Big Six Question
Our biggest event is a huge Fair & Carnival that takes place each year over the entire 4-Day Memorial Day weekend. We have a huge tent set up outside for gambling. Big Six is always a popular game and, as one would expect, is fairly profitable for the house. We do however, limit wagers to a $5 maximum. The logic behind this is that if the house gets murdered during a hot run, we might not have the time to make the money back. After all, we are only "open for business" for what amounts to 6 peak hours per-day for 4 days per year. So, if somebody puts $5 down on a Joker (40-to-1) they would be paid $200. We can certainly live with that but we could not live with say, a $2000 payout.
One of our volunteers stated that it is all relative and, that we should allow up to a $100 maximum wager with minimums set at $5. First, I think a $5 minimum is too rich for our casual players. Plus, getting hit with three or four $4,000 payouts over the weekend could be fatal. Thoughts?
Finally, I have written a "dealer's manual" for this game for our volunteers. It's about 4 pages in length. I would be delighted to email this to anybody for their input. Simply email me at Falconyes@hotmail.com and I will email you the file.
Look at what other carnivals can do and they have to PAY their personnel.
Heck, you might as well give your customers a run for their money than just a walk for it. Let them go large a bit and you will see your coffers growing too.
Quote: RivaI have posted here before and appreciate the feedback. I run a charitable gambling function for a local non-profit. I am always looking for little or big ways to improve the bottom line. Today's question involves the "Big Six" Money Wheel Game.
Our biggest event is a huge Fair & Carnival that takes place each year over the entire 4-Day Memorial Day weekend. We have a huge tent set up outside for gambling. Big Six is always a popular game and, as one would expect, is fairly profitable for the house. We do however, limit wagers to a $5 maximum. The logic behind this is that if the house gets murdered during a hot run, we might not have the time to make the money back. After all, we are only "open for business" for what amounts to 6 peak hours per-day for 4 days per year. So, if somebody puts $5 down on a Joker (40-to-1) they would be paid $200. We can certainly live with that but we could not live with say, a $2000 payout.
One of our volunteers stated that it is all relative and, that we should allow up to a $100 maximum wager with minimums set at $5. First, I think a $5 minimum is too rich for our casual players. Plus, getting hit with three or four $4,000 payouts over the weekend could be fatal. Thoughts?
Finally, I have written a "dealer's manual" for this game for our volunteers. It's about 4 pages in length. I would be delighted to email this to anybody for their input. Simply email me at Falconyes@hotmail.com and I will email you the file.
Don't do the $5 minimum. At a charity carnival, it will scare some people away. They'll bet $1 5 times no problem, but $5 on one is a lot for some people that are used to Quarter Wheels. $10 max sounds reasonable.
Quote: IbeatyouracesMost places use short pays also.
You know...I forgot all about that. We (the State) has a "maximum win" limit at charity events pegged at $500. We have had a few fights with players over the years surrounding this cap. The blow their top when going to the cashier';s window with say, $900 and we tell them that they can only be paid $500.
So, to get around this, players either give the excess to a pal to cash in or, simply come back the next day and cash in. It's not much of a safety net for the house.
If you're going to raise the maximum, you may want to scale it - maybe $20 at 1:1 through 10:1, $10 on 20:1, $5 on 40:1. You'll see something like this quite often at casinos (although there, of course, it's more like $200 on 40:1).
Quote: 24BingoDefinitely don't do a $5 minimum at a charity event. Even at the casinos, big six wheels typically won't have a $5 minimum.
If you're going to raise the maximum, you may want to scale it - maybe $20 at 1:1 through 10:1, $10 on 20:1, $5 on 40:1. You'll see something like this quite often at casinos (although there, of course, it's more like $200 on 40:1).
I concur with this suggestion, although I would make it $5.00 on both the 20:1 and 40:1.
You are looking at something that is 42.45% house win percentage. Its big and prominent and makes use of space above the heads of the crowd...
what on earth are you afraid of?
Its a simple game, it pays off big for PROFIT MAKING casinos.... so why are you so afraid of it for a charity event wherein the payoffs will be worse and the betting limits worse?
Quote: FleaStiffSee the University of Nevada's three year study of a Big Six wheel in Atlantic City...
You are looking at something that is 42.45% house win percentage. Its big and prominent and makes use of space above the heads of the crowd...
what on earth are you afraid of?
Its a simple game, it pays off big for PROFIT MAKING casinos.... so why are you so afraid of it for a charity event wherein the payoffs will be worse and the betting limits worse?
Actually, we do not shave the payouts. If you hit the joker, it pays 40-to-1. That said, most wagers are $1 and it's rare to see a $5 spot on the layout.
