How Much You Can Earn With Contests On Steemit !
How Much Can You Earn With Contests On Steemit ?
When you look at the entries of all the hosted contests on Steemit you very often see the same names participating in all of them (nothing wrong with that). As a way to get a better understanding, I made a list of what the members who mainly enter contests earn. The numbers are only from the last 2-3 months and should show how profitable grinding these contests on Steemit can potentially be! (The amounts are roughly calculated, please correct me if I'm wrong)
| Contestant | Total Payouts | Won SBD | Won STEEM |
|---|---|---|---|
| @vicspics | ~125 | ~155 SBD | ~10 STEEM |
| @starline | ~65 | ~70 SBD | ~0 STEEM |
| @steem-d-anlovnit | ~140 | ~65 SBD | ~5 STEEM |
| @cmoljoe | ~40 | ~45 SBD | ~1.25 STEEM |
| @photo-moment | ~40 | ~40 SBD | ~0 STEEM |
| @nikossa1908 | ~75 | ~35 SBD | ~10.5 STEEM |
Conclusion
If you want to earn some extra SBD or STEEM by entering contests, you don't have to depend on a single big payout as the smaller wins can really add up if you play enough of them!Where to Draw The Line ?
I personally have no problem with people playing in a lot of contests or even being on Steemit only to play contest, but only if part of the earnings are used to actually contribute to the contest they are taking money from by Powering Up. (I'm not targeting anyone personal)I have quite some rules in place on my own Weekly EPL Betting Contest to prevent abuse and increase the chance for contestants who are on this platform for the longer run to win more. I always try to do this in a consistent way which sometimes prevents accounts with good intentions to partcipate (minimum 0.01$ upvote required / 1 account per household).
The thing I'm struggling with right now is where to draw a fair line when it comes down to contest grinders who are mainly on Steemit to play contests and cash out. To give an example:
I think everyone can agree that it's abuse if (to put it extreme) a 0SP account does nothing but play every single contest on Steemit and cashes out ~40 STEEM each month. What if that account powers up 5 STEEM and cashes out 35, ...
My Question...
I rejected @photo-moment his entry in last week's contest because of "mainly being on Steemit to play contests and cash out". (Joined July 2017, all comments are contest enties, plenty of cash outs over time, rescent power down and only 50SP was my basic reasoning without any real consistency in place)- Is this too harsh ?
- What Should be a good consistent rule to go by?
It's a big grey area for me too. I haven't quite got my head around the idea that abuse is OK so long as the proceeds are powered up. From what I've seen it just means the abuser can power down at a future date when they decide to exit, so it's really more about short term cash flow than anything else.
I have alternated between powering up and cashing out a bit over the last few months. Not related to contests really, but in general. I think the stigma around cashing out is a bit irrational. If I own the keys then I own the crypto, whatever form it takes.
It only makes sense to me if the view is this is a giant ponzi and we all just want to keep the game going so we don't want any withdrawals for fear of bringing the whole thing down....
Good point. I personally see having some Steem locked up in SP itself as contributing to the platform as it decreases the supply at least in the short term. I also see this platform as a ponzi which could work if it's used responsible. The only impact I have to make it work is to use it as responsible as possible myself which is what I try to do. Right now it's quite hard not to turn to the dark side as it is far more efficient in the short term. The system really needs some changes soon, but it will probably always remain in a grey zone.
Tough one to call isn't it.
Ideally, you want the entrants to be investing their winnings back into the community, but as @buggedout says, after it's in your hands it's yours to do how you wish - power up, pay bills, etc.
p.s. You've got brittuf up there twice, and I host a curation contest each Sunday so you could put me in there instead? :)
Haha, your contest really has ultimate abuse resistance.
Thanks for pointing out the mistake, I added a shoutout to your Curation League.
haha :D
Well i can think of some ways to try to cheat the system, but not many. And, I'm watching!
Generally though, you have to put some real effort in, especially for league 2, and so yeah - work it!
Cheers for adding me in :)
Love the topic. My personal point of view is: to each their own. If someone choses to devote their time to solely playing contests, writing personal blogs, or simply curating, that's their business. What one does with their time, money, and attention is none of my concern.
I only take offense when offense is given. If you are intentionally interfering with my pursuits, or those of others, that's where I draw the line. Other than that, do what you like.
But hey, that's just my point of view. I respect the opinions of others, and am always open to consideration of other factors.
I agree, but it's hard to define where the line is. Anyone who uses steemit very selfishly is in a way interfering as for this platform to work it needs to be used responsibly. It is really hard to put a number on it as everyone in a way is both the good and the bad guy. I guess it makes this platform interesting.
Nice to see one of your posts got picked up by @curie !
Agree with your position that selfish behaviors hurt the platform and should be examined. I believe this type of dialogue, over time, will help to more clearly define those lines.
Thanks for the comment regarding curie. I was shocked, but in a great way! And as always, very appreciate of your support. Cheers!
Oh, also, my daughter just spent the past month in Belgium. Her husband was performing an internship at a medical facility in Namur, Belgium... They found the country quite interesting and beautiful! They were also able to visit Brussels, as well.
to each their own....exactly
Thank you for the mention.
