FRGC/MGA

Forest Ridge Golf Club / Men's Golf Association


PAYOUT POLICY

All winnings in FRGC/MGA events are distributed in the form of FRGC pro shop credit. This document describes how the payout for each event is calculated.

Most FRGC/MGA events are grouped into divisions and flights. The calculations described below apply to each individual flight. In general the number of winning places and the amounts distributed to each are directly correlated to the number of participants in each flight.

Note that the calculations are applied separately for each flight, and consequently the number of winning places and payout amounts may differ between flights for the same event. If the event is not grouped into flights, the described calculations are applied to the entire field.

Places Paid

The number of places that will receive winnings is equal to 20% of the number of entrants in the flight, rounded to the nearest whole number.

Payout Amount

It is the policy of the FRGC/MGA to allocate a minimum of $18 of each event entry fee toward prizes for the winners of each flight. Payout amounts are rounded up to the next whole dollar, which means that the payout amount generally exceeds the $18 minimum. The residual amount of each entry fee is retained by the club to cover operating expenses, long drive and closest to the pin contests, and costs for food and beverage which occasionally follow events.

Distribution of Winnings

The total payout amount calculated in the previous section is distributed among the winning places on a geometric scale, such that each place receives 30% more than the next lower place. Once the calculations are made, all results are rounded up to the next whole dollar.

Ties

Ties for first place in any flight are resolved according to the documented Tiebreak Procedure, resulting in an absolute winner for each flight. In all other cases, winnings for the affected places are added together and distributed equally among those tied. For example if there is a three-way tie for 2nd place, winnings for 2nd, 3rd and 4th place are added together and split three ways.

PAYOUT POLICY

Example of Payout Calculation

Assume a flight of 17 players, each contributing a $20 entry fee.

Number of Places = 20% of 17 = 3.4, rounded = 3 winning places

Total Payout Amount = $15 x 17 = $255

Raw geometric distribution with 3rd place = 1

3rd

= 1

= 1.00

2nd

= (1.3)

= 1.30

1st

= (1.3)2

= 1.69

Normalize by dividing each factor by sum of factors (3.99)

3rd

= 0.2506

2nd

= 0.3258

1st

= 0.4236

Multiply Payout Amount by each factor

3rd

= $255 x 0.2506

= $63.90

2nd

= $255 x 0.3258

= $83.08

1st

= $255 x 0.4236

= $108.02

Round up to the next whole dollar

3rd

= $64

2nd

= $84

1st

= $109