User:Eyeball Jones/Elimination pool

An elimination pool (aka, survivor pool) is a gambling experience enjoyed by multiple players over the course of a particular sport's season - customarily a sport wherein competitions are held at regular intervals (e.g., weekly). The basic concept of an elimination pool is to choose a different team every week to win their game - as long as you're right, you are not eliminated.

Many elimination pools allow a single participant to buy multiple entries in the pool. Many elimination pools provide a buy-back rule wherein an eliminated entry can be regained for a fee.

More specifically: You pick one team (per entry that you have bought) to win their game outright each week. If they win, your pool entry advances to the next week; if they lose or tie, that pool entry is eliminated.

Each sport team can be selected only once during the season for a particular pool entry.

If you have bought in for more than one entry, you may pick a different team for each entry, or the same team if you want, but a loss with the same team eliminates both entries.

You may not use a team twice at any time during the season, so once you have picked a particular team (per entry), they are no longer an option for you.

Settlement: Any agreed upon method of setting the pool at season's end (or when only one participant remains) is fine. One example: Payments are made to the top three finishers or the last three remaining players. In the event that two or more players in the money lose in the same week, the order of finish will be determined by point differential in that week. For example, using the NFL as, if there are 4 players remaining in week 10 and player 1 chooses Washington and they lose by 3, player 2 chooses Dallas and they lose by 6, player 3 chooses Philadelphia and they lose by 7 and player for chooses Pittsburgh and they lose by 10, by virtue of the rules, player 4 is eliminated, player 3 takes the third place winnings, player two finishes second and player one takes the top money prize.