Minimum 0.01$ upvote is what I have also.
Yes I think it's a very fair rule. I reframed it to "You need to contribute at least a 0.01$ upvote to enter"
I would say most accounts that start on Steemit don't last very long as they join with the wrong intentions and quickly give up. For the ones with the right mindset it should be no issue at all to get to 0.01$ upvote fairly quick even without buying steem.
Yes. I agree. And you can always lease SP also.
@costanza! I do agree with most of your rules! Except I think we'll disagree on the one about only one per household!
Again I understand people may make duplicate accounts. If there was an account that only joined contest and never did anything else in the Steemit community then yes it would be suspicious!
If say my girlfriend joins the contest as well and she asks for tips on who to pick then I think thats totally acceptable. If I knew the outcome of soccer games trust me I woulnt be playing this contest, because Vegas would no longer exist.
So its just for fun, and looking at her account she's taking 9 Steem out of her account once and the rest she's powered up!
Of course every case is different but I would totally way rather her playing in my contest who posts about relevant and important things then just people who join contest to make money and take it out of steemit.
I do understand your points and I'm not going againts them I am just speaking what I think is fair..thats all man!
Something I've though about which might be a solution is to make a whitelist for the contest. I'm really a bit of a freak when it comes down to consistency. This could solve a lot of issues, only those who are whitelisted can enter and anyone can apply to get whitelisted. That way it would be a consistent rule and your girlfriend could play. For the remainder of the season I'm probably just going to keep things as they are.
Absolutely fair homie! I mean the seasons almost over anyways. Future seasons like you said could have a whitelist or people send over 0.001 SBD you check them out and approve them to your list if they meet the standard!
Music to my ears... I'm proud to be atop your leader board and despite several current contest players calling me out for lack of "meaningful content" their cash out buttons are pretty worn down comparing to mine. I actually do support the notion of those who don't make any real effort to power up though and spread the wealth should be restricted. Making a buck and cashing out sadly isn't only in the contest category. Many feuds are happening now from milking the teat of steemit and unfortunately it's some of the big you tubers coming over. Thanks for making this post as if we all powered up and steemit grows, the prizes could become yuuuge (insert trump voice).
Cut the bullshit. You are not doing anything to Steemit community. So what you power up your winnings? That's it? Well, that is so great effort to Steemit community that we wouldn't know what we would do without that and your great articles!...Yes, that one in 6 months...that's some effort to Steemit community.
You attacked me and several others the same day, guess what I think you are not contributing anything worthy. Why don't you analyze all the other contest players thoroughly and harass them, as I'm trying to move on from your manipulation/b.s. games. I need more than a mute button to get away from this nutjob.
Yes, I attacked 25 rep without post...is that wrong? xD
I did analyze some other contestants, they have at least 10 posts.
You want to say that one post in 6 months is trying your best to give to Steemit community?
Since showing up on Steemit 39 days ago, I have entered every contest I could or that I had an entry for. I have won about 7 or 8 SBD that has all gone to powering up. And I have hosted two that has gotten me 50 or so followers. All a win, particularly when things were a little slow with the blog posts. I'm a contest fan!
Great to hear, I did exactly the same when I started. It really helps those who want to grow.
I started that way too, then making comments on posts I liked, powering up along the way. The more we power up, the bigger the prize.
First, thank for the mention
It s hard to draw the line
I do everyday contest but i have no restriction but i will add some like a minimum lv 35 . but my payout from my contest is low for now is not a problem
I like your change of rules.
Yes, hosting a contest is probably one of the best ways to give back when playing in a lot of them yourself.
bruzzy, I like (and play) your contests but at times they show what I've been saying: if people don't power up, they're not giving back. 20+ people battling for a dime is discouraging to the player which isn't on you. The noobs deserve a shot to make something somewhere, just people with ranking and no vote power is discouraging.
First of all, I didn't win 45 SBD in last 3 months, you made mistake there. Second, I already said @vicspics is the biggest abuser of sport contest. He didn't make one post since he joined Steemit. That one he made, he did because I noticed him on every contest and yet in 6 months he didn't have ONE post. That is to me the biggest bullshit. All the other names on this list had many posts and did try to make effort and contribute to Steemit. I understand your issue, but if @vicspics can play, then everyone should be able to play.
First, going back around 3 months you did win around 45 SBD+. I could go over it a 3th time and list all the winnings but that would be a waste of time as it's beyond the point.
Lets break down to arguments and go by rhetoric and logic.
Basically what you are saying is that you need to contribute to steemit by making posts in order to play contests.
The argument of needing posts imo quickly breaks down when asking these questions.
Two questions for you:
You want to say cashing out from Steemit is something bad?
Not posting at all is ok?
And yes, I'm saying that contribution to Steemit is posting about stuff you are interested in. It seem you are saying it's only important powering up and nothing else.
