Custom Payout Structure
A lot of sellers often want to payout winnings using a specific calculation or system that is not provided by ChipMeUp. By selecting 'Custom Payout Structure' a user can specify their own payout system for their share buyers. After the seller completes the event, not only do they enter their total winnings for the event, they also enter a value for 'Winnings per Share'. This is the actual amount that will be paid out in winnings for each share.
Things to note about Custom Payout Structures:
- The seller must explain how they will pay out winnings in the description of their event.
- Each share must have the same winnings.
- Once an event has been created, the seller cannot change their Custom Payout Structure.
- Winnings per share can have a dollars and cents component (e.g. 10.45)
- A seller cannot set the event to have Stakeback if they use a Custom Payout Structure, but they can certainly take this into consideration using their own payout system.
- When creating a new event, Custom Payout Structure can be chosen from the 'Payout Structure' options section.
- If a Custom Payout Structure is used, a price/value will not be shown on the event.