I am amazed that people are willing to give up the vigs they do...I can't think of any other gambling situation where the house keeps such a big piece of the pie. The new owners of the WCOFF are promising a higher payout, but I'm not clear as to whether it's going to close the gap enough not to remain exorbitant.
You will have to amplify that Jason. Let's say that the total WCOFF entry costs $2000 (that is slightly higher to cover some extra expenses). Winning your 12 team league nets you $7,000. I am willing to bet 7-2 that I can win my league (only 1-5 in the main event but much better in the auction events to date).The league payouts are what entrants should look at as their "bet". You make good money if you win the league; clear more than your expenses if you finish second; and get part of your entry fee back if you finish third.If you win your league or get to your LCG and have a high enough score then you get a ticket on the playoff merry-go-round for the big brass ring [$200,000 in previous years now $300,000 for this season]. The people who have done that to date are no better FF players than you or several here - but they made the bet and took home a payday that pays for their entries for the rest of their FF careers.
Hey Captain Hook, All due respect, you're expressing a common mathematical fallacy that's found in nearly all forms of gambling. You FEEL as though you have an edge over your competition and, thus, your odds are better than the 7-2 you see as the entry fee. The thing is, everyone in your league feels the same way. The reality is that you're each going into this with an EV of (% chance of winning)/(7/2 perceived payout). My issue is with total payout.When I put $500 into my local league, as all my buddies do, I know that save for the $80 it costs for MFL, we are paying back 100% of kitty. Realizing that there are costs to set up an event like WCOFF or NFFC, it's reasonable for the house to take a vig, but I have a problem with the size of the vig.Collectively, the entrants are giving up a big % of their pay-in, and that doesn't sit well with me. I realize, for some, the ego stroke of winning a "high stakes" league and/or the experience/excuse of going away to Vegas are worth the fee, but I'd just as soon go to Vegas with my buddies and pay into a high stakes league where our payout is close to 100%.That's just me.