Quote:
Originally Posted by DMoogle
WAT
Where in the world does this figure come from?
Well, it is a legitimate question.
Quote:
Originally Posted by Monteroy
He made it up.
Bad guessing. I didn't make it up. I figured it out. Maybe, my estimate is wrong, but it's based on dependable source:
http://www.partygaming.com/prty/uplo...ults110309.pdf
This is official PartyPoker 2008 annual financial report. There I've found some usefull information:
Net Revenue from Poker: 274.0 millions
Clean EBITDA from poker: 76.1 millions
(that is: Earnings before Interest, Taxes, Depreciation, and Amortization.)
They don't declare their profit from poker separately from others their enterprises, like PartyCasino, PartyBingo, PartyBets and so on. I can assume the proportion of profit to EBITDA is same or close for all activities.
Total EBITDA: $133.3 millions
Total Profit after tax: $77.8 millions
EBITDA from poker: $76.1 millions
After using proportion calcualtion clean profit from poker comes to about 45 milions.
Let it be $50 M. This is their legitimate earnings.
Now some more information from the report.
Unique active players: 1,241,300
Here dependable part of my research ends and estimate starts.
Question 1: what part of all players are winners.
I read different estimates, ranging from 1 to 20%.
Question 2: How much all winning players, including big winners and small stake grinders, win on average.
A read an oppinion that, "slightly" good player can winn 10,000, very good - 50-100K.
Let's remain on a conservative side and put it this way: 1% of players wins 20,000 per year on average. Or, 12,240 PartyPoker players may win altogether $250 mln. Theoretically, If PartyPoker could somehow cut possible players earnings in half, it would be additional gain of $125 millions. 2.5 times more than their legitimate earnings.
If to be less conservative and to take 5% for winning players, $30,000 as an average yearly winnings (note, it includes 6 figures winners along with others), or allow PartyPoker take away from winners more than half, the ratio may easily be 10 and more.
Well, if you still call it "made up", then I'm sorry for this.
Better yet, prove I'm wrong. I'll be glad. As I said, those concerns about rigging bother me.
O, please, don't call me a rigtard - I never said that PartyPoker is rigged. I only said that I see great incentive for them to do something. Maybe, they are too good morally to do such sort of things (no joking).
Riggedologist is acceptable
This word comes from "logic" instead of "******"
(joke).