Quote:
Originally Posted by The Meal
If you treat the add-ons like they're part of the buy-in (which they kind of are, since everyone takes them and they give you more chips) [At the Lodge] then the percentage of juice are...
I wanted to come back to this because my math was wrong.
I'm defining the %vig to be: (add-ons + rebuys)/(buy-in + add-ons)
(which implies that the add-ons are universal and should be considered part of the buy-in)
Lodge $60 w/ no add ons: 0% vig (but you'd never do this)
Lodge $60 w/ add-on only: 8% vig (add-on is $5)
Lodge $60 w/ a-o + 1 rebuy: $31% vig (rebuy is $15)
Lodge $100 w/ no add-ons: 0% vig (but you'd never do this)
Lodge $100 w/ add-on only: 9% vig (add-on is $10)
Lodge $100 w/ a-o + 1 rebuy: 27% vig (rebuy is $20)
These numbers are correct.
I've taken 4 rebuys out of 7 entries under this structure. (3*8 + 4*30)/7 = average vig of approximately 21% (more if you rebuy more often than I, less if less).
There, now I can sleep at night again.
Thanks for the info Rockies. I hadn't considered that the new management at the Gates could end up pulling the plug entirely. Seems fairly far-fetched considering that would appear to be a successful room at the moment, but I don't have a lot of experience with how these things typically shake out.