A friend asked me to get into a $500 (per) Super Bowl SQUARE

[edjr 6,429]

My friend is not the one running the pool.

I didn't think anything of it, so I paid my $500 and entered.

Just got an email saying that the total being paid out was 45k.

I emailed back and said why 45k and not 50k?

Quote

 

Hi Ed, 

 

Very simply put..  we take the $5K off the top to run the pool. It’s not easy trust me. Or everyone would do it. 

We come collect money if needed and we pay out winners the very next day. Not a week later like other pools I need not mention names. 

 

My reply. "Please give me my money back. You can venmo or pay in person. Whichever is easiest for you"

 

[supermike80 1,660]

Just now, edjr said:

My friend is not the one running the pool.

I didn't think anything of it, so I paid my $500 and entered.

Just got an email saying that the total being paid out was 45k.

I emailed back and said why 45k and not 50k?

My reply. "Please give me my money back. You can venmo or pay in person. Whichever is easiest for you"

 

Agreed.  I'm Ok with the guy running the pool getting his entry fee paid.  But 5K?  Give me a break

[DonS 3,288]

Speaking of super bowl SQUARES @edjr... 

Are you going to bring it back for this year?  I'll give you an extra $1 as a handling fee. 

[lickin_starfish 1,832]

Where I'm from, most winners tip the pool operator.

[Alias Detective 1,345]

7 minutes ago, edjr said:

My friend is not the one running the pool.

I didn't think anything of it, so I paid my $500 and entered.

Just got an email saying that the total being paid out was 45k.

I emailed back and said why 45k and not 50k?

My reply. "Please give me my money back. You can venmo or pay in person. Whichever is easiest for you"

 

LOL.  10% rake.

[seafoam1 2,617]

When I was in my 20's working at a restaurant, a bunch of the staff (about 20 people) put money into squares, paid out at the end of every quarter, I won all first 3 quarters, and was kind of hoping I wouldn't win the fourth cause everyone was getting a bit pissed. I didn't win the fourth quarter. So at least someone else won some money too. I walked out with about $1550 that night (including my tips at the bar).   

[edjr 6,429]

Quote

 

Ed, 

 

No problem. Best of luck. I believe Dean has the money you paid thru Janie or whoever. 

We’ll get it to you. 

 

If you find a pool who doesn’t take a piece off the top then let us know. 

 

Nobody does all this work free. It’s insane. I’m nuts, but not insane. 

 

 

[thegeneral 2,644]

19 minutes ago, supermike80 said:

Agreed.  I'm Ok with the guy running the pool getting his entry fee paid.  But 5K?  Give me a break

Yep

[edjr 6,429]

14 minutes ago, DonS said:

Speaking of super bowl SQUARES @edjr... 

Are you going to bring it back for this year?  I'll give you an extra $1 as a handling fee. 

Yes. 33% rake

[thegeneral 2,644]

21 minutes ago, edjr said:

My friend is not the one running the pool.

I didn't think anything of it, so I paid my $500 and entered.

Just got an email saying that the total being paid out was 45k.

I emailed back and said why 45k and not 50k?

My reply. "Please give me my money back. You can venmo or pay in person. Whichever is easiest for you"

 

Bush league. They should just get a free square at best.

This brings up terrible memory. Had a 500 square that I split with 5 people. Had the number in the SF / Baltimore game where SF took the safety. It still hurts!!

[Hawkeye21 2,259]

$5k to run a pool?  That's crazy talk.

[Nomad99 670]

$5k is a ripoff. Also, at $500 per square....payouts should be at change of score, not quarters.

[edjr 6,429]

1 minute ago, Nomad99 said:

$5k is a ripoff. Also, at $500 per square....payouts should be at change of score, not quarters.

Numbers are re-drawn after each QT

[DonS 3,288]

1 minute ago, Nomad99 said:

$5k is a ripoff. Also, at $500 per square....payouts should be at change of score, not quarters.

Interesting.  I've never been in one that is set up that way. 

How does the payout work in this setup, as there is no way to know beforehand how my score changes there will be in a game?

[Maximum Overkill 1,580]

Too risky, you're better off putting that money towards props. 

[Horseman 2,131]

Damn. We used to run $100 squares all the time for nothing but the fun of it.  Money back $100 ($500) at each score change is the way to go. Gets more people willing to drop the larger amount.  Still a big pot for the final.  

[Horseman 2,131]

2 minutes ago, DonS said:

Interesting.  I've never been in one that is set up that way. 

How does the payout work in this setup, as there is no way to know beforehand how my score changes there will be in a game?

Just makes the final pot number smaller if it's a high scoring game. Still huge though.  

[edjr 6,429]

4 minutes ago, DonS said:

Interesting.  I've never been in one that is set up that way. 

How does the payout work in this setup, as there is no way to know beforehand how my score changes there will be in a game?

I've done a $1000 SQ in the past that does all score changes. The person who has 0 - 0 starts with a win.

I think it was $1000 per score change.  Final score usually wins 30 to 50 k

[Horseman 2,131]

100x$100=$10,000

$1,000 quarters is $7,000 with no scores. Still $5,400 with 8 touch downs.

[Hawkeye21 2,259]

1 minute ago, edjr said:

I've done a $1000 SQ in the past that does all score changes. The person who has 0 - 0 starts with a win.

