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  • cjhopkins07

    Interesting decision by DraftKings to up it from $27, thoughts?

  • cccalloway

    @reeses said...

    Yeah I had a few bad NFL weeks so i held out for 2 weeks and was gunna play the milly this week…but not anymore, makes it even worse value at 40 with so many people, yeah right.

    It does not make it a worse value but ok. The value in the payout structure actually looks slightly better (its still terrible but better than before).

    I bet most people complaining about this were already stretching to play a $27 game and $40 is way out. The thing is most of these entries are being bought up by pros who won’t care that it went from $27 to $40. I have a feeling this will have less overlay by only having to hit 71k rather than 92k entrants.

  • YoungFischer

    Does anyone really like this tournament? Even the lucky few who have a realistic shot of winning one of the top prizes usually go into Monday Night desperately try to work deals with each other to hedge because even they don’t want to play for $1mm. So we have a super top heavy tournament with a top prize that is so high that ultimately people don’t even want to play for it.

  • HungryHungryHip

    For now on can we just name these threads bitch, whine and moan?

  • CNTDFS

    Even the inverse of what theyre doing would be way better. Pay first like 10% and pay ~35-40% of field a min cash and up would probably keep them retaining players and growing their contests at a way higher rate then they are now if they are at all.

    It just needs to be flatter. The back end of the payouts are incredibly more important than the top end. You cant cater a 70-90k person field to the top 1-3 places. You need to keep in mind the bottom 10,000 entries that youre going to pay min cashes because those are the people that need to have funds next week and the week after that to continue to fill and sustain the industry. If you dry out the fish no one can eat.

  • FatalError

    DraftKings Rep

    @y2mulder said...

    So, here is a current satellite running for 500 tickets to the MM. The header states in plain English that “The top 500 finishers gain entry into the NFL $2.2M Millionaire Maker”.

    https://www.draftkings.com/contest/gamecenter/1949107

    So literally hours after starting the contest, you raise the price to $40, and now come on here and state the tickets WONT be honored??

    If I am reading everything right, you are playing with serious fire.

    That satellite was posted over a week ago before this decision was made.

    As I pointed out in this thread everyone who is in that satellite and wins will either be able to hold onto the ticket OR trade it is for $27 and use it for literally anything they want. Nobody who receives a $27 millionaire maker ticket is losing anything, they are gaining flexibility to do what they wish with the $27 in value.

  • tipandpick

    • 2016 FanDuel WFFC Finalist

    • 2014 FAFC Champion

    I think we all know why DK is raising the entry fee, so I won’t bother addressing that…but DK finds themselves in a pickle because of their marketing campaign.

    The company that “Crowns a new Millionaire every week!” would have to admit failure if they stopped doing it…yet, they are set up to lose $100’s of thousands of dollars every week, if the current trend continues.

    At the $27 buy-in level, you have to finish in the 95th percentile to actually double your money ($50)! For you guys that don’t like math, that is the equivalent of entering a 20-man “50/50” contest that pays out only the top 2 finishers…something that none of us would ever do. If you enter contests with that kind of payout continuously, you’re going to sabotage your bankroll.

    So, now we have a $40 buy-in, which DK is hoping will not be bothersome enough for anybody to change their current # of entries; if everybody buys in with the same # of entries, it easily fills. If the number of entrants goes down just a bit, they still don’t overlay. BUTto actually double your money in the new $40 format, you must finish in the 98th percentile! This is only making the problem worse.

    Meanwhile, FD is running a similar contest that seems to grow every week and will double your buy-in to the 80th percentile. This is a much more sustainable model for the larger DFS population because they can keep playing when they actually double-up 20% of the time.

    Sometimes it’s better to cut your losses and regroup than to keep sailing the ship directly into peril. JMO.

  • JBigg23

    @tipandpick said...

    I think we all know why DK is raising the entry fee, so I won’t bother addressing that…but DK finds themselves in a pickle because of their marketing campaign.

    The company that “Crowns a new Millionaire every week!” would have to admit failure if they stopped doing it…yet, they are set up to lose $100’s of thousands of dollars every week, if the current trend continues.

    At the $27 buy-in level, you have to finish in the 95th percentile to actually double your money ($50)! For you guys that don’t like math, that is the equivalent of entering a 20-man “50/50” contest that pays out only the top 2 finishers…something that none of us would ever do. If you enter contests with that kind of payout continuously, you’re going to sabotage your bankroll.

