Riva
Riva
Joined: Apr 3, 2013
  • Threads: 73
  • Posts: 449
February 3rd, 2015 at 1:18:50 PM permalink
Quote: rudeboyoi

Any 7 is looking pretty good right now.



When we designed the layout, we purposely did not shave the "any 7". Our players use it supposedly for "insurance" on their pass and place bets. Whereas, in fact, it's nothing more than a slow bleed.
beachbumbabs
Administrator
beachbumbabs
Joined: May 21, 2013
  • Threads: 99
  • Posts: 14230
February 3rd, 2015 at 2:56:41 PM permalink
Quote: Riva

"It's not important that they know. It's only important that I know". lol



Gonna speak up for Riva on this for the new guys. Yeah, the odds are not as good as in a real casino.

1. Riva has 4 days a year to make money for his school, and isn't open 24 hours, let alone 365 days/year.

2. All proceeds go to the school; all dealers/organizers/cashiers/concessionaires are volunteers.

3. It's supposed to make money for the school (and it does, based on what he's said in the past) while offering a fun way for people to donate, not provide for-profit earnings for a private concern.

4. Even with donated equipment and service people, he still has considerable overhead that he can't cost back against a year's income; he only gets that 4 days a year to pay for all of it - storage, rental trucks, felts, food suppliers, whatever.

5. People can and do go home ahead despite the bad pays, but the idea is to raise money for the school, so I would guess most people acknowledge that and only spend what they can afford to lose.

He mentions in this thread that there "are smaller events", so I guess that's a bit more income, no idea how much of the revenue for a year comes from smaller events. Not necessary for Riva to tell me, either, but I would guess the 4 day event is at least a majority of the fundraising.

I really think, in summary, that there is a significant and reasonable difference between what he's doing and other gaming. And I don't think they're misleading any of the patrons into thinking they're anything other than a non-profit fundraiser.

JMHO. YMMV.
If the House lost every hand, they wouldn't deal the game.
Riva
Riva
Joined: Apr 3, 2013
  • Threads: 73
  • Posts: 449
February 4th, 2015 at 9:30:37 AM permalink
Well, thank you for the very kind words.

And, you are about 99.9% correct in your assessment of our program.

There are several reasons why I still volunteer at this school 10 years after my own son graduated from the place.

The first is, they put out a very good product by teaching young men to go forward to lead an outstanding life. That's, in itself, is worth giving back to.

Secondly, while a lot of work, it is gigantically fun.

Third, while the event is staffed with volunteers, unless you have seasoned veterans having "tribal knowledge", we'd get plucked clean.

Perhaps my greatest frustration surrounding this whole thing is the regulations by the state of Michigan that limit the amount of chips that we can sell to players to $15,000 per-day. To me, this is maddening because we could easily sell 3-5 times that amount per day. When we reach the wager limit, typically very early on in the evening, people wont pay money to come in because they can't buy chips. This deprives us of valuable admission revenue.

Likewise, current players exit early because they can not buy more chips. This deprives us of valuable incremental gaming revenue.

Finally, when people do not come in and people leave early, they stop buying food and beverage thus, depriving us of valuable incremental concessions revenue. All this because of a wager limit that has not been increased in 15 years!

My goal this year is to work through the Michigan legislature to have the wager limit increase to $50,000 per day.

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