OPEN class event idea
How many teams would be interested in attending an 5-Man "OPEN" event with a $1000 (possibly higher) team entry and a 100% cash payout. Possibly winner take all or maybe a 75% to 1st place and 25% to 2nd place? We had an "OPEN" class, winner take all at our first event and went well. Winner took home $2700 cash. 9 teams entered paying $300 per team. This time we are thinking of upping the ante to $1000 (possibly higher) and having an even bigger cash prize to play for. i.e., 10 teams @ $1000 each is $10,000 in cash each team would be playing for. Either $10,000 to the 1st place winner or $7500 for 1st and $2500 for 2nd. The more that teams that enter the more cash you're playing for. Event would held in south Texas. We would really like to see some teams from the surrounding states attend.
Open X-Ball @ World Cup cost each team $2850 for entry and you were playing for a $10,000 cash 1st place prize. A $19,000 total cash prize package for Open X-Ball. That's was about a 50% payout. We're talking about 100% cash payout. If, we had 13 teams enter @ $2850 per team that's roughly $37,000. At this entry fee rate you would looking at paying out to fourth place. It would be something like 1st $18,500, 2nd $9250, 3rd $4625 and 4th $2312.50. Something to that affect. You get the idea.
I'm looking for some feedback on this. Good or bad.