    So, now we have a $40 buy-in, which DK is hoping will not be bothersome enough for anybody to change their current # of entries; if everybody buys in with the same # of entries, it easily fills. If the number of entrants goes down just a bit, they still don’t overlay. BUTto actually double your money in the new $40 format, you must finish in the 98th percentile! This is only making the problem worse.

    Meanwhile, FD is running a similar contest that seems to grow every week and will double your buy-in to the 80th percentile. This is a much more sustainable model for the larger DFS population because they can keep playing when they actually double-up 20% of the time.

    Sometimes it’s better to cut your losses and regroup than to keep sailing the ship directly into peril. JMO.

    Very well put Tipandpick. This tournament from the beginning was all publicity and made no sense to compete in as a player.

  • benny11

    • Blogger of the Month

    We say this every week and then when there’s only 35,000 entries Saturday afternoon more then double that come in during the last 24 hours. We gobble up overlay on DK. They expected to lose $500-$600K the first week. Instead they ran it profitably for about four weeks and remember they also get rake from all those MM sat’s on top of that to lessen the blow. If they budgeted to lose $600K the first week and instead have raked more then $500K on it, they are still over a million dollars ahead of where they expected to be. If they can lose less then $150K each week the rest of the way then they get to say they crowned a dozen Millionaires playing fantasy sports this year for the amount of money they had budgeted as an acceptable loss in week 1 to say it once. We all realize the way to play this going forward for us is to throw in a few entries, hopefully won through sat’s and make a few deals with your buddies to give yourself coverage as a group and a chance for the upside.

    Whether it’s payouts, late swap, or roster construction, I like having choices. If you don’t like the Milly Maker payouts then play the lower buy in tourneys. If you want the same action, make the same 50 line ups and throw them all in the $12, $5, $2, and $1. Do the same on Thursday for the $2 and $5 and bang you got yourself the same 50 line ups at $27 each with a flat payout. There is obviously some demand for a big prize like this. Obviously more then any of us understand or thought when they did this for the first time. I know I won’t be playing the bulk of my money in it anymore, but I also know I will have an entry or two. Anyone not going to do that here?

  • DocJones

    To be clear, this raised the rake too didn’t it? It’s now like 12.5% right?

  • BernieKozar

    i haven’t checked it, but when the overlay is as big as it has been you are not paying rake, DUCY?

  • DocJones

    @BernieKozar said...

    i haven’t checked it, but when the overlay is as big as it has been you are not paying rake, DUCY?

    Ahhh yes. Good point.

  • easternmh

    • x3

      Blogger of the Month

    @tipandpick said...

    I think we all know why DK is raising the entry fee, so I won’t bother addressing that…but DK finds themselves in a pickle because of their marketing campaign.

    The company that “Crowns a new Millionaire every week!” would have to admit failure if they stopped doing it…yet, they are set up to lose $100’s of thousands of dollars every week, if the current trend continues.

    At the $27 buy-in level, you have to finish in the 95th percentile to actually double your money ($50)! For you guys that don’t like math, that is the equivalent of entering a 20-man “50/50” contest that pays out only the top 2 finishers…something that none of us would ever do. If you enter contests with that kind of payout continuously, you’re going to sabotage your bankroll.

    So, now we have a $40 buy-in, which DK is hoping will not be bothersome enough for anybody to change their current # of entries; if everybody buys in with the same # of entries, it easily fills. If the number of entrants goes down just a bit, they still don’t overlay. BUTto actually double your money in the new $40 format, you must finish in the 98th percentile! This is only making the problem worse.

    Meanwhile, FD is running a similar contest that seems to grow every week and will double your buy-in to the 80th percentile. This is a much more sustainable model for the larger DFS population because they can keep playing when they actually double-up 20% of the time.

    Sometimes it’s better to cut your losses and regroup than to keep sailing the ship directly into peril. JMO.

    Nailed it – I don’t think they can cut bait though. That might cause even more harm long term b/c of they way they’ve been advertising it “making millionaires all season.” Their whole advertising campaign would be useless then and I can’t imagine how much $ they’d be throwing away there.

  • Maynardj4193

    This tourney is clearly aimed at pure gamblers. Raising the price will give better odds at getting the million. I imagine many casual user like the idea of spending $40 at a weekly chance to become a millionaire. Much better chance than playing $40 worth of scratch offs…especially with the overlay

  • Maynardj4193

    Also, I’m almost tempted to try and bink it now that the field is smaller, and possible less pros playing due to this payout structure

  • chacha59

    Did 2 Lineups a Week because that is what I Can Afford,Going up to 40? Whatever!

    Single Bullet Here I Come!!
  • deleted1017

    This thread is silly. If you dont like it, dont play.