Also, players rarely bet the joker or flag. When they do however, it's $5 bet with the attitude "Oh what the heck". That's a killer payout when it happens and takes a lot of time recovering with $1 wagers.
The real grinder is really not the joker or flag. It's the $10 and $20. For some reason, out players love putting $5 on these spots and they hit A LOT. IF we allow say $10 max, we might get slaughtered.
Quote: FleaStiff
what on earth are you afraid of?
Its a simple game, it pays off big for PROFIT MAKING casinos.... so why are you so afraid of it for a charity event wherein the payoffs will be worse and the betting limits worse?
The casinos have a luxury that the OP'er doesn't, time. I don't make any claims to know how much volume his game has, but a 40-1 with more than one person putting $5.00 on it at the wrong time, by itself, could screw an entire day, if not the event. Imagine the House is in the good for $200 for the day, and then three people decide, "What the Hell," and it hits at that moment...BOOM, -$400 for the day, and what, three hours left to bounce back?
I understand and agree that the House Edge hugely benefits the charity of the OP'er, but that having been said, you want to minimize the Variance, which is why you institute Minimum and Maximum bets in the first place. What if you bumped the Maximum to $100 and that bad boy hit, do you think they could bounce back from a 4k hit? I know the thing is limited to $500 cash out per day, but that's easy enough to get around.
With any time constraints, the player isn't the only one gambling.
Quote: Mission146The casinos have a luxury that the OP'er doesn't, time. I don't make any claims to know how much volume his game has, but a 40-1 with more than one person putting $5.00 on it at the wrong time, by itself, could screw an entire day, if not the event. Imagine the House is in the good for $200 for the day, and then three people decide, "What the Hell," and it hits at that moment...BOOM, -$400 for the day, and what, three hours left to bounce back?
I understand and agree that the House Edge hugely benefits the charity of the OP'er, but that having been said, you want to minimize the Variance, which is why you institute Minimum and Maximum bets in the first place. What if you bumped the Maximum to $100 and that bad boy hit, do you think they could bounce back from a 4k hit? I know the thing is limited to $500 cash out per day, but that's easy enough to get around.
With any time constraints, the player isn't the only one gambling.
Quote: Mission146The casinos have a luxury that the OP'er doesn't, time. I don't make any claims to know how much volume his game has, but a 40-1 with more than one person putting $5.00 on it at the wrong time, by itself, could screw an entire day, if not the event. Imagine the House is in the good for $200 for the day, and then three people decide, "What the Hell," and it hits at that moment...BOOM, -$400 for the day, and what, three hours left to bounce back?
I understand and agree that the House Edge hugely benefits the charity of the OP'er, but that having been said, you want to minimize the Variance, which is why you institute Minimum and Maximum bets in the first place. What if you bumped the Maximum to $100 and that bad boy hit, do you think they could bounce back from a 4k hit? I know the thing is limited to $500 cash out per day, but that's easy enough to get around.
With any time constraints, the player isn't the only one gambling.
Probably should put this in to perspective. Over the 4-day event this year, this game made $2,600. That's 4 days with peak gaming limited to about 6 hours (7:00 PM through 1:00 AM). The dealers are all volunteer and we own all of our gaming tables outright (no rent). So, you can see our fear about raising the maximums especially when 95% of the wagers are going to be $1 no matter what the maximums are.
A little bit off subject here but one of the challenges we have here is actually getting people to play. I instruct our dealers when the table is slow or vacant, to look a patron walking by right in the eyes and, holding up a $1 chip bark: "First Spin FREE!". With that offer, 90% will approach the table and 100% will invariably ask the exact same question, "how does the game work?" (albeit somewhat sheepishly.) After a brief explanation, they player (no longer a patron) puts down the $1 wager anywhere they want. Some win and that's OK because now their hooked! Even losers hang around and drop some more.
The biggest challenge I have with above is if the player does not already have chips in his/her possession, we'll lose the person. That's because at our games, dealers never touch cash. Rather, chips are sold and redeemed at a central booth or by a roving chip seller (who is NEVER around when you need them). So, what happens is the player with no chips simply walks from the table because dealer can not sell the person any of the chips in the tray, nor can they leave the table in order to go fetch some chips for the player. It drives me nuts!
Quote:The real grinder is really not the joker or flag. It's the $10 and $20. For some reason, out players love putting $5 on these spots and they hit A LOT. IF we allow say $10 max, we might get slaughtered.
Any chance the wheel has a bias and/or there is an incorrect distribution of wedges?
Quote: DJTeddyBearAny chance the wheel has a bias and/or there is an incorrect distribution of wedges?
The wheel is brand new. We just purchased it prior to our big event in May. It does however, stand on grass during our outdoor events. I can send you video if you want.