I never said anywhere that cashing out from Steemit is bad in every context. I only say that if you are active on steemit and earn most by playing contests it can be considered abuse if you cash most of it out without at least powering up a bit and give back to the community. (Where you draw the line is where I struggle with)
Yes, not posting at all for me is ok. What is more important is bringing some kind of value to the platform which does not need to come from making posts. It can be from making good comments, curation, bringing others to this platform or playing contests and lock up your winnings so you contribute by taking steem out of direct circulation and contribute more to the prize pools from contests you play in. (I'm not saying this is an optimal way to bring value to this platform)
I do believe powering up to a certain level (what that is is debatable, but does not have to be massive) before starting to cash out some is probably more important than making posts. If everyone was here just to make posts about stuff they are interested in, steem would be completely worthless.
I agree we should support this platform by powering up. But must disagree with you that posting at all is ok. You say that value to the platform can be done thru comment...well on what post those comments should go if no one would post?
I'm on opposite sides from you on this. You think that value of platform can me measured only in the money and not about posts. If someone see that his post can have monetary value, he will join Steemit. And so what he cash out some of the Steem? When someone is posting about stuff he like and he is awakening people with his post while meanwhile cashing out, does that make him bad? In my opinion not because we all need money in our real life. What is the point of Steemit then earning money so it can help you in your real life? Is it bad to say that Steemit money helped you in real life? Don't see anything bad about it.
Value of the platform can also be seen in quality of post. When someone wants to join Steemit, he will for sure see what quality of post are on Steemit. If you say that 0 post is ok, then we all can write bs comments and upvote ourselves. That will make monetary value, but quality of Steemit will be at 0 and it will lead monetary value to 0.
I will give one example:
One dude is writing articles on Steemit about subject that will help many people reading those articles. He earn money for those post and most of that money he cash out because he need money for all kinds of expenses, so he can continue to help other people in real life.
Second dude is not writing about anything on Steemit. Most of his comments are on contests. His contribution to Steemit is close to 0. Most of his earning he leaved on Steemit for now, some of it he cash out.
This is where we disagree basically. To you second dude is more valuable then first one. To me that is opposite, because first one even cash out he helped people and will attract new users which will realize they thought and ideas will be appreciated in monetary value.
show your madness to the steemit world.....please get help
One article in 6 months say it all.
Dude, you have one post and only 20 resteems (13 from two people) in 6 months. Not only you don't contribute to Steemit community, you also don't resteem post from anyone. I already said to you that Steemit is not only about receiving, it is also about giving back to community. Now you gonna say, but I power up some earnings here and that is all I need to do. Like few cents more in community is more valuable then sharing your knowledge, opinions or whatever.
Real mature judging my content as if you are the judge, jury, and executioner of what is worthy. So I'm not allowed to comment on peoples posts either? Go to facebook if you want censorship. WTF, get help.
OK dude, we all shouldn't post and just play sport contests. If someone mention that to us, we will say he need help. It's a deal?
I somewhat do agree with this. Does powering up and saving it all to just withdraw it all at once one day mean you're giving back to the community? I'd say no.. but yeah its quite sad that some people strictly just contest whore it up here on steemit.
I agree people manipulate it in many other forms as well and take advantage of it, but since I follow the sports community the most thats what I notice. I've won a few contests and now I'm trying my best to give back. So donating 10 Steem right now for a March Madness contest!
Like @vicspics won't cash out. Don't saying that is bad because we all need money to survive. But if criteria is contribution to Steemit, he would probably be on bottom. Don't have anything against the guy, but be honest 1 post (because of me) in 6 months is not contribution.
No yeah I completely understand that. I mean I take part in contests as well quite a few actually but I try and give back as much as i can as well. Join certain communities..etc.
yes, because actually @photo-moment has normal SP (not around zero) and give to contests some value. In fact, he is not "newcomer-just-cashouter"
and really steemit was invented for earn money. In other case, facebook still working)))
and imagine that you will have 100 000 SP or more, what will you do? will you to power down and withdraw? everyone can suddenly die with such treasure and even possibly write on your grave - did not manage to spend 100,000 SP)))))
or imagine that steem and sbd will be cost 1 satoshi, what will you do?
so it is a normal way to win and withhraw, but with the help of rules you can limit the participants of your contest
Based on your and @stimp1024's thoughts i killed my headache about the fair distribution of winnings. So in my contests i use this rules
And also add a dialogue with @papakli
It seems to me that such a division of the prize pool should stimulate the pumping of its SP, in other case "newcomer-just-cashouter" will receive just small prize
Thanks for the feedback barbadosso.
Normal SP to me depends on a lot of factors. If you have been here for almost a year and earned a big amout over that period by playing a lot of contests the bar is higher imo. (steem used to be a lot cheaper and easy to accumulate and SBD a lot higher -> See payouts a while back). I'm not talking really big amounts here anything above 500SP is always more that enough imo.
I don't think steemit was invented to make money, it was created as a way to create value. If everyone was on steemit only cash out it would have no value. The system only works when there is a balance between giving and taking.
Everybody will cash out eventually. Nothing bad about it. In my opinion posting while cashing out is more contribution to Steemit then 0 posts while powering up. That dude with 0 post, if he was interested in Steemit community he will post. Eventually he will power down and cash out without 1 post.