|
|
#22
06-30-2005, 01:28 PM
|
|||
|
|||
Post deleted by Mat Sklansky
|
|
#23
06-30-2005, 02:19 PM
|
|||
|
|||
|
Re: Part-time income from hosting high stakes home tourneys?
Check out this thread from about 1.5 months ago...
LA Game Busted Like I said before, I feel that the police getting involved in things like this is way overkill... BUT they do so I digress. This was also taken from a related post ands talks about the bust as seen on the news... [ QUOTE ] Great story last night! As many expected, this game was targeted because the host was raking the pots. The LAPD said that Poker is not legal, but they're not going to go after regular home games. Excellent news, I can list may game on the internet again. I still think it's lame that all the players were cited. I think in this case, everyone should be let off with a warning, hopefully at least the absolute min. fine. I'd still like to hear from the host. Let me know if he's in court. I doubt they'll give him all his equipment back though. [/ QUOTE ] BTW, many casinos do offer "free" food as part of the rake, let alone the drinks, chips, dealers, security, the room, and 10-30 tables on average where you have your choice in what game you want to play (against many fish I may add [img]/images/graemlins/grin.gif[/img] ).
|
|
#24
06-30-2005, 02:22 PM
|
|||
|
|||
|
Re: Part-time income from hosting high stakes home tourneys?
I live in California. It is legal here to run a home poker game (local ordinances may overrule this) as long as the house does not profit IN ANY WAY except in playing the game. We cannot charge an entrance fee, a fee for food, a fee for drink, or fees of any kind for anything. The law is written like this to assure there are no loopholes. If you make money in any way other than game play, you are breaking the law. BTW, I run a weekly tournament night, 2-3 tournaments, $10-$20 buy in, $0 entry. BYOB.
That being said, a $25 entry for a $200 buy-in is reasonable. What your buddies pay now at the casino (you weren't too specific) would be the most you could charge. You may want to give a slight discount from what the casino charges though since you don't have all the lights, glitter and glamour. Maybe you get your wife/girlfriend to wear some fishnet stockings and be a waitress? Figure 10 players, your tournament is going to last about 2-3 hours (you can adjust this based on how fast your blinds go up, you can more info at homepokertourney.com). If $150 profit for 3 hours work is good for you, than you got a good thing, however, when figuring it out, make sure you figure in the risk part of the risk/reward balance...is it illegal where you are? Very likely. You may want to call your local police department to find out. If it is illegal, you may need to bump up your entry fee to tilt the reward side due to the additional risk. If this makes the entry fee too much for players, well then you have your answer. Its basically a supply/demand thing. You can charge as much/little as the market will allow. Too much, people go to the casino, too little and you don't make any money. One other important thing....security. Imagine you get this going. Your bookie friend tells a friend that there is a great game going...10 guys, $225 each, great atmosphere, free beer, blah,blah,blah. The friend starts doing the math and figures his own risk/reward. Jack the game=$2K. Risk?....not much, who is gonna call the police when your illegal gambling game gets jacked. I hope this helps....good luck. Kevin
|
|
#25
06-30-2005, 02:32 PM
|
|||
|
|||
|
Re: Part-time income from hosting high stakes home tourneys?
[ QUOTE ]
BTW, I run a weekly tournament night, 2-3 tournaments, $10-$20 buy in, $0 entry. BYOB. [/ QUOTE ] Where in Cali? I've been looking around and have one person so far who is close to me.
|
|
#28
06-30-2005, 03:31 PM
|
|||
|
|||
|
Post deleted by Mat Sklansky
|
|
#30
06-30-2005, 04:04 PM
|
|||
|
|||
|
Thoughts from a Canadian
(1)Would this be illegal? No question. You cannot charge a vig. at a homegame. I do however know of a club here in Winnipeg that is allowed to run games and charge a vig as long as the vig. less expenses goes to charity, and they aren't allowed to profit from liquor sales per the liquor commission.
(2) Are the cops likely to bust your game? No (3) Would you go to jail if you did get busted? Not likely, let's face it, in a country where a guy who curb stomped someone to death gets out of prison after 3 years and people laugh at the cops when they threaten to bring them in on marijuana charges, the penalty for charging vig. at a home game will probably be a fine. (4) Do you have bigger problems to worry about? For sure, are these guys friends of yours? if they are I don't think they would appreciate an excessive charge. If they aren't friends of yours, you risk getting robbed when significant money is involved. Conclusion, don't do it. If you want to host tournaments, have everyone pitch in for the food and drink but don't charge or take a rake, and make sure you know people before allowing them into your home when there is significant money at stake.
|
 |
|
|
Linear Mode
