Ridiculous Entry Fee vs prize money

[ladyoblivion]

I'm not trying to put any one person on the spot because I have seen quite a few of these. But it's really annoying how some competitions on here have thousands of dollars for an entry fee and little to no prize money. Are they hoping people will click it and not check the amount they pay? It just strikes me as dishonest and a way for them to make loads of cash without truly earning it.

http://www.horseworldonline.net/competitions/view/33236

http://www.horseworldonline.net/competitions/view/32919 (What's the point of paying 50,000 and the purse only 50,751? It's not like even first place will get your 50,000 back. I can understand if you want a high stakes race for people with lots of money, but actually put up a high stakes reward for the type of cash like 100k at least make it worth people time and money)

http://www.horseworldonline.net/competitions/view/24779

http://www.horseworldonline.net/competitions/view/28419

http://www.horseworldonline.net/competitions/view/32482

http://www.horseworldonline.net/competitions/view/33309

(These are from the first 6 pages of all the competitions)

I know there has already been the suggestion of changing this but I just had to get this off my chest. There has also been the suggestion of "enter all competitions" option but I think people who make these ridiculous competitions would take advantage of that. :/ *sorry end of rant lol*

[BlackOak2]

I'm not trying to put any one person on the spot because I have seen quite a few of these. But it's really annoying how some competitions on here have thousands of dollars for an entry fee and little to no prize money. Are they hoping people will click it and not check the amount they pay? It just strikes me as dishonest and a way for them to make loads of cash without truly earning it.

http://www.horseworldonline.net/competitions/view/33236

http://www.horseworldonline.net/competitions/view/32919 (What's the point of paying 50,000 and the purse only 50,751? It's not like even first place will get your 50,000 back. I can understand if you want a high stakes race for people with lots of money, but actually put up a high stakes reward for the type of cash like 100k at least make it worth people time and money)

http://www.horseworldonline.net/competitions/view/24779

http://www.horseworldonline.net/competitions/view/28419

http://www.horseworldonline.net/competitions/view/32482

http://www.horseworldonline.net/competitions/view/33309

(These are from the first 6 pages of all the competitions)

I know there has already been the suggestion of changing this but I just had to get this off my chest. There has also been the suggestion of "enter all competitions" option but I think people who make these ridiculous competitions would take advantage of that. :/ *sorry end of rant lol*

I could agree with you on this (I'm sure I'm not the only one). As a general rule for myself when I'm not running my Baby Trials, I like to host events that make me even if only five entries make it run (if it's a popular event, I make the purse larger and the entry fee smaller, because I'll still be making something).
When I do the math, the purse should come out to about 2.5 of the entry fee. In my opinion that is generally fair. The host breaks even and the entry fee versus purse looks something like these:

400/1000
1800/4500
120/300
2200/5500

Likewise when I search for comps to enter, I will generally only enter comps that the fees are no more than half the purse. The rest I generally ignore.

For those just learning about comps, if you offer comps using the 2.5 rule I have, they can earn you adequate or even good money if you can figure out which events are popular.

[ladyoblivion]

I could agree with you on this (I'm sure I'm not the only one). As a general rule for myself when I'm not running my Baby Trials, I like to host events that make me even if only five entries make it run (if it's a popular event, I make the purse larger and the entry fee smaller, because I'll still be making something).
When I do the math, the purse should come out to about 2.5 of the entry fee. In my opinion that is generally fair. The host breaks even and the entry fee versus purse looks something like these:

400/1000
1800/4500
120/300
2200/5500

Likewise when I search for comps to enter, I will generally only enter comps that the fees are no more than half the purse. The rest I generally ignore.

For those just learning about comps, if you offer comps using the 2.5 rule I have, they can earn you adequate or even good money if you can figure out which events are popular.

That's really reasonable. Where you don't have to worry about not having enough money to host the comps since it pays for itself, but it also give people a chance to earn some money on them like it's supposed to be. For me I was kinda lazy (I absolutely hate math lol) I figured just add a few hundred to the purse and for each higher level add $50 to the entry fee so my comps come out looking like this. I also try to space out the ages as well so horses who are younger or older have a chance to win.

