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Either way cards to tough, so it's NO-GO and hope for a rollover.
No need to prep spreadsheets Roger and NAP's will go back to one selection from one of the Jackpot races.
Cheers,
G
To do a perm covering 60% of betting market in each leg. Perm cost /> £60K, out of our bankroll. :=)
A £500 perm would give us a less than 0.1% chance imo.
For further info, feel free to read the thread below as to how I work out the betting percentage covered.
https://www.skypoker.com/secure/poker/sky_lobby?action=show_static&page=poker_community_forums&plckForumPage=ForumDiscussion&plckDiscussionId=Cat%3ae0fe4c56-4826-4c14-a350-298f784f4e3dForum%3a902ab96e-b209-4e97-96a2-98a6b9a864a8Discussion%3aa18b8047-a54d-49c9-a0b7-cfa14ecfeb34
just like big value I suppose £650000 for 400 appears better than £400 for 10-20k
Have a feeling pot wont go so might be an option when /if it gets an easier week LOL
shouldn't have mentioned anything just saw £650000 and thought good idea but when I looked at fields I realised it was a no go. you would have to be extremely lucky to get it. However if it gets into the millions with smaller fields it might be worth looking at.
Not suggesting we do for the place part just it does help to get money back if youjust miss out. When the Scoop 6 syndicate was going, with not so much money/ imput/expertise as we are in this we twice got five out of six and got quite a few place dividends over the time it ran. So agree with comments above but would suggest it not ruled out completelyin exceptional circumstances.
Although more likely to get a slightly easier card with the Friday Scoop 6 than the Saturday one. (Tomorrow is ultra tough mind)
Hi Graham,
I acknowledge and accept your comments in the above post (and your reply to Bearace), but I still have a problem in terms of share value and new members:-
· We are targeting 500 shares, ie 500 at par value £5 = £2500 per month member subscriptions.
· Currently we have 185 shares issued at par value £5 generating £925 per month member subscriptions.
· We are, therefore, seeking to increase the shareholding by 315 shares from new (or existing) members.
· Taking your example above, where the share value is say £10 and this is prior to member subscriptions of £5 per share on 24th of the month, The share value for new members joining on say 26th of the month would be £15, which I believe is too high to get many takers.
· You are unlikely to place jackpot bets any greater than the monthly subscription value in any one month, this would probably be unwise anyway.
· I believe that it would be reasonable to declare a dividend equal to the value of the available funds as at the 23rd of each month and accrue this for future payment to individual shareholders. This is relatively simple to record and something I would be happy to do.
· This would achieve two things:-
o Identify a level of return for current shareholders, they know they have something in the bag.
o Make the “buy in” for new members far more acceptable as it will be close to the £5 par value and, therefore, make the target shareholding of 500 more realistically achievable.
As shown by the number of posts on this thread, there has been much interest in this process and I think it would be a shame to put off potential new members with a “buy in” level which may be perceived as too high.
Just my thoughts.
Cheers
Gordon
I take your points.
Can we keep to my suggestion for this month please, and we will see how it pans out in practice.
If people feel it's not working out then, I will consider changing it.
I have thought about it a lot, and have a clear understanding in my own mind.
As always, I am happy to listen to other's thoughts, but lets just give it a go as I originally planned it first, and if people are not happy with it we can change.
Regarding the 500 shares. It's not so much a target as a cap. Although it probably is the optimal amount.
PEOPLE CAN REQUEST ADDITIONAL SHARES AND/OR NEW MEMBERS JOIN ON 26TH MAY 2107
(Please do not post requests before)
On 25th MAY (Once I receive the standard payments) I will post details surrounding the process for new share requests.
I will do this as I have always planned for now, and if people are still not happy with how it fits together, then we can consider changing it in subsequent months to something in line with Dollie's suggestion.
I ensure you that the process will keep the share value static for existing members, so they will not lose out. I understand the rationale behind your proposal Dollie, however I want to keep it simple if possible. As time progresses, I think new members/share changes will occur less, especially if we reach the 500, at which point it will be a closed shop unless someone leaves.
If the initial share value is not too high, it could be a mute point.
Cheers,
G
Surely only new members come in at the start of each month. So keep winnings for each month separate and only to be spent if we want to go for a jackpot in a month when we have run out of the share money. The money left at end of month from the winnings and monthly share money is that months dividend. £5 parts of that go to extre share(s) and rest to cash, only to be paid out three monthly or when someone leaves.
My Example ME today I think
I have one share £5 and at mo my share of winnings (I think) is £6.62 and to make it easier (as I cant remember the money we have left for may) say my left over money if we do nothing more in May is £3.38; at start of June my situation will be
I will have three shares, my June payment plus the two shares our good work in May has given me .
Others at the start of June might have 50 shares and some May cash.
so on and so on.
Every Six months the £5 dividends can be paid out if it means we are getting too much in the bankroll ie 3000 shares at £5
come November(heres hoping)
This means new members shares will always be £5 and the rest of us for that matter , should give us a nice rolling bank and also allow cash to be paid to people quarterly as we go along. Meaning less work for Graham paying out.
SORRY GRAHAM DOING THIS BEFORE YOUR ANSWER ABOVE BUT HOPE IT STILL HELPFUL
Yes new members do only come in at the start of the month. (but I need a few days to confirm/receive their payments)
All will be explained on 25th May. (I am waiting until 25th May, so I can confirm all regular payments have been received and we have a verified share value, before explaining the process)
Please let me do the process the way I have planned for the first month. See how it works and then we can re-assess.
So can we please close this discussion topic until then. After that, I promise I will listen fully, but just give me a chance to show you how it pans out in practice.
It's just the questions being asked will hopefully all become clear at the time.
Cheers,
G
Follow the thread below to keep up-to-date:
https://www.skypoker.com/secure/poker/sky_lobby?action=show_static&page=poker_community_forums&plckForumPage=ForumDiscussion&plckDiscussionId=Cat%3ae0fe4c56-4826-4c14-a350-298f784f4e3dForum%3a902ab96e-b209-4e97-96a2-98a6b9a864a8Discussion%3a3a8b495e-da3a-421a-ad71-13d2b855486b
Cheers,
G
First Race 2.00pm.
Final Selections and receipts will be available shortly before then, on the thread in the post above.
Cheers,
G
Opening post ledger etc. has been updated.
Share value is now £3.71
Cheers,
G
As there is a carry over I will take a cursory glance at tomorrow's potential Jackpot card.
Cheers,
G
Cheers,
G
Regarding hedging this post by bearace makes perfect sense to me.