Blackjack Tournament Rake

I have never played in a Blackjack Tournament but think I might like to try. I have become aware that at least some (if not all) Blackjack Tournaments have a casino rake. How does this work?. I don't understand this since there is no pot like in poker. Any help or tips would be appreciated.

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I'm hoping to play in my first BJ Tournament next Fri night. It's a small tournament with a low entry fee and a small prize. I figure it will do fine for a learning experience. I'm looking forward to it. I would love to place in the money. I figure winning would be way to much to expect lol.

Quote: rh17000

I have never played in a Blackjack Tournament but think I might like to try. I have become aware that at least some (if not all) Blackjack Tournaments have a casino rake. How does this work?. I don't understand this since there is no pot like in poker. Any help or tips would be appreciated.

Just look at the entry fees versus the payouts. The payout pool should be exactly the entry fee times the number of players. This is 100% player equity, and is the way it should be done. If the casino is taking a cut, you shouldn't play. Some casinos do an optional dealer add-on which is fair. (Most players take the add-on).

It depends on what type the tournament is. Normally the buy-in have a fee included, and usually is 10-15%.

Say the buy-in is $22: then $20 goes to the pot (total amount of buy-ins) and $2 goes to the rake (house fee).

Some tournaments have minimum guaranteed prizes, or fixed prizes. - These can be +EV events if total number of buy-ins + fees are lower than the guaranteed or fixed prize. But, at the same time, tournaments with fixed prizes (say $1000 fixed prize payout) can have a higher rake than the initial one if the number of buy-ins exceed the fixed prize. I`ll take same example $22 buy in where $2 is supposed to be the fee: - if the number of total buy-ins will be higher than 50 then the house will have a fee higher than $2 for this event since it is a $1000 fixed pool and exceeding buy-ins are not added to the pool. On the other hand, if number of total buy-ins is lower or equal with 45, then this is a +EV event because the number of total buy-ins + fees is lower than the guaranteed amount.

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The tournament I plan to play next week is a $20 buy in and $20 re buy in. The first place prize is $1500, 2nd $225 and $500 promotional Cheques, 3rd $75 cash and $200 promo Cheques, 4th $150 promo cheques, 5th $100 promo cheques, and 6-10th $50 promo cheques. It's advertised as limited space first come first serve.

I wish I has some information concerning the rules of the tournament, how many decks will be used, how many max players, how many players advance each round, and how many chips you start with but none of that information is avaliable. I am supposing the promo cheques you get allow you to play at any of the BJ tables but the promo cheques get taken win or lose. Can anyone verify if I'm right about that?

Quote: Mikey75

The tournament I plan to play next week is a $20 buy in and $20 re buy in. The first place prize is $1500, 2nd $225 and $500 promotional Cheques, 3rd $75 cash and $200 promo Cheques, 4th $150 promo cheques, 5th $100 promo cheques, and 6-10th $50 promo cheques. It's advertised as limited space first come first serve.

I wish I has some information concerning the rules of the tournament, how many decks will be used, how many max players, how many players advance each round, and how many chips you start with but none of that information is avaliable. I am supposing the promo cheques you get allow you to play at any of the BJ tables but the promo cheques get taken win or lose. Can anyone verify if I'm right about that?

If you're lucky, the promo checks will be "non-neg" chips that play until they lose. They are worth close to face value

More likely, they are the standard "promo" chips that are taken from you win or lose. In that case they are worth about half of face value, unless they let you play them on long-shot wagers like a single number in roulette (usually disallowed).

Only way to know is to ask!

Thanks for the reply. I actually called today and talked to someone concerning the tournament. It is a four round tournament with a max of 90 players. It will be dealt from a hand shuffled 6 deck shoe. They are running this tournament every Fri throughout the month and they said it hasn't been full the last couple of weeks. It will be fun at the least and only cost $20 unless I decide to rebuy in for another $20.