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OK summing it all up...

Posted By: Chuck Bower
Date: Monday, 9 February 2009, at 7:41 p.m.

In Response To: OK summing it all up... (neilkaz)

I don't see the reduced entry fee as a "rebate". You still pay the hotel the full rate for the room. You pay a $70 Reg. fee which goes into the Directors' account (yes, it pays for things like trophies and advertising, etc.) You put $330 into the prize pool, all of which gets returned to the players who cash. If everyone (not likely) takes the 3-night package then everyone pays the same as you into the prize pool ($330). Those who don't pay the extra $129+tax for the extra night must pay an extra $100 into the prize pool.

Let's say 64 players enter the open and 3/4 of them take the room package and 1/4 don't. That's 48*$330 + 16*$430 = $15,840 + $6880 = $22,720 or an equity (assuming all players are equal in performance :) of $22,720/64 = $355 per player. Now toss in the reg. fee and the return for the players staying the extra night is $355/$400 = 88.75%. Those who didn't pay for the extra night get $355/$500 = 71% return. (That's to be compared with 86% expected return for each entrant if no one takes the room deal and 82.5% each if everyone stays three nights.)

Now if you were going to stay exactly 2 nights, you pay $129+tax for the third night to save $100. Of course if you decide to stay the third night then you might also come early enough to play some extra events (which get raked independently of the reg. fee).

There is a potential tradeoff here: do the extra room nights (from those players who were only going to stay two nights but then decide to stay the third) offset the players who were going to attend the tournament but then decide the payoff isn't worth it and stay home? I think that is what UBK was getting at -- local players who would have gotten a break by getting to sleep at home (well, Richard's experience in NYC contradicts a literal interpretation :) aren't getting as much of a break as they might have if the extra-night offer weren't in effect.

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