Riva
Riva
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August 25th, 2014 at 10:10:39 AM permalink
I went to a local festival last week and they had 3 "let it ride" totally full all night long. They made pretty good money too, I'm told.
Thinking of offering this same game at our own fundraising events.

Question...when dealing to the players, does each player receive 3 cards in a row off the deck or, is each player dealt one card at a time in sequence like in blackjack? If the former, it seems like you would want a very thorough shuffle each hand. Thanks.

Also, as shared on another thread, a local gentleman donated a complete roulette ensemble to our school, as well as a 12' craps table. I brought them both to my house so I could clean them up as they had been in storage for about 2 years. I will be reluctant to send the roulette back to the school as I'm making about $50 per-day off of my neighbors!!~ :)

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bigfoot66
bigfoot66
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August 25th, 2014 at 11:00:33 AM permalink
All of your earlier posts have mentioned how conservative the organization is (less than $25 max bets if I recall). How are they going to take the possibility of a $15,000 payout if someone bets $5 and gets a royal?
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Riva
Riva
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August 25th, 2014 at 11:18:38 AM permalink
Quote: bigfoot66

All of your earlier posts have mentioned how conservative the organization is (less than $25 max bets if I recall). How are they going to take the possibility of a $15,000 payout if someone bets $5 and gets a royal?



If you are a charity or non profit conducting a "Vegas Night", you have to have rocks in your head if you allow even the exposure to a huge payout like that despite the astronomical odds of it occurring!! I have been researching this game since I saw it played at the other event and from what I have found is the payout for a royal is 30:1. So, with three max bets of $5, assuming all bets "ride", the payout would be $450. And, I know that shaving payouts puts a lot of people on this forum on tilt however, they have to remember, it's not a casino. Rather, it's fundraising that pretends it's a casino. Notwithstanding, it's still gambling and the house can lose.

The thing that worries me about this game is not necessarily the risk of a high payout. Rather, with the constant shuffling (downtime), will the house have enough time in the evening to play enough hands to recover should a couple of monster loses occur? Remember, unlike a casino, we're not open 24/7/365. We're open typically for 1 day and for about 7 hours.
DJTeddyBear
DJTeddyBear
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August 25th, 2014 at 11:34:43 AM permalink
Yeah, it's a charity. People shouldn't get too bent out of shape by the reduced payouts. And if they object, they'll probably play something else - opening the seat for someone who doesn't care!

Regarding the shuffle: wasn't Let It Ride the game that was invented to support the introduction of ShuffleMaster's shufflers? The machine delivers the cards three cards at a time.

At any rate, if never seen it played with a hand shuffle.

If you include the game, deal it one card at a time. Doing three at a time introduces the possibility of giving a player 4 cards by mistake. And that will cause all kinds of other problems if unnoticed.
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Deucekies
Deucekies
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August 25th, 2014 at 11:38:35 AM permalink
Quote: Riva

I have been researching this game since I saw it played at the other event and from what I have found is the payout for a royal is 30:1. So, with three max bets of $5, assuming all bets "ride", the payout would be $450.



http://wizardofodds.com/games/let-it-ride/

I have no idea where you're getting 30:1 for a royal from.
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Riva
Riva
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August 25th, 2014 at 11:52:05 AM permalink
Quote: DJTeddyBear

Yeah, it's a charity. People shouldn't get too bent out of shape by the reduced payouts. And if they object, they'll probably play something else - opening the seat for someone who doesn't care!

Regarding the shuffle: wasn't Let It Ride the game that was invented to support the introduction of ShuffleMaster's shufflers? The machine delivers the cards three cards at a time.

At any rate, if never seen it played with a hand shuffle.

If you include the game, deal it one card at a time. Doing three at a time introduces the possibility of giving a player 4 cards by mistake. And that will cause all kinds of other problems if unnoticed.



That's good advice. Thanks.

At the game that I watched at the other festival, they actually buried the first three cards on the newly-shuffled deck to assure a random dispersal of cards.

