Would you like to know which of the top upvoting bid bots give the maximum payout back to delegators because this will be useful the next time you have Steem Power you want to delegate for profit?
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This is a post that took me quite a long time to write because I had to collect a lot of data, calculate and analyze, so I can present you accurate figures for each of the top bots I looked at.
I originally did that selfishly for myself to know what my returns were for two upvoting bots I delegated to, 
When I first delegated to
In the contrary, I originally delegated to
I decided to extend my research to other top bots as well to see if I was right to delegate to these two bots, and see if I had other better possibilities. It is what I am sharing with you today.
If you only want to read the results without the details on how I came up with them, go to the "Conclusion" section of this post.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
Let's have a look first at the top upvoting bots I decided to look at.
I went to https://steembottracker.com and started to collect data for the bots having more than $60 in vote value.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
The data was collected on June 2, 2018, and as the value of STEEM and SBD is always changing, these values will be different if you look at them today. However, all the data in this post was collected on the same day, so it can be fairly compared.
I made this table and I sorted the bots by "Vote Value,"
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
The bot with the highest vote value is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
I wanted to know for this one as well because I have 400 SP with them, this might be useful for you. It has the lowest vote value of all.
The next step was to know more about delegators, SP and VESTS delegated, and if they are open to delegations.
I used this tool for each of them: https://helloacm.com/tools/steemit/delegators/
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This gave me the number of delegators, the amount of SP and VESTS delegated for each bot.
This also showed me that certain bots have very few delegators.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
I have marked 
We are left with 10 upvote bots that we can delegate Steem Power to, and that I used in my case study.
My process to collect data and calculations
Instead of looking at what each upvoting bid bot is advertising for their delegators, 50%, 80%, 90%, 95% or 100% daily payouts with or without reward sharing, information which is not even easy to find for some of them, I decided to just look at the wallet of one delegator for each bot and see what they earned in a 7-day period according to their delegation in Steem Power.
For example, I went to https://steemworld.org/@postpromoter and clicked on the "Delegation (In)" tab. There, you can see who the delegators are and what amount of SP they have delegated.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
I chose one delegator in the list with more than a thousand SP and went to their wallet to collect data for a 7-day period.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
Some upvoting bots pay SBD and STEEM daily, some pay only SBD, and one pays several times per day. I collected all this data in a spreadsheet and as every delegator has a different amount of SP delegated, I calculated an equivalent for 1,000 SP for every bot.
This is how I collected the data in a spreadsheet.
In this case we had daily payouts in STEEM and SBD.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
If the delegation is 2,500 SP, and the payout for 7 days is 16 SBD, I have the following for 1,000 SP:
16 ÷ 2,500 x 1,000 = 6.4 SBD (for 7 days)
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
The payout is different each day because it depends on the bids users made, and having a value for 7 days makes a good average.
I then calculated the revenue for one day like this:
6.4 ÷ 7 = 0.914 SBD
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
I did the same thing with payouts in STEEM.
I then multiplied the daily value with 1,000 SP delegated by 365 days for payouts in SBD and STEEM. This assumes that the average payout will stay the same for a year.
0.914 x 365 = 333.714 SBD
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
Finally, I divided the SBD value by 1.3, which is the current rate of exchange, and added it to the STEEM, so I could have a final value in STEEM and calculate the final APR.
29.513 + (333.714 ÷ 1.3) = 286.216 STEEM
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
286.216 ÷ 1,000 x 100 = 29% APR (rounded up)
I hope that this helps understanding all the calculations I made in this case study.
The bid bots data and calculations
Ordered by "Vote Value" for the case study.
The first bid bot is
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD.
I picked delegator 
For 1,000 SP this gives us 0.225 STEEM and 5.427 SBD for 7 days, 0.032 STEEM and 0.775 SBD for one day, 11.727 STEEM and 283.000 SBD for one year, which equals to a total of 229.419 STEEM per year.
The APR is 23%.
The second bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD.
I picked delegator 
For 1,000 SP this gives us 0.155 STEEM and 5.888 SBD for 7 days, 0.022 STEEM and 0.841 SBD for one day, 8.069 STEEM and 307.006 SBD for one year, which equals to a total of 244.227 STEEM per year.
