2017 Next Generation Disc Golf Top Prize: Car

[DavidSauls]

In my region, qualifiers are on weekends. The info page shows them to be 2 rounds of 18.

 

[JC17393]

I noticed that many of the qualifiers are on weekdays. I wonder how that may affect participation numbers. Also, are these 1 round or 2 rounds events?

I only see one weekday qualifier (Tulsa in the South Central region) and it is scheduled for two days, one round per day.

Otherwise, they're all single day 36-hole tournaments held on Saturdays and Sundays.

 

[puck'n'disc5]

My bad, I totally misread the dates of the events.. I really need to take a class in learning how to read calendars. :doh::wall:

 

[scarpfish]

A car for the grand prize might seem like great marketing, but it's a serious tax liability for the individual (un)fortunate enough to win it. When you win a cash prize, you can give the IRS and other respective taxing authorities their share. It's a little hard to give them a percentage of a car.

I also wonder how many Am players good enough to make the finals would be willing to put in the time and expense necessary to even get to the finals? In my experience, Am players tend not to travel too far unless it's a destination event (BG Ams, GBO, Ledgestone, Am Worlds,etc.).

 

[Rockwell]

Well, I'm excited about this thing. Any ideas on how registration will work? First come first serve at a specific time on march 7?

 

[DavidSauls]

I also wonder how many Am players good enough to make the finals would be willing to put in the time and expense necessary to even get to the finals? In my experience, Am players tend not to travel too far unless it's a destination event (BG Ams, GBO, Ledgestone, Am Worlds,etc.).

I believe their expectation is that this will be a destination event. Only needing 72 players to fill, it might not be too hard. (The American Open drew almost that, virtually all of them amateurs from a long way away).

 

[jcf5083]

I also wonder how many Am players good enough to make the finals would be willing to put in the time and expense necessary to even get to the finals? In my experience, Am players tend not to travel too far unless it's a destination event (BG Ams, GBO, Ledgestone, Am Worlds,etc.).

For me, the possibility of winning a brand new car would turn this into a destination event.

 

[scarpfish]

I believe their expectation is that this will be a destination event. Only needing 72 players to fill, it might not be too hard. (The American Open drew almost that, virtually all of them amateurs from a long way away).

The finals quite possibly will fill due to TD's having the ability to pass on invites to the next qualified player. The problem is that players have to pass through two preliminary steps to get there and in most cases pay full entry fees that are a bit on the steep side for Ams, and then travel on top of that, for events that might be difficult to get your buddies to carpool to and share a room with.

Having looked at our qualifiers here it does seem they're stacking multiple qualifier events in the same city/area, which is kind of smart as it gives players who miss the cut at the first event another chance.

And there might be players at qualifiers who know they won't make the cut but might just sign up for the player's packs. I'm just not sure there are going to be 54 of them at every event.

 

[scarpfish]

For me, the possibility of winning a brand new car would turn this into a destination event.

And if you win that car, it's going to be considered income, no different than if you won the cash equivalent of its value. People who have won cars and vacations on game shows have found this out the hard way.

 

[DanJon]

A quick Google Search shows that you would pay about $6,000 in taxes on a $25,000 car, if you're in the 25% tax bracket.

I guess the rule of thumb is about 1/3 the value.

 

[DavidSauls]

The finals quite possibly will fill due to TD's having the ability to pass on invites to the next qualified player. The problem is that players have to pass through two preliminary steps to get there and in most cases pay full entry fees that are a bit on the steep side for Ams, and then travel on top of that, for events that might be difficult to get your buddies to carpool to and share a room with.

Having looked at our qualifiers here it does seem they're stacking multiple qualifier events in the same city/area, which is kind of smart as it gives players who miss the cut at the first event another chance.

And there might be players at qualifiers who know they won't make the cut but might just sign up for the player's packs. I'm just not sure there are going to be 54 of them at every event.

That might vary by region. I suspect that around here, events will fill, or come close to it, with players who have no intent to go further. Especially since 54 is a low cap. If each event has 2 players interested in advancing, that ought to be enough.

 

[bnbanbury]

If every single event filled, the first stage would generate $279,936.00 in entry fees, the second would generate $162,000.00, and the final would be $12,960. Just under $450,000.00 gross. Obviously the net will be much smaller but still would seem that the tour has some amount of leeway to not fill all the events and still be very successful. If they fill most of the qualifiers and regionals, just from a dollars/cents perspective it may not matter if the final only has 20 people in it.

I realize no one asked for this information. I just found it interesting.

