|Sample Pick'em Payouts and Prizes|
Below is a list of various payout structures you can use for your Pick'em Pool and your Confidence Pools. Please keep in mind you should check the laws in your local jurisdiction before wagering money on office pools.
We recommend paying 10% of the entries for up to 50 people. As the number of entries increase above that, we recommend decreasing the percent of places paid.
Example: If you have only 20 participants enter the pool, we recommend paying out 10%(2) of the entries. If you have 100 participants enter, we recommend paying out 7%(7) of the entries.
The table below shows the number of payouts per entry, along with the percentages that should be paid out based on what place the participant finishes.
Your Pick'em Pool has 40 entries at $10 a person for a total weekly prize pool of $400. The payouts would be as follows:
1st Place - $200(50%)
2nd Place - $100(25%)
3rd Place - $60(15%)
4th Place - $40(10%)
If you are running a lower cost $1-$2 pool, it is not uncommon to just pay 1 winner, no matter the number of participants.
Another popular option is to take a portion of the total prize pool and pay it out to the person who picks the most games correct for the entire season. An example using the $10 per person entry fee from above is to take $2 per person, per week, out of the prize pool and put it into a separate pot for the "Grand Champion"!
Example with 40 Players Per Week at $10 a Person
Total amount of entry fees would be 40 x $10 x 17 Weeks = $6,800
$80 Per Week - $1,360 Total - Set aside for the Grand Champion
$320 left each week for payouts
1st Place - $160(50%)
2nd Place - $80(25%)
3rd Place - $48(15%)
4th Place - $32(10%)
Grand Champion - $1,360
*Please check your local gambling laws for information on the legality of wagering money on office pools.
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