Oblivion Ballet
level/entry fee/prize*/age

1	$50	$736	1-5
2	$100	$1,427	1-7
3	$150	$3,471	1-9
4	$200	$5,869	5-15
5	$250	$7,548	5-20
6	$300	$9,779	7-20

(*Prize numbers are based upon what they are currently including percentage of entry fee because I couldn't remember what starting purse I put exactly)

[BlackOak2]

That's really reasonable. Where you don't have to worry about not having enough money to host the comps since it pays for itself, but it also give people a chance to earn some money on them like it's supposed to be. For me I was kinda lazy (I absolutely hate math lol) I figured just add a few hundred to the purse and for each higher level add $50 to the entry fee so my comps come out looking like this.

Oblivion Ballet
level/entry fee/prize*

1	$50	$736
2	$100	$1,427
3	$150	$3,471
4	$200	$5,869
5	$250	$7,548
6	$300	$9,779

(*Prize numbers are based upon what they are currently including percentage of entry fee because I couldn't remember what starting purse I put exactly)

It adds I think it's 236 so for your first level, you added 500 for the purse. If it only runs with the minimum 5 entries, then you could be loosing as much as half on that alone. So you're really being a sponsor rather than a host (my definition between the two as sponsor is donating money versus host as breaking even or preferably earning money).

Since I have the math already worked out, I'll post a short guide in our help section. It shouldn't take me too long (I get distracted easily), but I should have it up within half an hour.

[ladyoblivion]

It adds I think it's 236 so for your first level, you added 500 for the purse. If it only runs with the minimum 5 entries, then you could be loosing as much as half on that alone. So you're really being a sponsor rather than a host (my definition between the two as sponsor is donating money versus host as breaking even or preferably earning money).

Since I have the math already worked out, I'll post a short guide in our help section. It shouldn't take me too long (I get distracted easily), but I should have it up within half an hour.

Ahhh I like you're take on being a host and sponsor. I never really knew there was a difference. I'd love to see the guide you create Like I said I'm terrible with numbers and I'm not worried about losing money but I always like having a low-reasonable entry fee and a mid-high purse. For me it's a win win, even when its other people winning my shows because it draws more attention to my show's name and more and more people are entering their horses.

[BlackOak2]

Ahhh I like you're take on being a host and sponsor. I never really knew there was a difference. I'd love to see the guide you create Like I said I'm terrible with numbers and I'm not worried about losing money but I always like having a low-reasonable entry fee and a mid-high purse. For me it's a win win, even when its other people winning my shows because it draws more attention to my show's name and more and more people are entering their horses.

It's up. Have fun!

http://www.horseworldonline.net/forum/v ... =12&t=9859

[ladyoblivion]

It's up. Have fun!

http://www.horseworldonline.net/forum/v ... =12&t=9859

That's a great break down! I bookmarked it so I can get easy access to it <3 I think I'm going to use your equations for hosting Hunter events rather than sponoring them, but I will still sponsor my Dressage competitions. You've made this so much easier for me thanks so much!

[BlackOak2]

It's up. Have fun!

http://www.horseworldonline.net/forum/v ... =12&t=9859

That's a great break down! I bookmarked it so I can get easy access to it <3 I think I'm going to use your equations for hosting Hunter events rather than sponoring them, but I will still sponsor my Dressage competitions. You've made this so much easier for me thanks so much!

You're very welcome! It wasn't something I thought much about. But sometimes those are the most helpful things.

[ladyoblivion]

That's a great break down! I bookmarked it so I can get easy access to it <3 I think I'm going to use your equations for hosting Hunter events rather than sponoring them, but I will still sponsor my Dressage competitions. You've made this so much easier for me thanks so much!

You're very welcome! It wasn't something I thought much about. But sometimes those are the most helpful things.

Earlier when I said I hate math, just to give you an idea I failed geometry 3 times in high school and I still, embarrassingly, count on my fingers So your guide is so much help to me. <3

[BlackOak2]

Earlier when I said I hate math, just to give you an idea I failed geometry 3 times in high school and I still, embarrassingly, count on my fingers So your guide is so much help to me. <3

There is no shame in counting on fingers (I almost failed geometry myself, ridiculous teacher, and I'm decently good at math).

One of my favorite sayings for things that just don't quite 'compute' is to 'line them all up and take off the shoes and socks'... then sometimes I also add... 'hope that everybody isn't missing any toes, because that just screws everything up!'

I often find myself counting on my fingers too. It just shows we're visual learners. Perhaps if you had a better teacher (attuned to the way you learn), you would've gotten further or gotten there quicker.
We all have our limitations and they usually define how we learn, not what we can learn.