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#22
11-21-2007, 07:21 PM
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Re: What is a Fair Rake?
[ QUOTE ]
37% up to $1 million. [/ QUOTE ] thats about what we have here in Texas (where TX-HE isn't legal dammit). Its quite common for the rake to be 10% up to $10, plus a $2 bad beat jackpot drop per hand. Damn underground cardrooms but what can ya do.. You CA/NV ppl are spoiled rotten.. BB 
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#24
11-21-2007, 07:38 PM
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Re: What is a Fair Rake?
I don't play blackjack too often, but at 2% edge (basic strat is 1%?), the table would have to produce $5000 worth of bets per hour to be worth $100 to the casino.
I'm sure friday/saturday night this happens, but on average, I see a lot of BJ dealers standing around doing nothing, or dealing HU. on a per-table weekly basis, I'd take a random poker table over a BJ table or craps table, and even lay odds. Not an expert, but going with my gut here. What do you think?
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#25
11-21-2007, 09:08 PM
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Re: What is a Fair Rake?
[ QUOTE ]
I don't play blackjack too often, but at 2% edge (basic strat is 1%?), the table would have to produce $5000 worth of bets per hour to be worth $100 to the casino. I'm sure friday/saturday night this happens, but on average, I see a lot of BJ dealers standing around doing nothing, or dealing HU. on a per-table weekly basis, I'd take a random poker table over a BJ table or craps table, and even lay odds. Not an expert, but going with my gut here. What do you think? [/ QUOTE ] I think that you're missing a key element in your analysis. Poker revenue is steady table vs. table. What I mean is, a full table playing "X" size game is going to generate "Y" revenue per hour. If the game is played at 100X size, the casino may realise 1.5Y or even 2Y. The beauty of gaming as a business model is that it is one of the few (if not the only) endevours where diminishing utility returns don't really apply. If anything, the opposite is true. One's desire to consume (gamble) is in proportion to one's resourses. The more you have, the more you must bet to get that excited feelin' deep in your innards. The point is, there's a reason you see dead spreads all over the place out in the pit and you see lists that are 20+ names of people waiting to play in the poker room.
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#26
11-21-2007, 09:48 PM
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Re: What is a Fair Rake?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] Considering minimum wage is like $6.50 an hour, i think $3 per hour per person is fair. [/ QUOTE ] I think the casino has quite a few more costs than just the dealer's salary. Floorpeople, security, management, heating & A/C, taxes, electricity, cards, chip runners, cage workers, etc...plus, they also "need" to turn a profit, or else, why would they be there in the first place? To set up a "fair" game for you & me??? I don't think so. [/ QUOTE ] In some markets, the casino lobby pushes through laws that ban playing poker in home games. Since they have secured a monopoly for themselves then they should have to make it fair. Whether they do or not is another issue. [/ QUOTE ] Can you give me one instance of poker home games becoming illegal only after the legalization of casino poker? [/ QUOTE ] No I don't know the legal history that well. I have heard places in the West, Texas and Oklahoma started cracking down on poker games after casinos opened rooms. Also there is an amendment in Mass. that would ban online gambling as part of the casino bill.
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#27
11-21-2007, 09:52 PM
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Re: What is a Fair Rake?
Agreed.
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#28
11-21-2007, 11:54 PM
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Re: What is a Fair Rake?
$1/hand? Wow if only... I'm also in TX and we take our underground poker at the price it is offered unfortunately.
That means a 1/2 game with sometimes less than $1k total on the table and $5max 10% rake + $2 of jackpots for $7/hand possibly coming off the table. Not counting the jackasses that tip $5 when then win a big pot. Yep, possibly > 1% of the money on the table gone each hand due to rake + tip - brilliant. I go to OK and they have $6max on 2/5 and it feels like a friggin sale.
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