Proposal to increase the weekly competition entry fee
N.B. At the bottom of this page there is a link to the on-line voting page
Proposal
It is proposed that the entry fee for the Par 3 Club weekly competitions is increased from £1 to £2 with effect from April 2021.
Proposed by Richard Hone : Seconded by John Greenwood
Proposal Rationale
The entry fee for the Par 3 Club has been £1 ever since the club was first formed in circa 2005.
The relative value of the prizes awarded to winners has naturally decreased significantly over this time, and will continue to decrease further.
For most Par 3 Club members it is appreciated that the actual amounts won are not a major issue and most would say they are not overly concerned about it.
However, the proposers are of the opinion that there is a real need to ensure that prize amounts are maintained at an appropriate level that gives the Par 3 Club reasonable credibility and also instills pride in our competition winners.
Although the current prize amounts are reasonably creditable they are nonetheless gradually becoming less so. At some point the prize values will need to change and so, rather than wait until it gets to the point of embarrassment, perhaps we would be better to act now. If we do the change now it should last for at least another 10 years or more.
The amount of money raised from the competition entry fee determines the number of winners and the amounts awarded. A typical competition with 70 participants pays out to the top ten winners with a first prize of £10 with further prizes decreasing down to £3 for the 10th winner.
Although it might be thought that doubling the entry fee would simply mean doubling the prize amounts it actually offers a bit more flexibility than that. It also allows us to choose to pay out reasonable prizes to a slightly increased number of winners, whilst still retaining a respectful payout to the top winners.
The committee have recently agreed to adopt a new computerised formula-based utility (developed in-house) to determine the number of winners and the prize amounts for future competitions. The utility gives us greater flexibility in administrating the competitions and in its current set up (for the £1 entry fee) it very closely mimics the prize lookup tables that it is now replacing.
Using this new utility also allows for future development of computer based systems for automating the administration of competitions, such as producing the prize vouchers and/or emailing them to winners.
Prize Award Comparison
Below is a helpful comparison between the current payout for 70 players both for the lookup table and the new utility (for the £1 entry fee) and comparing them with two example options available with the proposed increase:-
| £1 Entry (Lookup Table) |
£1 Entry (New Utility) |
£2 Entry (10 Winners) |
£2 Entry (12 Winners) |
|
| 1st | £10.00 | £10.00 | £20.00 | £17.00 |
| 2nd | £9.00 | £9.00 | £18.00 | £16.00 |
| 3rd | £8.00 | £8.00 | £16.00 | £15.00 |
| 4th | £7.00 | £7.00 | £15.00 | £13.00 |
| 5th | £6.00 | £6.00 | £13.00 | £12.00 |
| 6th | £5.00 | £6.00 | £11.00 | £11.00 |
| 7th | £4.00 | £5.00 | £9.00 | £9.00 |
| 8th | £4.00 | £4.00 | £7.00 | £8.00 |
| 9th | £3.00 | £3.00 | £5.00 | £7.00 |
| 10th | £3.00 | £2.00 | £4.00 | £5.00 |
| 11th | £4.00 | |||
| 12th | £3.00 |
Now that you have read the proposal let’s go to the voting page
Go To Voting Page to make your vote.