I think it was $1000 per score change.  Final score usually wins 30 to 50 k

Sounds fun.

[jerryskids 6,317]

46 minutes ago, edjr said:

Yes. 33% rake

I wondered how you have EdEx paid up through 2054...  

[jerryskids 6,317]

Also, and I know everyone here has thousands in their couch cushions, but I don't like to put that much money into something that is totally random.  

[edjr 6,429]

2 minutes ago, jerryskids said:

I wondered how you have EdEx paid up through 2054...  

With Venmo and Paypal now sending me a 1099, I should rethink me not taking any vig.

 

[Nomad99 670]

1 hour ago, DonS said:

Interesting.  I've never been in one that is set up that way. 

How does the payout work in this setup, as there is no way to know beforehand how my score changes there will be in a game?

We usually go 19 score changes....after that...sol $100 per square. 

[RaiderHaters Revenge 4,114]

id be good with free entry to run it, if thats the going rate ill run 20 of them and not work the rest of the year

 

[edjr 6,429]

12 minutes ago, RaiderHaters Revenge said:

id be good with free entry to run it, if thats the going rate ill run 20 of them and not work the rest of the year

 

Right? I have been running fantasy leagues, pools, whatever, you name it. Never took a cent

[WhiteWonder 2,565]

I'm involved in an annual survivor pool with a ton of entrants and a huge pot.  It's $50 per entry and I generally do 2. You'll see people with 20+.  First few years doing it, I never thought much about if the guy was taking a cut. One of the years I must have seen one of his e-mails and wound up realizing he was giving himself a really nice side salary and claiming it was to cover the hosting fees at runyourpool.com and costs associated with running a pool of this size. Pretty sure it's something close to 30 grand he was keeping.  I understand it's an undertaking to collect money from people, even if it is mostly being sent by PP or Venmo, and he has to cross check it with each entry on the site to know which to eliminate after week 1 for non payment but come on now.... 

[edjr 6,429]

4 minutes ago, WhiteWonder said:

I'm involved in an annual survivor pool with a ton of entrants and a huge pot.  It's $50 per entry and I generally do 2. You'll see people with 20+.  First few years doing it, I never thought much about if the guy was taking a cut. One of the years I must have seen one of his e-mails and wound up realizing he was giving himself a really nice side salary and claiming it was to cover the hosting fees at runyourpool.com and costs associated with running a pool of this size. Pretty sure it's something close to 30 grand he was keeping.  I understand it's an undertaking to collect money from people, even if it is mostly being sent by PP or Venmo, and he has to cross check it with each entry on the site to know which to eliminate after week 1 for non payment but come on now.... 

If this one was hosting a SB party. It would be a little better to accept. Even if I didn't go, I would understand. But pocketing 5k? GFY

[WhiteWonder 2,565]

3 minutes ago, edjr said:

If this one was hosting a SB party. It would be a little better to accept. Even if I didn't go, I would understand. But pocketing 5k? GFY

I think with the survivor pool, I never noticed originally and even after noticing have still participated because the prize pool is always between 350-400K.  But the guy running it also participates and gives himself a chance to win, on top of the money he's taking to run it. 

I always kind of felt like if you need to take money to run something then you should not be allowed to participate... and of course for smaller things you really shouldn't be taking any money to begin with.

 

If I were you I would start your own pool with nothing taken off the top and reach out to everyone in his pool to let them know

[edjr 6,429]

2 minutes ago, WhiteWonder said:

I think with the survivor pool, I never noticed originally and even after noticing have still participated because the prize pool is always between 350-400K.  But the guy running it also participates and gives himself a chance to win, on top of the money he's taking to run it. 

I always kind of felt like if you need to take money to run something then you should not be allowed to participate... and of course for smaller things you really shouldn't be taking any money to begin with.

 

If I were you I would start your own pool with nothing taken off the top and reach out to everyone in his pool to let them know

I text my friend who got me into the pool. "Do you know they take 5k off the top"  He said "I knew they took something, but no idea it was that much" I think I have already upset the applecart. 

[jonmx 2,300]

Have you seen the price of eggs lately???  The bookie has to eat! 

[DonS 3,288]

4 minutes ago, edjr said:

I text my friend who got me into the pool. "Do you know they take 5k off the top"  He said "I knew they took something, but no idea it was that much" I think I have already upset the applecart. 

Your work here is done. Now sit back and watch the dumpster fire.

 

[purdygood 310]

That reminds me of a Fantasy Football league I was in.  The pay in was $100 each. But the payout didn't add up to $1,000 (10 teams).  And when I asked, he said the missing $150 was to pay for "The Draft Day food".  

 

The "Draft Day Food" was a two Little Ceaser's pizzas and one Burger King burger per person.  It was also bring your own alcohol.

[Alias Detective 1,345]

I once won a basketball pool.  I got change that didn't equal a freaking dollar when I won. 

[edjr 6,429]

26 minutes ago, Alias Detective said:

I once won a basketball pool.  I got change that didn't equal a freaking dollar when I won. 

Was that the day you switched from D to R?

[Hardcore troubadour 14,424]

Box

[Alias Detective 1,345]

9 minutes ago, edjr said:

Was that the day you switched from D to R?

The honest to God's truth.  The person who ran it is now a Democratic county commissioner in the local area.