The true rake on the Party Steps - Spreadsheet Inside

[Scuba Chuck]

Before opening your spreadsheet, a first "aha" comes out in your results.

Your results show that no one should play even the STEP 5s, as they are a losing proposition. If this is one of your arguments, you've already lost me.

Edit: I've just realized your results are the inverse of the results posted in chaos' post on how the Party STEPs are not a raketrap. For example. the buyin to STEP 4 is a ~ 13-14% rake.

Ok, so you've proven what Party keeps. So what? We all know poker is a zero sum game if new money is not continually input into the machine. As it will all go to the house via rake.

[gumpzilla]

All of this is done assuming average players. Beating the rake takes skill. The average player loses money.