Pretty disappointed overall with how my negotiations with Betcoin have turned out. It's certainly better than them just taking it, or doing some non-transparent payout but still not great.
We went from:
Lets figure out how to return entire Jackpot to players based on how much they contributed (sorry, we don't have the data)==>
Lets figure out how to reopen the room, fix the rules and get the Jackpot payed out quickly and fairly (sorry, we want to give more players a chance to win it) ==>
Lets just change the minimum requirement, leave the other rules the same and let the BBJP get hit 10 times, including a 10% house fee for each hit - on the tenth hit, they will contribute the re-seed to the winners.
Currently the way I interpret the rules, the cut of the entire Jackpot is determined by the stakes of the table , 20% for .10/.25 and lower, 50% for .25/.5 - 2/4 and 100% for 5/10+ (
http://www.betcoin.ag/files/betcoin/images/bbjtablelimits.PNG ) The same BBJP fee is taken from all tables, so it should all be the same. But it wont be because they don't know how to change it.
The biggest issue I have with how the rules are is that each hit will almost certainly only payout 20% of the total, since it will be at 25NL or lower.
Of that 20%, the house will take 10% off the top for themselves, another 20% to put back into the jackpot, and the remaining 70% (of the 20%) will go 70% to winner, 20% to loser and 10% to other players at the table.
Assuming each hit happens under 50NL, this is what the first three payouts would look like (not including any added funds from hands played after reopening)
Jackpot 34000
20% = 6800
House - 680
Reseed - 1360
Players - 4760
Loser - 3332
Winner - 952
Other Players - 476
New Jackpot 28560
20% = 5712
House - 571
Reseed - 1142
Players - 3998
Loser - 2799
Winner - 800
Other Players - 399
New Jackpot 23990
20% = 4798
House - 480
Reseed - 960
Players - 3359
Loser - 2351
Winner - 671
Other Players - 336
New Jackpot 20152