"Doing Business" question

[dibbs]

If you're well bankrolled you shouldnt have to worry about it. I've done it just to make certain players that I never want leaving my game happy, however.

[arod15]

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If you're well bankrolled you shouldnt have to worry about it. I've done it just to make certain players that I never want leaving my game happy, however.

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I agree, and its usually donkies who offer it anyways. I will accept it usually but have yet to offer it....

[TakeMeToTheRiver]

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Will all rooms honor doing business, or are there some rooms which do not allow this?

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I am pretty sure that some rooms don't allow it. It often slows down the game since one person typically has to be told what it means to do business and then they think about it somemore and then the dealer has to divide the pot in half or in thirds or whatever the agreement is for.

[otnemem]

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I believe another term for this is to "run it".

I actually heard of this for the first time last week. I had pocket kings and pushed all in on the flop. My opponent had a flush draw, he asked if i wanted to "run it".

1st run: he makes his flush
2nd run: I get a king on the river.
3rd run: i get another king on the river.

I won 2/3 of the pot. not bad considering i was all in and he would have won with his flush had i not agreed to "run it"

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Not to be nit-picky, but it's actually "run it twice" or "run it three times," etc, not just "running it."

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Like I said in the post, it was the first time i heard it and I was asked if I wanted to "run it", I guess in the room I played at, it's a standard run 3 times.

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Most other places it's not.

[Randy_Refeld]

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Will all rooms honor doing business, or are there some rooms which do not allow this?

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I am pretty sure that some rooms don't allow it. It often slows down the game since one person typically has to be told what it means to do business and then they think about it somemore and then the dealer has to divide the pot in half or in thirds or whatever the agreement is for.

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Running it multiple times was introduced to spped up the game. Running it two or three times is much faster than the old insurance deals (or scams).

[lapoker17]

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its usually donkies who offer it anyways

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From my experience this is far from true.

If two players are interested in "doing business" wouldn't they be just as interested in splitting the pot based on equity percentages?

Of course, you would have to base the equity numbers by assuming a random deck, whereas the play of the hand may clearly indicate the contrary (i.e. -- a good chance that someone folded AK,etc). This information and the ability to offer equity splits could be exploited by the more astute players at the table.

[Randy_Refeld]

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If two players are interested in "doing business" wouldn't they be just as interested in splitting the pot based on equity percentages?

Of course, you would have to base the equity numbers by assuming a random deck, whereas the play of the hand may clearly indicate the contrary (i.e. -- a good chance that someone folded AK,etc). This information and the ability to offer equity splits could be exploited by the more astute players at the table.

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This stuff is hard to figure out, so they started running it two or three times instead of holding up the game.

It is hard to do only because it has not been made easy to do. I see no difficulty in implementing something like this into a home game -- all you need is a computer. But you are right, in a B&M scenario, this is not practical.

If I was ever propositioned to "do business" I would ask for a premium. Clearly, your opponent is short-run focused or risk-averse -- either way, he might be willing to accept a 5% cut right off the top. Agree?

[Randy_Refeld]

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It is hard to do only because it has not been made easy to do. I see no difficulty in implementing something like this into a home game -- all you need is a computer. But you are right, in a B&M scenario, this is not practical.

If I was ever propositioned to "do business" I would ask for a premium. Clearly, your opponent is short-run focused or risk-averse -- either way, he might be willing to accept a 5% cut right off the top. Agree?

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Well you can take the premium (the insurance men always did), but you can stil get scammed even when you think you have a premium. Say you and I are doing business. One of my firends signals to me that he folded 2 of the outs; now I have more info than you do and I can let you think you are gettign a premuim. Sometimes when doing business in the old days they woudl agree to look through the muck so they would know the number of outs based on that. Typically additional players would get involved; normally the palyer in the had had the first right to sell insurance, but if he wasn't interested often another player (or even a spectator) would offer insurance.