There are a ton of variables associated with payouts. If you can answer all of those questions, THEN you can get a better idea of what kind of payout you can offer.
Greg H.
Re: TOURNAMENT PAYBACK
Jigs - with 100% payback, assuming all of your other expenses are paid, it is quite simple to calculate a 1 in 5 payback. Here is what I came up with for $7500 in prize money and paying back 10 places.
1 - 2250
2 - 1500
3 - 750
4 - 650
5 - 560
6 - 480
7 - 410
8 - 350
9 - 300
10 - 250
This payback spreads the wealth over the 10 spots, where even 10th place gets a little more than their entry. You can choose to topload a payback or spread it out even more, that is entirely up to you. In the scenario I have listed, the top half of the payback gets 76% of the available $$$.
1 - 2250
2 - 1500
3 - 750
4 - 650
5 - 560
6 - 480
7 - 410
8 - 350
9 - 300
10 - 250
This payback spreads the wealth over the 10 spots, where even 10th place gets a little more than their entry. You can choose to topload a payback or spread it out even more, that is entirely up to you. In the scenario I have listed, the top half of the payback gets 76% of the available $$$.
Re: TOURNAMENT PAYBACK
OK THANKS;
WE HELD A TOURNAMENT YOU MAY REMEMBER BACK IN 2005 AND HAD 24 BOATS SHOW UP. IT WAS $ 150.00 ENTRY WHICH INCLUDED BIG FISH AND A SEPERATE $ 50.00 OPTION
1ST PLACE GOT OVER $ 2000 THEY HAD 2ND BIG FISH AND WERE 1ST IN THE OPTION WE THOUGHT FOR ONLY 24 BOATS PLUS $ 2000 WORTH OF FREE RAFFLE PRIZES AND FREE FOOD THAT WAS PRETTY GOOD....................WE TRIED IT AGAIN IN 2006 BUT NOBODY WANTED TO ENTER IT SEEMED. TRIED AGAIN LAST SPRING WITH A 2 DAYER.AGAIN NO ONE WOULD COMMIT..........WAS JUST CURIOUS
THANK ALL
JIGS (RETIRING FEB 2008)!!!!
WE HELD A TOURNAMENT YOU MAY REMEMBER BACK IN 2005 AND HAD 24 BOATS SHOW UP. IT WAS $ 150.00 ENTRY WHICH INCLUDED BIG FISH AND A SEPERATE $ 50.00 OPTION
1ST PLACE GOT OVER $ 2000 THEY HAD 2ND BIG FISH AND WERE 1ST IN THE OPTION WE THOUGHT FOR ONLY 24 BOATS PLUS $ 2000 WORTH OF FREE RAFFLE PRIZES AND FREE FOOD THAT WAS PRETTY GOOD....................WE TRIED IT AGAIN IN 2006 BUT NOBODY WANTED TO ENTER IT SEEMED. TRIED AGAIN LAST SPRING WITH A 2 DAYER.AGAIN NO ONE WOULD COMMIT..........WAS JUST CURIOUS
THANK ALL
JIGS (RETIRING FEB 2008)!!!!
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