Quote:
Originally Posted by driverseati
Lammers aren't cash, you can't spend them at the store or buy things with them. Therefore, lammers shouldn't be worth the same as cash, they should be less, how much less is up for debate. There is a reason why on Stars T$ had a 98-99% exchange rate, they were ALMOST cash, but not quite.
There's a few drawbacks to just buying up lammers. First, if you actually need the cash somehow and only have lammers, then it's more effort/time for yourself to try to exchange it back. That is a cost that some people are willing or not willing to pay. Secondly, if you register with lammers, and then unregister for a tournament, or your 1k SNG doesn't go, or whatever reason, you get lammers back and not cash. Then those lammers are now your problem.
The reason why lammers are being paid out is to avoid tax documentation and more paperwork for winners, especially late in the game with the mega satellites to the Main Event and also because that a must play seat system did not work in the past. This was the best solution, to allow players to buy into any event they want, and make it a satellite to anything they want. That is how it evolved, and why they aren't just cash SNGs.
Security is also instructed to not allow selling of lammers on the premises. I have already seen this enforced first hand. Obviously if you do it on the premises, do it in a place that isn't in view, but that is still another hurdle to jump over as well.
That said, don't be so quick to throw people under the bus for refusing to buy your lammers at face. They don't view that as part of their business model, and with good short-term economic reason. We can argue all day if that market was cut-off if it would affect the fields in satellites, but for the same reason you are selling your lammers at face is basically the same reason why another person may not want to buy your lammers at face value.
If you are buying and selling lammers well in advance of tournies starting, then most of what you said is true, and lammers should trade for a slight discount. The going rate of 1-2% seems fine.
If, however, you are buying into a tournament about to start, there is no good reason to refuse to pay face value for lammers. It has zero cost to you.
You can argue about whether eliminating lammer sales would affect fields or not, but it wouldn't be much of an argument. The ability to sell lammers directly increases both regular tournament fields and satellite fields.
For example, a couple days ago, they were trying to get the last satellite of the night going, maybe around 5 am or so. A guy wanted to play, but didn't have enough cash, only lammers left, and needed to sell one. If nobody bought it, the satellite would not have run. Somebody did buy it, and the satellite ran.
The floorman witnessed it, and did not mind at all, and in fact seemed happy about it, that the satellite went off. Which brings me to another question. Do floormen have any incentive to get satellites going, or are they just trying to do a good job or not? I have seen some that don't seem to care whatsoever if satellites run or not, and I have seen some who hustle to try to get more running, to the point of asking players at existing tables if they will play another after this one or not. Just wondering how it affects them.