CHOP QUESTION
 

Please help,

A few days ago a several of us from my regular home-game decided to play a private game online. The game was .50 and 1.00 but we were paying off privately at 40X chip value.

Here's my question. When the online poker room cut the pot they were taking out .50-.75 out of any pot $5 or more. This amount is $20-30 on our payoff scale. When the game was over I was the only winner of $6.75 which was a win of $270. The combined losers owed roughly $1330. They dont think I should collect the whole amount. My point is what they owe is what they owe. We all know each other and I really dont care about how we do it this time.

Could someone please let me know how we should handle this in the future.

Re: CHOP QUESTION
 

I definitely do not think that each of the losers should pay you all their losses. The rake would have been taken from each of you, so the losers would have lost less, but you also would have lost more. Here's my solution, a little awkward to figure out, but seemingly fair; divide up the rake between everyone.

Figure out what the rake was by:
Total of all the Loser's lost money - Total of all the Winners won money = Total Rake.
Divide total rake / number of players = Rake per Person
Add the Rake per Person to each person's totals and it should all come out even now.

Quick example with 3 people:
A loses 300
B loses 150
C wins 300
Rake = 150
Rake per Person = 50
Overall = A owes C 250, B owes C 100

Sound fair?

Re: CHOP QUESTION
 

mmanne,

Thanks alot for your thoughtful and timely response. This is the direction we were all leaning anyway. It was a great game and we want to continue on Sunday evening. This should make everyone happy.

Thanks again,

pokerguru71

Re: CHOP QUESTION
 

just read mmanne post and like his thoughts, so I deleted my original reply to the question.

Re: CHOP QUESTION
 

Play .01/.02 on UB. It isn't raked and use whatever multiplier you want.

Re: CHOP QUESTION
 

"Could someone please let me know how we should handle this in the future."

play on play money tables?

Re: CHOP QUESTION
 

I suppose PartyPoker is the only site of the big four that
allows private tables, so since this is just a game between
you and your friends/acquantances, it seems okay to continue
your game there. Just refund everyone the total amount
raked x (multiplier-1)/(number of players) and everything
should balance out.

If there are enough of you to fill a table on a play money
table, that's a better possibility as there is no rake. And
as someone else had already suggested, ultimatebet micro
limits are also rake free but again, you would have to be
able to fill all the seats for otherwise you will often have
an uninvited guest!

Re: CHOP QUESTION
 

Actually the geniuses at Party rake their play money table...

Re: CHOP QUESTION
 

[ QUOTE ]
Actually the geniuses at Party rake their play money table...

[/ QUOTE ]

They have to. With all the new players signing up, the Party Play Dollar (PPD) has become so devalued against the Everquest Platinum Piece (EPP) that some imaginary economists are predicting a catastrophic collapse that could affect the entire global system of fictional currencies including the Monopoly Dollar (MD), the Final Fantasy Gil (FFaG), the Diablo II Stones of Jordan (SoJ), and the World of Warcraft Gold Piece (WOWgp - which, because this game is still in beta, not only doesn't exist but doesn't even pretend to exist yet.)

I wonder what this works out to in beads and shells.

/mc

Re: CHOP QUESTION
 

Your 40x multiplier only works perfectly in a zero-sum game; in this case a game with no rake or toke. The game you described is NOT zero sum since the house is getting a rake that you all, of course, have no intention of multiplying by 40x. You need to give each person full value for the rake that they did NOT pay. Resolving this is not easy; but let me give it a try...

I suppose everyone knows exactly how much rake each paid.

IF THERE WAS NO RAKE then the amount they would end up with is their actual result ($6.75 for you) plus the rake. Multiply that by 40x and that's your weighted result. Add all those together and you'll end up with zero.

However, you did pay rake. So take each players weighted result and subtract the actual amount of rake they actually paid. THAT'S how much money they are due or lost.

----------- Example --------------

It appears to me that there was a total of $26.75 in rake. Lets say you paid $5.10 in rake. Add that to your $6.75 and you have 11.85, now multiply by 40 = $474.0. Subtract your rake of $5.10 and you are due $468.90.

Lets say Joe paid $4.10 in rake and lost $3.00. Add together yeilds a weighted win of $1.10. *40 = 40.40. Minus rake of $4.10 = Joe is owed $36.30.

Notice that those who actually lost MORE than the rake they paid will OWE other's money; those that won more will be due money.

RI don't think you need to reconcile your on-line accounts. Everyone has already paid the rake they owe. Winners are winners and losers are losers. Notice that you were actually playing for 41x not 40x the amount.

Be sure to have this all figured out and agreed to BEFORE you do it next time. Money and Friends don't mix; ambiguous money and friends is a disaster.

- Louie