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Old 02-06-2005, 11:26 PM
Tboner7 Tboner7 is offline
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Join Date: Jan 2005
Posts: 256
Default Re: Put myself into debt because of online poker

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Yes...I definitely consider casinos to be 'gambling' with their money.
A well run organization will have enough capital to withstand the fluctuations and will control the situation as much as reasonably possible.


For example, I worked at a low-roller casino for a few months.
There was a stumbling drunk betting monsterously large for our place. Incredibly drunk and stupid...bizarrely so in fact.

Anyway, he was hanging out at the roulette table and kept wanting to put 2 or 3 purple chips on whatever his favorite number was. At 36-to-1 that's a $36k payoff if the casino accepted his $1k bet. But I think the max bet is $50 or $100 or something...so on EVERY spin he would push his purple chips out there...and on EVERY spin the dealer would push them back and say 'no bet' and the floor would explain to him that he wasn't allowed to bet that high on roulette.


Even though the casino is getting the best of it and it's +EV it was more than the casino was willing to gamble (they could have accepted the bets if they wanted).

if he hits just a few times it is really damaging to the bottom-line.
so the casino decided 'nope, this GAMBLE is not in our best interest.'

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They put a limit on how much you can bet on roulette because you CAN win at roulette. BUT only IF the maximum limit is high enough and the low limit is low enough.
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