Payout preferances

3000 is not a lot to work with. But, you need to advertise a prize pool in advance regardless of the number of teams. But, I would call at least top 5 in each category ( people like to hear their name called even if they don't win money). A ribbon or something for 4th and 5th could be optional - people like to take something away when they can. Just don't but $1 ribbons to pass out. 1st - 3rd in the categories should get some sort of hardware along with the prize money.

GC 600 + trophy
RGC 300 + trophy

categories: ( 525 x 4 = 2100 )
1st - 300
2nd - 150
3rd - 75
4th - nice ribbon or medallion
5th - ribbon or medallion

One option could be to make GC 500 and pay 25 for 4th in each category. Some may disagree, but, it's nice to see some of the money and hardware spread out. Some think most of the cash should go to the top. If it's a small comp with mostly local teams, spread it out.

This is just a guess from me because I'm an analytical thinker, but in general, I would say that your total payout or purse should be about your total expected team entry fees, maybe a little less....so $3,000 for 16 teams seems on par to me if you are charging $200 or less per team. If you are charging $225 or more, I would think $3,300-$3,400 would be more appropriate.

Then to me, I think that approximate ratios that make sense are 1/3 of the purse goes to overall, and 1/6 of the purse goes to each category. From there you need to figure out the exact payments and answer a few questions: Are you only paying GC and RGC overall, or more? In each category, and maybe overall, are you paying out top 3, top 5, top 10? Are you Ronnie Cates and paying out top 50? Then you can break the numbers up such that each place gets the same or more as the place under it. This is where it might make sense to adjust numbers so that they are even, drop a $32.50 prize down to $25, so that a 103.22 prize can be increased to $150. Maybe even change your purse some to make it make sense. This is all in addition to the cost of trophies, plaques, ribbons, etc and is also seperate from any ancillary prizes.

That's just a guess though, I'd be very interested to see what others say.

dmp

You have to pay down to fifth. The way I always look at a contest is.. The amount of first place, should be at least what the entry fee is.

For a $3k contest, and a$175 entrance fee...

GC-$600
RGC-$300

Each category X4
1st - $175
2nd - $125
3rd - $100
4th - $75
5th - $50

View attachment AABB_Payout_Schedule.xls

Here was the payout model for my contest, which shows percentage breakdowns for each category. We paid top 10 for categories and top 3 overall. Hope this helps!

GC-$650
RGC-$350

Each category X4
1st - $130
2nd - $110
3rd - $80
4th - $60
5th - $40
6th - $30
7th - $20
8th - $10
9th - $10
10th - $10

Just Smokin' Around said:

GC 600 + trophy
RGC 300 + trophy

categories: ( 525 x 4 = 2100 )
1st - 300
2nd - 150
3rd - 75
4th - nice ribbon or medallion
5th - ribbon or medallion

Click to expand...

I like this option.:thumb:

Scottie said:

You have to pay down to fifth. The way I always look at a contest is.. The amount of first place, should be at least what the entry fee is.

For a $3k contest, and a$175 entrance fee...

GC-$600
RGC-$300

Each category X4
1st - $175
2nd - $125
3rd - $100
4th - $75
5th - $50

Click to expand...

This looks good to me.

I'd rather have the shot at decent money than 10 bucks. Especially in a field of 16 teams.

Morgan12 said:

First of all thanks everyone for the input on this. Like I said my goal is to make you guys happy. I can promise we will pay out as much as possible. This is also our first year so I will have some start up cost as well and since we have no start up money I've been working my but off getting sponsorships, donations and such set up. I'm sure if this goes good next year our payout will be better since I'll be able to put some of the sponsors money into the pot as well.

As far as Trophys go do you think that some nice cutting boards with the laser etched logo of the event would be a good idea vs. tropheys for the 4 main cats? Then maybe a nice engraved knife and a med sized trophy. I get alot of people who say that trophys don't mean that much to them they'd rather have money or somthing they can use? Also can you guys use wood cutting boards?

Click to expand...

IMO - I would say cash and trophies. Maybe if I had 20 trophies I would not like them anymore, but that isn’t the case. We try to use as many disposable items as possible including cutting boards. Most teams have their own knives and gear. Just my $0.02. Good luck.

I forgot the KCBS rules say you have to pay down to 5. I didn't think paying to 10 spots with only 16 teams was that good of an idea unless you want nearly everybody to win something. If you get more teams, then pay out more places. You can always call top 10, but, only give awards for top 5. That's always nice. I like the payout schedule Scottie had.

If you can come up with a nice trophy like the laser etched cutting boards or cleaver, that would be nice. I think most folks like the more unique trophies as opposed to the standard pedestal type with an animal on top. Don't give a trophy you would expect a team to use later on. Make them nice for display purposes.

Good luck.