Pooling sidebets

I had a "bright" idea while reading up on PGP sidebets. It turns out that sidebets which pay an envy bonus have a variable house edge, dependent on the number of players making such bets. So it struck me that it might be a good idea for a group of epople to take over a PGP table and pool their sidebet money.

Caveat: I do know this is not an AP play, just a relatively low HE play.

So here's hwo it would work. Take 6 people and get them to occupy every seat at the PGP table. Each can bet as he likes for the main bet, but all will bet the same amount on the side bet. Next comes the tricky part: all moneys earned from side bets, be it a straight payment or an envy bonus payment, are set aside. When you're all done playing, the side bet money is divided among the group, assuming there is any money to divide.

Aside from the logistical issues, does this make any kind of sense?

deleted

Sounds excellent!

I support any idea where players work together!

Quote: Ibeatyouraces

I can't vouch for PGP but teams do this sort of thing when jackpots for various games become +EV as in VP. I know of a team that took down a $34,000 JP on the 3 card poker progressive about a year ago.

I had heard about VP and table progressives, but that's a much clearer, AP-type proposition.

In truth, I was thinking about the lines of social gambling, perhaps also as an activity to try next WoVCon.

Quote: Ibeatyouraces

I can't vouch for PGP but teams do this sort of thing when jackpots for various games become +EV as in VP. I know of a team that took down a $34,000 JP on the 3 card poker progressive about a year ago.

$34k?? nice!! You'd expect to make about $1.25/hand on the sidebet at that level. After taking out the HE of the base game, you're still about $1/hand to the good. And that's assuming that you don't have anything else going for you. If you happen to be able to have a lower HE on the base game *somehow*, it'd be a spectacular play.

deleted

deleted

Quote: Ibeatyouraces

Personnally, I'd rather be social while not gambling.

Well, yes. It allows for a wider, mroe relaxed scope for conversation. But I like playing with friends or socializing at the tables, too. I'm not a "serious" gambler at all.

Quote:

But if pooling money for a bet like the fortune bet lowered variance while playing a decent game for fun with friends, then by all means go for it.

It lowers the house edge. I've no idea what, if anything, it does to the variance... Socially, though, it means we're all betting on the outcomes of everyone else.

deleted