I should start by saying that I have never used/belonged to a sugar daddy site. Mostly because my financial situation does not allow for what I understand are higher rates than the 30 min rates I usually pay for SPs I find on this site.
Having said that, I don't believe you can compare what ladies charge per hour on a SP site like LL to "evening" rate a SB might charge. The reason being is that SBs, I strongly suspect, for the mot part do not see themselves as a SP. They join a SB/SD site because they enjoy sex, are sexually liberated, and think why not have an older boyfriend with money that can buy them gifts and take them on trips, etc. Clem mentioned earlier in this thread that she and her friends started into this industry as SBs. From my conversations with some young ladies in the company of other of their friends, it appears that being a SB has MUCH less stigma attached than being an SP. Therefore where SPs see this industry as purely a business (with the side benefit of lots of fantastic sex - I can only speak for my own experiences lol ) SBs see themselves more like having a rich (relative to their financial situation) boyfriend. And therefore spending 4 hours with their rich boyfriend that throws them $300 to $500 is a very good deal compared to doing the same with a poor boyfriend that spends $50 on dinner, if they are lucky, throws them no $$$ and still gets 4 hours of their time with sex thrown in.
Over time, of course, the majority of SBs come to realize that in fact it is a business and some eventually evolve to becoming a full blow
SP. With that evolution comes the realization that "time is money" and they move to an hourly rate from an "evening" rate.
Just my perception of the difference between SPs and SBs and therefore the difference between hourly rate and evening rate
JD