Quote:
Originally Posted by steve420wa
For the recent $200 bounty tournament the rake was around 28%, maybe 24%, making it a $150 + $50 thing. Not a very good deal. Here's a picture if you'd like to try the math
They are taking out money for the TOC which is effectively a Jackpot Rake. I really wish they had a better breakdown of what the rake goes to. However here we go again on the math for why the rake has to be 25%.
51 entries @$50 of rake = $2,550
There are roughly 60 hours of dealer time to be paid which is $1,200.
So they have $1350 to pay any overhead, waitresses and turn a profit. This is why the sub $200 buy in tournaments are terrible value until you get over 100 entrants.
This is where you better know your edge in the tournament or you won't be able to beat the rake. That's the same as grinding cash or any other form of poker. You must be able to beat your opponents and the house.
What are they supposed to do run the tournament at a loss? There is a reason you don't see tournaments like this being ran all over the place. They are not great money makers for casino's. However Muckleshoot is the best at this in the area for what that's worth.
The weekday tournaments are even worse and I would recommend avoiding them as they are simply for entertainment not for you to make money playing them.