Enter the total number of winners and the total prize pool into the calculator to determine the prize money split.
Prize Money Split Calculator
The following formula is used to calculate the amount of money earned by each person in a prize money split.
$/P = PP / #P
- Where $/P is the prize money per persons ($)
- PP is the total prize pool ($)
- #P is the number of people slitting the prize
To calculate the prize money split, divide the prize pool amount by the total amount of people that are splitting the prize.
What is a prize money split?
A prize money split is defined as the amount of money each person receives when a prize pool is split between a certain amount of people.
How to calculate prize money split?
Example Problem:
The following example outlines how to calculate a prize money split.
First, determine the total prize pool. In this example, the total prize pool amount is $1,000,000.00.
Next, determine the number of winners splitting the money. In this case, 4 people are splitting the winnings.
Finally, calculate the earnings per persons using the formula above:
$/P = PP / #P
$/P = $1,000,000 /4
$/P = $250,000.00
