Hosting Black Jack - Page 2

ThinkQuick · #11 03-16-2005, 05:49 AM

Hey house edge, schmouse edge. Haven't you guys ever seen the way that non 2+2ers play blackjack? You get a few of these guys and a minimum bet per hand and it really is +EV and worth the time. Set up a max too if you're worried about going bust.

As for negotiating with your friend, NEGOTIATE with him. A reasonable rate would be the lowest that you could possibly pay him, presuming that you are still making a profit. Maybe a good way to negate bubbafry's problem is to pay him every (as long as possible) instead of every game. That way he gets his cut and you don't have to pay him big when variance is in your favour. He can count the chips every day and keep track himself if he wants.

lefty rosen · #12 03-16-2005, 06:05 AM

If the guys suck at poker it's not like they can be any good at BJ. So book their action and win. Just cap their max bets at a low end so they don't lose too much and you don't risk too much. Just keep it in a tight circle, otherwise eventually you will get busted.......

bubbafry · #13 03-16-2005, 07:34 AM

[ QUOTE ]
Maybe a good way to negate bubbafry's problem is to pay him every (as long as possible) instead of every game.

[/ QUOTE ]

I guess the question is how long is enough? You know he's going to turn a profit for sure as long as he is +$ for each payment period (he could have some -$ periods and still be up, but that's too complicated for my puny brain). His friend's cut hurts him the most when he has big +$ periods and big -$ periods. So the trick is to figure out how long he has to go between payment periods to ensure he is +$ each time, which depends on how sure he wants to be.

Assuming a house edge of 0.5% and a standard deviation of 1.2 units per bet, after 2304 bets he would be +$ about 95% of the time (2SD's). If an average player plays 60 hands/hour and you have 3 players, that would be 12.8 hours of blackjack. So, I suppose if he deals 3 hours/week on average, then he could calculate his profit every 4-6 weeks and take his friends cut from that.

I have a headache...

Fins · #14 03-16-2005, 10:36 AM

I would give him somewhere in the neighborhood of zero, squat, nada... I'm with the f him if he won't back the bank. If he does than it's a straight %... backs 25%, then 25% of take. I think Blackjack's a lot of fun but you can definitely have some big swings.

- Fins

SugarV · #15 03-16-2005, 05:01 PM

I agree...no backing, no cut. F'em.

When I hosted blackjack, $1 minimum $30 max. Every now and then I would let someone make a $50 or $100 bet. Mostly everyone stayed around 1 or 5. I ran it about 4 nights a week. The take per night was about $350-400.

I say go for it. I paid for custom chips for the table in a week and a half, running a great game.

sv