Tuesday, December 21, 2004
Posted by Junelli 1:05 PM
While at Vegas I learned that some of the higher limit tables don't take a rake. Instead they have each player "pay time" every 30 minutes. At the $10-$20 NL table, the casino charged each player $7 every 30 minutes (or $14 per player per hour). I'm not sure whether this is better than the normal rake, but it seems a little higher.
The casino is taking $140 per hour at the table (probably more than they would take with a 10% rake). Additionally, the rake is paid by each player not just the player who wins the hands. Thus, if you fold for 30 minutes straight, you're still paying $7, whereas you wouldn't have to pay any rake if you weren't putting any money into the pot. The flip side however is that if you're winning, you're not paying as much in rake, because it's being shared equally by the other players.
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Random thoughts from a lawyer, an accountant, a commodities trader, an ex-Marine and a WSOP Main Event money finisher that don't know as much as they wish they did...
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