Online V-Card Intent to Play Tournament

[Farmer Bob]

Just some notes:

The general total cost of the tournament is looking to be 40$ (awaiting confirmation).

Currently 10 players are signed up for the tournament; that means as is right now; each player would be only paying 4$ at the chance to win a V-card design.

And each new player that signs up only further lowers that cost.

[Farmer Bob]

Updated the registration and tournament rules.

[AnakinSolo]

if DDM is going to play, count me in.

MaVanDriel here
OldAnticuchos on HT

[stealtheblind]

i'm in. stealtheblind here, shaw67193 on ht

[Farmer Bob]

Updated.


Up to 12 players. 4 to go to reach minimum.

Currently; for 12 players - the cost per player would be: 3.333$

[mr007agent]

Updated.


Up to 12 players. 4 to go to reach minimum.

Currently; for 12 players - the cost per player would be: 3.333$

I don't think Paypal is set up to give a third of a penny. I might have some stamps or something... Don't forget about paypal fees either.

[Farmer Bob]

Any idea how paypal fees work?

[mr007agent]

Any idea how paypal fees work?

I do not, it is some percentage. I bet Scott Church knows the breakdown.

[Farmer Bob]

I'll have to check into this; because I believe that was the trouble Pat was trying to cause the PC by donating a penny at a time or whatever.

[AnakinSolo]

Especially with the paypal fees being a consideration, anyone from CO who wants to enter this should PM me and i will paypal for them and then get the 2-3 bucks at our next tournament (aka Denom/queso/tom)

[Farmer Bob]

Yea it might be a better idea to do group transfers if the case of PayPal fees makes it a bit too ridiculous/cumbersome to do.

[mr007agent]

Yea it might be a better idea to do group transfers if the case of PayPal fees makes it a bit too ridiculous/cumbersome to do.

Just a suggestion. One person could register for you and then you know how much they are going to take out and then you charge everyone else the amount plus the fee. You wouldn't have to eat more than 50 cents prolly.

OR you send money to someone you know, record the fee and then cancel the transaction and get the money back. There isn't a fee to do that.

[DarkBro]

Any idea how paypal fees work?

Assuming that the payment is made as a "purchase" of goods/services, the fee is 2.9% of the payment + $0.30 USD.

If the transaction is setup as a "personal transfer," then there is no fee if the money is coming from a Paypal balance or a bank account. However, if the payment is coming from a credit or debit card, then the fee is 2.9% of the payment + $0.30 USD. [SOURCE]

I'm guessing you have to tag the payment of the entry fee for the tourney as a "purchase." So when you've worked out the cost of prize support divided by the number of participants, just multiply that by 1.029 and add $0.30, and voila, you've got the entry fee.

[Farmer Bob]

40$ / x*1.029 + .30

?

[DarkBro]

(40/x*1.029+0.3)^1

That should do it for you.

[AnakinSolo]

that would be 40*1.029/x+.30x

[Farmer Bob]

that would be 40*1.029/x+.30x

Okey dokey; time to start constructing the Excel file.

[DarkBro]

that would be 40*1.029/x+.30x

Okey dokey; time to start constructing the Excel file.

I'm sorry, but I really don't think that Mark's formula is correct (and I also apologize for the superfluous exponential on my formula, I was just being cheeky). The "+.30x" part should just be "+.30" because Paypal charges 30 cents on each transaction (the way Mark has it, you're adding way more to the entry fee than you should).

Let's say there's 16 entrants, so x = 16. With your original equation FB, the entry fee ends up being 2.8725 (so $2.88 overall). Using Mark's equation, it becomes 7.3725 (so $7.38), which is way too high.

I know Mark's trying to help, but I just wanted to make sure you weren't using the wrong formula and over-charging for the tourney.

[Farmer Bob]

So; its an easy break-down:

40 / x
x = Number of Players

x * 1.029
+.30 per player


Correct?

So, 20 players. 40 / 20 = 2.
2 x 1.029 = 2.058
And then +.30 per player

Each player is then paying:
2.358; rounding to be 2.36$

Am I correct?

[DarkBro]

Yeah, you're correct. Sorry that this became an ordeal.