They are pulling in rebuys for gratuity and admin for this event. Does anyone know what % of house take this equated too? http://avicasino.com/hothotBJT.htm
Avi EV Avi website says 100% payback of all entry fees, all rebuys will be reserved for administration fee and dealer gratuity. Says $10,000 payout dependent on 336 entries. So apparently payout is NOT guaranteed? and EV stinks if you do a rebuy?
I doubt they will get the 336 players, btw 336(30)= $10,080 lol, maybe 150 at best so its likely a 5k'ish tourney at $30 entry with at least 25% house charge including gratuity! Maybe they have been reading this board about trying new things LOL If it were for sure 2/7 advance it would make it look better.
AVI Event If I win, I will not tip. I prefer it that way any ways. You guys have got to change the way you think if you want tournaments. The casinos have got to pay their bills. They are not going to run these events for FREE like the vast majority want them to. They do not wish to gamble any longer. I would rather give them 25% off the top than play their lousy table games or machines. That is just 1 man's opinion... I will be there to enter and rebuy if I do not make the 1st round.
It Depends On the Structure Your 25% guess is probably about right, but you really need to know more about the structure of the tournament. Are multiple rebuys by one person allowed? If you rebuy, are your chances of advancing the same as for original entrants? Depending upon how attractive the rebuy option is, you might get wildly different amounts of rebuys. My experience has been that a lot of players tend to rebuy whether it makes sense to do so or not.
Rebuys I have stated many times that I am ok with a reasonable rake. Poker tourneys rake anywhere from 3% to 15% and I can live with that range. But taking ALL the rebuy money for 'administration' and tips? And I doubt the majority of it is going to the dealers. We are talking about, what, potentially as much as a 25% to 50% rake, depending on the number of rebuys available. That's state lottery rip off range.
Agreed 100%. The key word is "reasonable". As one who has promoted competitive events many times in the past, I can tell you that smaller entry fee / prize fund events will cause a larger % rake. Most tournament operating expenses will not change no matter how large (or small) the prize fund becomes.
What is too much My suggestion is do not play but tell them why. They must establish what is reasonable, not us. We do not know their cost structure, but if there are no guarantees, then they have very little risk. I confirmed that the structure explained on this site is correct. The problem I have with it is if they get a small turn out there will be more rebuys. I do not understand the math anyways. I called and they told me that they have 6/ 1st rounds available with 8 tables of 7. If they have a huge crowd, then there will be no room for rebuys. If they sell out the casino will not make any money and neither will the dealers. This makes no sense to me at all. A simple breakdown of the entry fees would be so much better such as 23.00 prize fund, 5.00 admin, 2.00 to the dealers. Rebuy could be 10.00 prize fund, 3.00 admin and 2.00 to the dealers. The casinos product is gambling but they only want sure things. Sahara takes 25-30% for their daily poker tournament with NO COMPLAINTS!
Nice to Get Away from Vegas.... askdick: I guess we'll find out real soon how this plays out. At any rate, looking forward to doing BJ Battle with you again in Laughlin as we take our little getaway for this tourney. Skipper :cheers
If the Avi sold out the tourney I would be amazed. My guess is 150 max. If there's a lot of rebuys they could almost make the same for the casino as the players prize pool. Depending on how many they advance off each table. During the snow bird season they take 1/7 but summer time they take 2/7. This casino runs good tournaments. If I had time I would be there. ....
Gonna Miss You.... Barney: It won't be the same without you around in laughlin during this tourney. Gonna miss you, but will look forward to seeing you at the next tourney there. The few of us from Vegas who will be making the drive will keep you posted as to the tournament happenings, etc. Skipper :cheers:
AVI Sold out??? What a joke. I guess their experment worked...most people will not show up when they are clearly getting ripped off. Most of us knew the math was not there but had the need to visit this place regardless. The end result was that they barely went over 50 entries for the 30 bucks and probably had 125 entries for the house and the dealers. 10K prize fund!!! they barely made 1K. First place paid a bit less than 700.00 and if you were there at the end and played 1 time you received a wild card for the semis. I can assure you that they were talked to by many regarding the format. I will say it is a very nice casino in a beautiful area of the U.S. and needless to say a whole lot of American history.
I thought they would bring more than the weekly mini which is over 50. The best way to attend a BJT there is to come in for 3 nights play the mini on Tues play the free VP tourney on Weds. and the mini on Thurs. The mini entry is 10$ and 10$ rebuy with 2/7 advance during summer. During snowbird season too may players and 1/7....
