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#11
08-15-2005, 09:51 PM
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Re: Hosed on Pacific 200K
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[ QUOTE ] [ QUOTE ] how much did everyone gget back in profit? [/ QUOTE ] About 85. [/ QUOTE ] 237-165 = 72 [/ QUOTE ] I recieved an Email that if I played for a 2nd consecutive week, they would credit me an additional $15. Did anyone else get that email? I blew it away. 
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#13
08-15-2005, 10:52 PM
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Re: Hosed on Pacific 200K
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I recieved an Email that if I played for a 2nd consecutive week, they would credit me an additional $15. Did anyone else get that email? I blew it away. [/ QUOTE ] Yeah, I got that too; the offer was to enter without paying the fee. They said they would refund you the $15 fee afterwards. Of course, since we're essentially getting the fee refunded anyway (along with the buyin and the extra $72) I think it's pretty much void now. [ QUOTE ] They gave us the fee as well. So 222+15 is 237 And since I won my way in through a 1.10 sat, I made out pretty well. Wooohooo! [/ QUOTE ] Congrats, and I think you figured out their error. For one, they counted 899 entries instead of 900 (I'm guessing one player DID bust out before the crash). That would make the seat value $222.47 (.46 if you round down) instead of $222.22, eactly $15 short of what we were paid. When a tournament has a guarantee, I treat the fees as being part of the prize pool until there's a reason not too, apparently pacific does not. Example, for the $150+15 with 200k guarantee: Greater than 1334 entries: the guarantee is irrelevant Between 1213 and 1334 entries: the overlay is a partial fee rebate Less than 1213 entries: overlay is full fee rebate plus cash If there were 1300 entries the overlay would be 26% of the fees, making it essentially a "$153.85+$11.15" And for 899 entries the overlay is 100% of fees, plus $51,665, making it a $165+0 with 51k added. So pacific has a more generous idea of what an overlay is, and thinks they need to make up the difference between the guarantee and buyins only, treating the fees as something magically seperate, thus screwing themselves out of another 13k. It's funny, last week they randomly added $50,000 to the prize pool without explanation (250k instead of 200k) taking a net loss of $73,615. This week they give away the overlay plus an extra $15 per seat for a net loss of $65,141.54, when they could easily have gotten away with a normal refund; and this along with the negative PR of botching their tournament. And on top of that, their 100k guaranteed on sundays almost always has an overlay of $20,000 or so. It's disgusting they're making enough money to throw it away like this and still be profitable. A shame they don't use the cash to hire some competent software engineers instead.
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#16
08-16-2005, 01:17 PM
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Re: 50k freeroll
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Yeah, first we get the overlay and now we get to play in a 50k freeroll. I'll take it. Looks like Pacific is taking over a 100k hit to do all this. Sick the amount of money they have to be able to do stuff like this. [/ QUOTE ] Heavy revenue from OL Casino.
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