Proposed NFL Handicapping Contest
To address your questions.
If your strategy is to play two entries with the exact same bets, and those bankroll totals at the end of the season were the largest, yes, you would take first and second place money.
The minimum to go count is based on entries and not individuals. As long as we have 10 commitments by 8/28, others can still join through 9/6.
With LeagueSafe there are three payout rule options. One is that commissioner authorizes all payouts, the second that winning are only distributed after 51% of the league members approve the commissioners payout allocation, the third option is that all league members need to approve. We definitely need to go with one of the first two options. With the third option one unresponsive participant can hold up payment to the winners.
Winnings can either be held at LeagueSafe to pay for future league entries, or distributed by check (with a nominal fee), or to an Amazon e-giftcard (no fee). I'm not familiar with what information they will want to send a check.
Quote: MidwestAPAyecarumba - It'll be some work, but something I've wanted to try for a while. I'd been a heavy NFL 'contest' guy for a long time, it's not unusual for me to be involved in 5-8 pools and leagues each season, but this is something new (at least for me) so I'm looking forward to it and curious to see how it goes. I have the tracking system already built in excel with all the inputs, calculations, and reports built in.
To address your questions.
If your strategy is to play two entries with the exact same bets, and those bankroll totals at the end of the season were the largest, yes, you would take first and second place money.
The minimum to go count is based on entries and not individuals. As long as we have 10 commitments by 8/28, others can still join through 9/6.
With LeagueSafe there are three payout rule options. One is that commissioner authorizes all payouts, the second that winning are only distributed after 51% of the league members approve the commissioners payout allocation, the third option is that all league members need to approve. We definitely need to go with one of the first two options. With the third option one unresponsive participant can hold up payment to the winners.
Winnings can either be held at LeagueSafe to pay for future league entries, or distributed by check (with a nominal fee), or to an Amazon e-giftcard (no fee). I'm not familiar with what information they will want to send a check.
I'm a little wary of a service that offers to hold money without a cut, but if the contest goes as described, you can count me in.
Quote: AyecarumbaI'm a little wary of a service that offers to hold money without a cut, but if the contest goes as described, you can count me in.
They get to collect interest on everybody's money for the whole season. And I'm sure there are plenty of people who request a check payout.
Quote: AyecarumbaHow many entrants so far?
Thanks for checking. I'm counting eight if all the following are still going to play:
Vendman1
steeldco
JohnZimbo
GWAE
ATLiens
StrictlyAP
BeachBumBabs
Ayecarumba
If anybody is interested in a contest based on handicapping NFL games, please let me know. We need a minimum of 10 commitments by the end of the day on 8/28. The rules are posted on page 5 of this thread.
Quote: EdCollinsCount me in.
Got it, thanks.
Still looking for at least one more.
Quote: wudgedThey get to collect interest on everybody's money for the whole season. And I'm sure there are plenty of people who request a check payout.
And I'm sure that Amazon gives them a cut of the gift cards. Just like those change-collecting machines at grocery stores. You can get cash for a fee, or the full amount in an amazon gift card.
Quote: BuzzardCount me out. Personal prejudice. Hate any contest that becomes a lottery the last few weeks.
Buzz....it won't be near as much fun if you don't play. C'mon, sweetie!
Quote: MidwestAPGot it, thanks.
Still looking for at least one more.
Do we have critical mass?
Quote: AyecarumbaDo we have critical mass?
Not as of yet. The following indicated they would play:
Vendman1
steeldco
JohnZimbo
GWAE
ATLiens
StrictlyAP
BeachBumBabs
Ayecarumba
EdCollins
Deadline is still the end of the day Thursday to get to a minimum of 10. If we get 10 participants I will set up the league account on LeagueSafe and others can sign up afterwards (up until Saturday 9/6). Hopefully we can make this work!
Quote: strictlyAPWith you I count ten but I was in a red eye from Vegas maybe I miscounted
I'm just administering the contest, not playing. I would have a huge advantage knowing what selections and for what amounts other participants submitted.
I hope your trip to Vegas was profitable.
Quote: deedubbsI'll need to make sure that I understand the process, but I could be interested. I played last year and paid within minutes of officially losing. Unless people are worried about a conspiracy, I could also probably get my girlfriend to participate.
deedubbs - If you are in, that would give us the minimum number of necessary entries assuming everybody enters just once. In the rules, it's stated there can be up to two entries per participant. It is also states that the contest is limited to WOV members in good standing, but in all actuality, I wouldn't know if the selections were being made by an actual member or someone on their behalf, so it's really a difficult rule to enforce. Since the money will be collected up front, we don't really have to be concerned about trusting someone to pay afterwards.
If you want to enter, please confirm your intention, and I will get the account set up at LeagueSafe to deposit the $25 entry fee.
Anybody else interested?
Quote: MidwestAP
Anybody else interested?
Wizard? Mission? Face?
Quote: AyecarumbaWizard? Mission? Face?
who is Mission?
Quote: GWAEwho is Mission?
His name is Robert Paulson.
This sounds fun. Count me in to make it official.
Vendman1
steeldco
JohnZimbo
GWAE
ATLiens
StrictlyAP
BeachBumBabs
Ayecarumba
EdCollins
wudged
deedubbs(?) - hasn't confirmed
I will get the deposit account set up at LeagueSafe and PM you later tonight with the details to deposit the entry fee.
Of course anyone else who wants to play is welcome join up until the end of the day on 9/6.
So, I want to know if this changes the intention of anybody who was going to participate in my pool (different format than Mission's)?
Quote: Mission146I would also like to suggest that anyone who wanted to participate in this pool should either participate in this one or both. I would request that nobody leave this pool to participate in mine unless you wish to do both.
Thanks Mission, I just know we have the bare minimum threshold of 10 entries that I was willing to run with, so I want to make sure they are all still in. Of course, more are welcome!
Given comments in this thread, I have no doubt that your format will generate more interest, it's simple, and players are accustomed to it. I was just trying to do something different. Hopefully we can make both a go!
Quote: MidwestAPI was just about to send out deposit info for the contest I was proposing (I actually did for one participant, but asked him to hold off for the moment), when I saw Mission re-appear and offer to host his format again. Welcome back Mission!
So, I want to know if this changes the intention of anybody who was going to participate in my pool (different format than Mission's)?
I am still in.
Quote: BuzzardPlease do yours Mission. This one will just be a lottery the last few weeks. No skill in that !
I guess we'll find out. To mitigate this, we did cap the win limit on any particular bet and there is always the risk of busting.
No skill seems a little harsh. As several have pointed out, in addition to handicapping skill, and maybe more importantly, there is an additional bet sizing skill that is required in other type of tournaments (like blackjack).
Quote: beachbumbabsIf you're looking for confirmation, I'll do both, just to celebrate Mission's return. I also challenge Mission to sign up for this one as well.
I mainly threw $25 out there in my pool for the sake of tradition and that it's not that much money. Given my current financial state of affairs, any negative expectation gambling in excess of my monthly $5 at the parlor is irresponsible, and therefore, I respectfully decline to participate in this contest.