  • tianyihe

    @Maynardj4193 said...

    Also, I’m almost tempted to try and bink it now that the field is smaller, and possible less pros playing due to this payout structure

    This is interesting. Some of the familiar names did not have 100+ entries into the miillionaire this past week. Al_smizzle had less than 20 entries I believe, and opted to go into the $200 event instead with multiple entries.

    Rayofhope did put up close to 200 entries into the million. Unless he ended up pulling all his entries before kickoff due to the # of entries pushing past 70,000, it looks like he faded the pats/broncos and ravens/steelers game, because I don’t see any of his entries in the top 500.

    Unless the overlay is huge (less than 50k entries), I most likely would not touch the millionaire at the $40 price level. Putting up 100 lineups at $27 is already pretty hefty, at $40 with the payout structure actually getting worse is not something I can stomach.

  • Maynardj4193

    @tianyihe said...

    This is interesting. Some of the familiar names did not have 100+ entries into the miillionaire this past week. Al_smizzle had less than 20 entries I believe, and opted to go into the $200 event instead with multiple entries.

    Rayofhope did put up close to 200 entries into the million. Unless he ended up pulling all his entries before kickoff due to the # of entries pushing past 70,000, it looks like he faded the pats/broncos and ravens/steelers game, because I don’t see any of his entries in the top 500.

    Unless the overlay is huge (less than 50k entries), I most likely would not touch the millionaire at the $40 price level. Putting up 100 lineups at $27 is already pretty hefty, at $40 with the payout structure actually getting worse is not something I can stomach.

    I don’t even have an account on DK. I might make one just to gamble 1 entry in this now.

  • dp47

    • 2012 RotoGrinders TPOY Champion

    • 2012 FanDuel WFFC Finalist

    • 2013 FanDuel WFBC Finalist

    • 2013 FanDuel NFL Playboy Mansion Finalist

    I love this tourney. I want to win a million, not turn $27 into $50. And the good news is there are plenty of other games with flatter payouts if you disagree with me.

    Also, the tourney hasn’t quite filled the last few weeks at $27. Can you blame them for trying something new?

    Finally, I wish a governing body like the FSTA would set a limit to what is considered acceptable rake for DFS sites. RG could also set a maximum rake % to be featured on this site. I will not be entering lineups until I am certain the milly-maker isn’t going to rake more than 8-10%, and that will result in me entering way, way, way less lineups than I would have if the rake was set at the more traditional 10%.

  • tianyihe

    @dp47 said...

    I will not be entering lineups until I am certain the milly-maker isn’t going to rake more than 8-10%, and that will result in me entering way, way, way less lineups than I would have if the rake was set at the more traditional 10%.

    Pretty sure DK will lose money on the milly again, no way it hits the 62.5k it needs to break even.

  • BernieKozar

    @dp47 said...

    I will not be entering lineups until I am certain the milly-maker isn’t going to rake more than 8-10%, and that will result in me entering way, way, way less lineups than I would have if the rake was set at the more traditional 10%.

    As I said above, when the tournament overlays the way it has been the past 3 weeks – you are paying zero in rake… DUCY?

  • Hallison

    True. But I look at it like a 1.5 Million tourney as the 1 million is really not going to happen. This would make it over 50% in rake. But DK is in a dog fight for #1 and they have to do everything they can to be #1.

  • dp47

    • 2012 RotoGrinders TPOY Champion

    • 2012 FanDuel WFFC Finalist

    • 2013 FanDuel WFBC Finalist

    • 2013 FanDuel NFL Playboy Mansion Finalist

    @BernieKozar said...

    As I said above, when the tournament overlays the way it has been the past 3 weeks – you are paying zero in rake… DUCY?

    DUCY yourself. The comment you quoted clearly states that I’m not entering unless there is overlay because the rake is too high. So one might gather that I actually do in fact understand that if the tournament overlays there is little or even no rake.

  • otcprofits

    Top heavy tournies are long term unsustainable, your just never going to have enough players who lose 3-4 weeks in a row and keep playing… Only hope i guess for DK was they would check out 50/50 and double ups and become regulars, but most are probably just playing MM and will disapear from industry as a whole.

  • lynchmann

    I’m grateful. As a DFS rookie trying to build a bankroll, the new price point eliminates the temptation for me to throw a “silver bullet” at it. I do, however, have a relative that wants to buy an entry (through me) to the Milly, in lieu of buying a state lottery ticket. He pays, I set the lineup, we split the proceeds. If he wants to continue, I will do that FOR-EVER, amen.

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