The APR is 24%.
The third bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts only in SBD.
I picked delegator 
We already have 1,000 SP and this gives us 0 STEEM and 0.784 SBD for one day, 0 STEEM and 286.004 SBD for one year, which equals to a total of 220.003 STEEM per year.
The APR is 22%.
The fourth bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD.
I picked delegator 
For 1,000 SP this gives us 0.375 STEEM and 5.481 SBD for 7 days, 0.054 STEEM and 0.783 SBD for one day, 19.533 STEEM and 285.772 SBD for one year, which equals to a total of 239.358 STEEM per year.
The APR is 24%.
The fifth bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has payouts in STEEM on some days and everyday payouts in SBD.
I picked delegator 
For 1,000 SP this gives us 0.323 STEEM and 6.242 SBD for 7 days, 0.046 STEEM and 0.892 SBD for one day, 16.860 STEEM and 325.499 SBD for one year, which equals to a total of 267.244 STEEM per year.
The APR is 27%.
The sixth bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD.
I picked delegator 
For 1,000 SP this gives us 0.580 STEEM and 5.009 SBD for 7 days, 0.083 STEEM and 0.716 SBD for one day, 30.225 STEEM and 261.203 SBD for one year, which equals to a total of 231.151 STEEM per year.
The APR is 23%.
The seventh bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD.
I picked delegator 
For 1,000 SP this gives us 0.278 STEEM and 6.333 SBD for 7 days, 0.040 STEEM and 0.905 SBD for one day, 14.522 STEEM and 330.215 SBD for one year, which equals to a total of 268.533 STEEM per year.
The APR is 27%.
The eighth bid bot is 
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has several payouts per day in STEEM and SBD.
I picked delegator 
I had to collect all data day by day for this bid bot and payments in STEEM are quite irregular.
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
For 1,000 SP this gives us 0.597 STEEM and 5.321 SBD for 7 days, 0.085 STEEM and 0.760 SBD for one day, 31.129 STEEM and 277.470 SBD for one year, which equals to a total of 244.567 STEEM per year.
The APR is 24%.
The ninth bid bot is
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD with a bigger STEEM payout once a week that includes rewards.
I picked delegator 
For 1,000 SP this gives us 1.765 STEEM and 6.499 SBD for 7 days, 0.252 STEEM and 0.928 SBD for one day, 92.022 STEEM and 338.887 SBD for one year, which equals to a total of 352.704 STEEM per year.
The APR is 35%.
The tenth bid bot is
Case Study: Which Top Upvoting Bots to Delegate to for the Highest Daily Payout?
This bid bot has everyday payouts in STEEM and SBD.
I picked delegator
For 1,000 SP this gives us 0.615 STEEM and 5.773 SBD for 7 days, 0.088 STEEM and 0.825 SBD for one day, 32.068 STEEM and 300.995 SBD for one year, which equals to a total of 263.602 STEEM per year.
The APR is 26%.
Conclusion
This last table shows the payout in STEEM for one year and the APR for each bot if you delegated 1,000 SP.
RANK
BOT NAME
VOTE VALUE
TOTAL STEEM/YEAR
APR
1
$82.99
352.704
35%
2
$109.27
268.533
27%
3
$194.54
267.244
27%
4
$48.68
263.602
26%
5
$96.40
244.567
24%
6
$599.11
244.227
24%
7
$325.84
239.358
24%
8
$190.21
231.151
23%
9
$603.14
229.419
23%
10
$473.51
220.003
22%
There is a clear winner here for delegating Steem Power if your goal is to make the maximum profit.
The
The
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The other bid bots have a 22% to 24% APR.
Now, you may prefer to delegate to bots with a lower APR if your goal is not to make the highest profit, but participate in whatever community projects they may have, that is up to you.
I hope that this case study is useful for you to decide which bid bots to delegate to for maximum profit.
Would you upvote this post and follow me for more because this will encourage me to write more Steem case studies like this one?
Would you please help
Michel Gerard
This post I took from