Cheap Vegas tourneys - Page 2

flecks · #11 12-12-2005, 10:33 PM

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why and how do the casino's take a vig? I always thought the +25 of the $200+25 was the house's take. Don't get me wrong...that's still 12.5% of the prize pool, but they don't take anything above the "entry fee" do they?

Please inform the uninformed...

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Great question. I always thought the same thing.
Anyone?

#12 12-12-2005, 11:19 PM

The +X is what they mean when they refer to vig.

#13 12-13-2005, 08:09 AM

[ QUOTE ]
why and how do the casino's take a vig? I always thought the +25 of the $200+25 was the house's take. Don't get me wrong...that's still 12.5% of the prize pool, but they don't take anything above the "entry fee" do they?

Please inform the uninformed...

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Yes, many low limit tournaments have an entry fee and take out a percentage of the prize pool. Every casino I know of rakes the hell out of their cheap regular tourneys; although, I haven’t checked out Paris/Bally’s, which sound like a good deal.

The reason they do this is because, well, they can. I work in a room on the strip and get asked on pretty much on a daily basis what the buy-in is for the daily tournament. I have NEVER been asked what the vig is, EVER! All 99.9% of the people who play these want to know is how much it’s going to cost and how much 1st place gets. In fact many places don’t even list an entry fee (such as where I work). The tournament just costs $X to enter and then they take out like ¼ of it.

But, hey, they’re fun. It’s a cheap way to get some live experience and the typical play in these things is about as weak as it gets (many 1st time players) so a decent player can make up a good chunk of the vig by just not sucking.

#14 12-13-2005, 08:23 AM

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Remember that rebuy tourneys give you a lower effective vig than freezouts. Most casinos don't take a vig on rebuys, so the percentage of the prize pool taken out is lower.

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This is completely false. This includes the Sahara tourney.

#15 12-13-2005, 12:35 PM

Is it not a gaming regulation that you say how much you take out for the house? Where I used to work they insisted they had to list everything per gaming commission and that nothing could be changed from what was posted.

#16 12-13-2005, 03:16 PM

I played at the Sahara the other day and the buy-in was $40. There was a additional $2 option that went to the dealers and you got like 75% more chips, which everyone obviously did. No mention of an entry fee. Towards the end they posted the payouts. Again there was no mention of fees but I did the math in my head and they took out about 25%. I imagine that if you ask directly the manager would be obligated to break it down for you, but they often times don't show the break down.

#17 12-13-2005, 09:06 PM

[ QUOTE ]
I played at the Sahara the other day and the buy-in was $40. There was a additional $2 option that went to the dealers and you got like 75% more chips, which everyone obviously did. No mention of an entry fee. Towards the end they posted the payouts. Again there was no mention of fees but I did the math in my head and they took out about 25%. I imagine that if you ask directly the manager would be obligated to break it down for you, but they often times don't show the break down.

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The people who work at Sahara are too stupid to work out the math for you.

#18 12-13-2005, 09:08 PM

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Is it not a gaming regulation that you say how much you take out for the house? Where I used to work they insisted they had to list everything per gaming commission and that nothing could be changed from what was posted.

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Yes, they do say. What I am saying is they DECEIVE you by having something like $20+5 for example then in small print at the bottom it will say 10% of the prize pool goes to the staff. The 10% would get taken from the $20 only.