If we were to commit to this game-long term, I would seriously consider purchasing an automatic 1-deck shuffling machine for each table (3). I would then use 2 decks; one in play and one being shuffled. These machines cost about $500 each (new) however, I see recovery of those cost ($1,500) in 2 or 3 evenings of use, if that. Then, you have machines to use at those tables for years to come.

And, with 7 players at a table, with a auto shuffler I would bet we could squeeze in 50-60 hands per hour. If shuffle by hand, probably closer to 20-30 per-hour. Seems like a no brainer. The trouble will be getting the school to approve a purchase of $1,500 for 3 shufflers when some will say "but, we have able-bodied people here who can hand shuffle." It's frustrating sometimes.
Riva
Riva
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August 25th, 2014 at 11:59:20 AM permalink
Quote: Deucekies

http://wizardofodds.com/games/let-it-ride/

I have no idea where you're getting 30:1 for a royal from.



Just because a casino pays 1,000:1 on a royal, doesn't mean you're compelled to mirror the same payouts at a fundraising event. I have checked with 3 other organizations that offer this game and NOBODY pays higher that 30:1 on a royal.


LET IT RIDE!

$1 MINIMUM $5 MAXIMUM
ROYAL FLUSH 30:1
STRAIGHT FLUSH 20:1
FOUR-OF-A-KIND 15:1
FULL HOUSE 10:1
FLUSH 7:1
STRAIGHT 5:1
THREE-OF-A-KIND 3:1
TWO PAIR 2:1
ONE PAIR 10+ 1:1
GWAE
GWAE
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August 25th, 2014 at 12:00:16 PM permalink
Quote: bigfoot66

All of your earlier posts have mentioned how conservative the organization is (less than $25 max bets if I recall). How are they going to take the possibility of a $15,000 payout if someone bets $5 and gets a royal?



because they limit the people to only winning $500. So a 15k royal would only pay $500. Like all of Rivas games, sounds fair to me.
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GWAE
GWAE
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August 25th, 2014 at 12:02:09 PM permalink
Quote: Deucekies

http://wizardofodds.com/games/let-it-ride/

I have no idea where you're getting 30:1 for a royal from.



the same way they pay even money for hitting a number on roulette; or is it 30-1?
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Riva
Riva
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August 25th, 2014 at 12:41:27 PM permalink
Quote: GWAE

because they limit the people to only winning $500. So a 15k royal would only pay $500. Like all of Rivas games, sounds fair to me.



As before, I'm sensing a sense of sarcasm from the peanut gallery. I think it's time I shared a little bit more information with you surrounding charitable gaming in the State of Michigan. Perhaps then, you might have a better understanding why payouts are structured the way they are.

Under Michigan's charitable gaming law, the house can only sell a maximum of $15,000 worth of artificial money (chips) per-day. If you sell more, you will be permanently shut down forever by the state. Plus, the $15,000 INCLUDES the start up money at every table. So, if you have 50 tables and put out say $100 for dealer "seed' money, that means you can sell only $10,000 to players during that night.

On average, the house makes about 35% on wagering or $3,500. On a good night, we'll make 50%. Adding to that income is admission revenue and money from food and beverage.

Now, let's say the house has a horrible night and loses $20,000 from gaming. That's 40 people winning $500. Easily done with a room holding 250 players. The house must honor that $20,000 loss regardless.

The logical answer is simply to put more money in circulation and hope that you recover over time just like a casino. BUT NO! The state says you can only sell $10,000 worth of chips weather you are lucky or unlucky. And, the event must close down, by law, no later than 2:00 AM so you don't have the TIME to recover your losses even if you could put more money in circulation.

The solution is to limit exposure so you are pretty well assured of making money in the short window of time that you are provided. And, that means shaving payouts,playing the most number of hands, rolls or spins per-hour that is humanly possible.

You may think that this practice is somehow egregious. With the limitations put on a charity by the state, I think it is closer to a miracle that a charity can make ANY money at this activity unless you run a VERY tight ship.

Finally, when people come in to an event like this, they know that they at a fundraiser and not a real casino. Sure, they want to win and, many do. But if people lose to the house, they know they had a fun evening, lost a few shekels, had few $3 beers and go home happy.

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