Boy, I'm giving all kinds of previews for next year.... Anyway, this is currently the proposed format I have set. It's what I have on the new site, however it may be changed. I was going to wait until the end of the year when I send surveys out to all members, however I'd like to get some feedback now on this particular matter:
THE MONEY PIT
The Money Pit is a separate competition between league members who wish to wager for money. Enrollment is not required to play in the Lucky Dog Racing League.
Money Pit Rules
There will be 2 segments during the season. The entrance fee for each segment is $25. If you wish to play the All-Star Cash Challenge, the fee is $5. You can pay the whole $55 for the year up front, or before each segment. Segment One will start with the Daytona 500 on February 20, 2004. It will end with the Pepsi 400 on July 2, 2004. Payouts will be sent out for segment one that following week.
The points will reset back to 0 and start again for Segment 2. Segment 2 will start with the Chicagoland Race on July 10th and end with the HomeStead-Miami race at the end of the season. Payouts for Segment 2 will be sent out that following week.
The points that you receive from your driver picks will be your money points. Any bonus points that you receive will not count, only driver points. The All-Star race will not be counted, only regular races.
Payout Percentages
The payout percentages will be:
Winner: Receives 50% of the total pot
2nd place: Receives 25% of the total pot
3rd place: Receives 15% of the total pot
10% will go for league operating costs.
The more people that join, the larger the pot will be. If 15 people join, the payout for segment one will be $375.00. $187.50 will go to the winner, $93.75 will go to 2nd place, and $56.25 will go to 3rd place. $37.50 will go for league operating costs.
All-Star Cash Challenge
In addition to the money pit, each year for the All-Star Challenge, you can have the option of playing for cash. The fee is $5.00. You will follow the rules of the Lucky Dog All-Star Challenge. There will only be one winner for this event, the winner receiving the entire pot. There must be at least 5 people signed up for this event to take place.
Rules For Entering The Money Pit or Cash Challenge
1. You must be 18 or over to play.
2. Payment must be received in full before each event.
3. THERE ARE NO REFUNDS. If you leave the league or are kicked out, you will not receive a refund of your money.
A few weeks ago I received feedback from one member stating that there should be one overall winner for the whole season. While it would be nice, I think that would make it difficult for new members who join after the season has started already. If there are 2 segments, people can wait until later in the year to join the new segment instead of coming from behind the whole year. Remember, its a long season. It would kind of suck to wait a whole year to get any kind of reward. So, any feedback I get would be helpful in fine tuning this format. Different entrance fees, or if you have a new idea for the format, please share.
I did think of this to give to the champion at the end of the season....
The Champion Fund
The Champion Fund will be additional money that will go to the champion at the end of the season (Or the highest finisher in the money league, if the champion is not playing for money). The champion fund must be paid at the start of the season, or as soon as you join the league. The champion fund is $10 per person. If you choose not to pay the $10 at the start of the season, you will be inelligble to receive the championship fund winnings if you are the champion. The winnings would then go to the next highest finisher who paid the champion fund.
Therefore, the total amount would be $65 for the year if you want to play both segment, the All-Star Cash Challenge and participate in the champion fund.
thats right, i had questions...but you answered them by the end of the post....although at first i thought the two segments should get divided at the start of the 'Chase for the Championship', i think your way is better....dividing right after the second Daytona race is just about right.....as far as the 'Champion Fund', come on guys...i cut down the money tree last week, and its not gonna grow back for awhile!
seriously, im all for playing for money and of course winning it, but the more you pay out, the riskier it gets.....ok, so im a poor broke down wuss....but im frugal! yeh thats it!
