New Real-Money Payout System
Our real-money payout system has been very unclear and very confusing to many UpDown members. First and foremost, sorry about that. Second, we now have what we believe is a very clear and very straightforward way to show you exactly how much real money you will earn each month on UpDown.
If you visit the Contests tab, you’ll see that you have been automatically entered into the October 2008 $3,000 Monthly Performance Contest. For the month of October, you will be paid according to the amount, ranging from $500 to $0.01, that matches your ranking in this contest. We will repeat this process every month so you always know exactly where you stand and exactly how much money you will earn at the end of the month.
Don’t worry, long term investors! In January we will launch a year-long performance contest (and possibly quarterly performance contests too) that will not put you at a disadvantage and will have payouts much larger than those in the monthly performance contests. Our main goal right now is to finally make crystal clear the amount of real money that each member will earn each month.
What do you think? Please let us know!
Brendan
UpDown Team
brendan@updown.com
Tags: Investing Contest, Payout System
October 29th, 2008 at 6:33 am
COOL now I am very happy. thankyou updown.com you guys are the best. but does this mean there is lots of money at stake for people in the contests?
November 3rd, 2008 at 8:33 pm
When you say payout based on your ranking, are you referring to the overall performance that month or total ranking? In otherwords, since I am down 30% like most, will wiping the slate clean make me more money or will it be based on how I did versus the crowd?
November 4th, 2008 at 9:33 am
Hi Scott,
Your real-money payout is based on your performance during each month. So, no matter where your portfolio is at the start of each month, you will be paid according to how you perform during the month. Everyone has a great chance to earn money!
Please let me know if you have any more questions.
Brendan
UpDown Team