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[The TI promo is] BETTER than propping. You can play whatever hours you want at whatever stakes you want and get $10/hr for doing so long as you put in a 40 hour week. And they probably won't be sending the IRS any W2's for it.
I'm not sure whether people are just overestimating the upside or underestimating the downside here.
1. $12/hr is not a lot of money. It's below what people make at Starbucks, and depending on how much you need health care, you may be better off with $12/hr plus benefits than with $12/hr plus "nobody's gonna stop you from committing tax fraud."
2. Speaking of that, let me point out that just because TI doesn't send you a W-2 or 1099 doesn't mean that you don't have to pay taxes. Pay your damn taxes.
3. Even if $12/hr were a lot of money, it's still less than what the TI would pay a real prop.
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Originally Posted by bav
I have NO clue how they can support this. Seems like it'll be financially ruinous. But I'll bet it brings in players.
Like the Venetian's "$5/$10 blinds" promo, the biggest thing to consider is whether you really want the players this brings in. As people have pointed out, time-based promotions generally pull in a ton of nits who want to capitalize on the promotion and leave with as little money wagered as possible.
It's far more valuable, IMO, to bring in people who are going to "churn" money - creating action where action didn't exist. Take, for instance, the difference between a typical "aces cracked" promo (where you reward AA for NOT generating action and letting people draw against them) and a "crack aces" promo (where you reward 72o for cracking AA). The latter generates a whole lot more "churn" because AA is going to play hard as is 72o; the former encourages both to play passively.
Another way to generate action is to tie the chances of winning a promotion to something other than time, for example, the number of pots won. The Bicycle Casino does a promotion where they give an iPad to the person who wins the most pots over a certain time (the dealer just throws a nondenominational chip into every pot and that's used to count the pots won). You could also put raffle tickets into each pot won (so that the more pots you win the more raffle tickets you have) or something like that.
Straight up paying players to show up is the lighter fluid of a charcoal grill. The flame only lasts for a few seconds and the heat dissipates into the atmosphere; it's far better to get one of those columns where one wadded up newspaper can light 20 briquets, and you don't need any lighter fluid at all.