 

[Discslinger12]

If every single event filled, the first stage would generate $279,936.00 in entry fees, the second would generate $162,000.00, and the final would be $12,960. Just under $450,000.00 gross. Obviously the net will be much smaller but still would seem that the tour has some amount of leeway to not fill all the events and still be very successful. If they fill most of the qualifiers and regionals, just from a dollars/cents perspective it may not matter if the final only has 20 people in it.

I realize no one asked for this information. I just found it interesting.

Especially when you consider over $800,000 of value is being returned to the competitors.

 

[PWaggoner]

If every single event filled, the first stage would generate $279,936.00 in entry fees, the second would generate $162,000.00, and the final would be $12,960. Just under $450,000.00 gross. Obviously the net will be much smaller but still would seem that the tour has some amount of leeway to not fill all the events and still be very successful. If they fill most of the qualifiers and regionals, just from a dollars/cents perspective it may not matter if the final only has 20 people in it.

I realize no one asked for this information. I just found it interesting.

Plus the side bet.

 

[bnbanbury]

Plus the side bet.

Good Point.

 

[jcf5083]

A quick Google Search shows that you would pay about $6,000 in taxes on a $25,000 car, if you're in the 25% tax bracket.

I guess the rule of thumb is about 1/3 the value.

The rule of thumb is the percentage times the value.

 

[Discslinger12]

Hi Folks,

I thought I'd share a little light on the taxes involved. They are part of life and are not unique to the NG tour. There are two components of taxes to consider:

First - income tax on the prize value. Any prize of significant value requires the recipient to claim the prize of their income tax - how much tax depends on the individual winning it (tax bracket). NG will issue the appropriate tax documents for all prize winners requiring them.

Second - sales tax on the car. If we awarded a cash prize and the recipient went and purchased something with it - they would pay sales tax on the purchase. The same applies for the car. We intend to provide the car as close to the end of the championship as possible in Phoenix. However, because we do not know where the winner will be from and different states have different rules/taxes relative to out-of-state vehicle purchases - we are also exploring the possibility to award the car through the winner's local dealership, this has further tax implications (for us mainly) that we are working to understand and may, or may not, be feasible in the end.

Anyone winning a car in any contest has to deal with those liabilities, we are not unique in how we are handling it.

Hope that helps,

Pat

 

[BogeyNoMore]

A quick Google Search shows that you would pay about $6,000 in taxes on a $25,000 car, if you're in the 25% tax bracket.

I guess the rule of thumb is about 1/3 the value.

The rule of thumb is the percentage times the value.

While jcf is correct, you also have to consider that unless you already have a fairly substantial income, there's a decent chance the cash value of a car (probably figured at full MSRP) will likely bump you to the next tax bracket.

Also keep in mind that a higher AGI could reduce the amount of (or possibly even phase you completely out of) any credits you would have qualified for on Federal or State income tax.

 

[DavidSauls]

All of which diminishes the value of the won car, and involves some hassle on both sides, but I'd think, when the dust clears, that the winner will still be happy with the result. If someone's circumstance is such that he'd actually lose money on the deal---I'm not sure that's possible, it would take a lot of lost credits---couldn't he just take the glory and decline the prize?

 

[bnbanbury]

Details of the side bet were published this morning. This is the text from the page:



Traditional disc golf divisions offered include Advanced, Advanced Women, Advanced Masters, Advanced Grandmasters, Intermediate, Intermediate Women, Recreational, and Recreational Women.

Enter when registering for a Qualifier. You may enter once per Qualifier. Each entry is treated as a separate entry into the DANCe.

All entries ranked by DGCR RoundRating on a national basis by division using competitor's overall place of finish to break ties.

Sandbaggers: We value integrity. If clear evidence of sandbagging is produced and provided to Next Generation Staff, we reserve the right to disqualify you without refund.

Within two weeks after the last qualifier, full ranked results and a 100% value prize payout to the top 25% Next Generation Disc Golf website with instructions for winners to collect their prizes. Scale will be defined by lowest payout amount equaling $15.

Winners receive credit equal to their winnings at discgolfcenter.com

SAMPLE PAYOUT:

If 5 Intermediate competitors entered per Qualifier, that would equal 540 entries with a payout of $8,100. Pay 25% = 135 places;

Sample Pay Scale:

1st Place: $300

2nd-5th: $150

6th-15th: $125

16th-25th: $100

26th-35th: $90

36th-45th: $80

46th-55th: $65

56th-65th: $50

66th-75th: $45

76th-85th: $40

86th-95th: $35

96th-105th: $30

106th-115th: $25

116th-126th: $20

127th-135th: $15