Option 1: Shut it down, refund all money
Option 2: Change the price to 3 squares for $10. That will take us to 81 squares sold, with 19 remaining. The current prize pool is $270 (with 19 open squares); the max. prize pool would be $330 (with one open square). I will continue to accept payments if anyone else wants in, but I propose payouts as follows:
- 20% of the total prize pool allocated among the 8 Sweet Sixteen winners
- 30% of the total prize pool allocated among the 4 Elite Eight winners
- 20% of the total prize pool allocated among both Final Four winners
- 30% of the total prize pool allocated to the Championship game winner
If we go this route, we will have up to 19 blank squares (if we don't sell any more) but at least one open square (if we sell 18 more squares for $60 more). Prizes are allocated by round. So if an unsold square hits a Sweet Sixteen game, the 20% is distributed among the other 7 winners. If an entire round has no winners, the prize amounts for that round will be distributed evenly among winners from the previous round. So if an unsold square wins the Championship game, the 30% allocated to the Championship game will be split by the winners in the Final Four round. All payouts will be determined after the Championship game so I can round as closely as possible.
This new proposal is not what everyone signed up for, so WE WILL ONLY GO WITH OPTION 2 IF EVERYONE AGREES. Please confirm you are and if so, please select your additional squares. You have until 4:00 p.m. EDT on 03/28/24 to confirm you are in for OPTION 2. If we don't have a unanimous agreement by that time, I will default to OPTION 1 and refund all money.
