The amount of money in the jackpot pool is determined by the entry fee amount and the number of contestants entered in each pattern. The lower the cost to enter a pattern the less money will be in the pot for jackpot payout. Likewise events that have a higher entry fee will pay out a larger jackpot amount. If the number of contestants entered are the same. The entry fees collected are added together and 30% is subtracted for the producers pay. Producers will be paying equipment, supplies, promotional and other costs with the 30% collected from the jackpot total.
Example: An event offers a pattern that cost contestants $15 to enter, 25 contestants enter this pattern.
15X25=$375 subtract .3 for the producers percentage. $112.50 .
Next subtract the producers percentage (.3) from the jackpot total
375-112.5=$262.50
Next we add in any added money to the jackpot total, for our example we will add $50.00
$262.50 + $50=$312.50 is our total jackpot payout for this pattern.
Our system is designed around 6 divisions. Each division will receive a percentage of the total jackpot amount. Larger percentages are payed to the higher divisions.
1-Division will receive 27% of the pot.( per our example $312.5X.27%=$84)
2- Division will receive 21% of the pot .( per our example $312.5X.21%=$66)
3-Division will receive 17% of the pot. ( per our example $312.5X.17%=$53)
4-Division will receive 13% of the pot. ( per our example $312.5X.13%=$41)
5-Division will receive 12% of the pot .( per our example $312.5X.12%=$38)
6-Division will receive 10% of the pot .( per our example $312.5X.10%=$31)
1-11 entries pays one placing per division
12-19 entries pays 2 placings per division
20-39 entries pays 3 placings per division
40-79 entries pays 4 placings per division
80-119 entries pays 5 placings per division
120-179 entries pays 6 placings per division
180-239 entries pays 7 placings per division
This is the formula for what percentage each placing will receive of the division payout
When the formula above calls for paying one placing , (11 or fewer entries) 100% to first place in each division.
When the formula above calls for paying two placings (12-19 entries) 1st place receives 60% and 2nd place receives 40% in each division
When the formula above calls for paying three placings (20-39 entries) 1st place receives 40% and 2nd place receives 35% 3rd place receives 25%
When the formula above calls for paying four placings (40-79 entries) 1st place receives 37% and 2nd place receives 28% 3rd place receives 20% 4th place 15%
When the formula above calls for paying five placings (80-119 entries) 1st place receives 25% and 2nd place receives 25% 3rd place receives 20% 4th place 15% and 5th place 10%
When the formula above calls for paying six placings (120-179 entries) 1st place receives 27% and 2nd place receives 23% 3rd place receives 18% 4th place receives 14% 5th place receives 10% 6th place receives 8%
In our example we had 25 contestants entered in this pattern so we will be paying down to 3rd place in each division.
Our example payout will look like this
1-Division total of jackpot $84 1st $34, 2nd $29, 3rd $21
2- Division total of jackpot $66 1st $26 , 2nd $23, 3rd $17
3-Division total of jackpot $53 1st $21, 2nd $19, 3rd $13
4-Division total of jackpot $41 1st $16 ,2nd $14, 3rd $10
5-Division total of jackpot $38 1st $15, 2nd $13, 3rd $10
6-Division total of jackpot $31 1st $12, 2nd $ 11, 3rd $8
All totals are rounded to the nearest whole dollar