Quote:
Originally Posted by 12bigworm81
I am curious how every room in NH legally does jackpots and promos. Each day they are open is a charity event for that day. There are no carry overs even if you run the same charity 10 days in a row. As an example if the house loses $10k in table games on Thursday and wins $10k on Friday it does not net out to $0. They give $0 to charity and pay $0 in taxes on Thursday, but pay $3,500 to charity and $1,000 in taxes on Friday. (Before any profit/loss).
So my question is how is it legal to rake during a charity event and give that away to someone at any other time other than that day? It’s even stranger that each room can basically just decide their own rules for when if and to whom it will be paid.
Really am curious as to how this is permitted.
Worm: you are incorrect in many ways here:
A charity and the state can only win. Each day is a separate day and each day is closed out. Here's the fun part. If the house rakes $ 1000 at poker, the charity gets 35% and the state gets 10% out of the GROSS. THE GROSS. The second part is the table games. On the same day the poker was raked $1,000, and the charity got 35% and state 10% of that rake, the pit LOST $1,500. Guess what,,,,,,,,,, the government has made the rules............ there is not off set. The house absorbs the entire LOSS and the charity and state have no liability. Tally for the day for the house:
Poker rake $1000 minus 45% $550. Pit games lost $1500....
Total for the day: 550-1500......... house lost 950 for the day....LOL, your gov hard at work.
We have 18 pit tables at Cheers, so ..........
Regarding the promo.... the state put it in law that there can be a promotion rake that is not raked by the charity or taxed by the state and can only be used for player promo and incentives.
Its good for the charities as more players attracted equals more money for charity and state. Smart business.
Finally, no room is allowed by law to contribute to the player promo pool. Room owners cannot contribute to the pool (by law----) Promo's only are supposed to come from the promo rake. A new room, like ours, is allowed a one time contribution of $1,000 for player promo. Thats it, one time. Room have to save up prior to starting promo's more than that amount. At a meeting at the lottery, i asked if I could "loan" the promo pool $10,000 and was told nada....its $1,000, one time on opening day. For the record, in lieu of a cash promo on opening day, I'm offering advice on how to beat the rake at any game..... that's worth a ton. Helpful hint is avoid low rake, that's where the Rock's and nits are.... you not gonna make no $$ in those games...you want to play with recreation players. Big rooms with lots of tables allow juicy player pools and bigger pots.... simple formula...find the rec's and the action
We are open Saturday at 11 and will be open New Years Eve until 1AM...good luck at the felt everyone, if you stop by Cheers, look me up !!!
Happy New Year !!!
Last edited by Puckster; 12-30-2017 at 01:00 AM.