The other day, I was playing in my usual 5-10 NLHE game and was offered a buyout to fold my hand.

Effective stacks ~$2000. After all the action, we get it all in on the flop.

Villian has nut straight

Hero has open-ended flush draw to the chopped straight.

We agree to run it 2x, when villian says, "you want a buy out? I'll give you a fair price."

I didn't want to make a deal, and ended up winning the first runout with a flush and hitting the nut straight, chopping the bottom.

I know that villain wanted to buy me out bc the 5-10 game was above his bankroll, but in a casino environment, how would you orchestrate a buyout? Would we agree to a price, I'd fold my hand and he would pay me outside the table? I'm sure that the casino rules would not allow us to chop a pot without running the cards out. And let's say that he did pay me off the table, would you as a player on the table have a problem with the fact that I effectively passed $2K to another player at the table, who in this case is nut peddler and you wouldn't benefit from the action that I would have given the table had I won?

"I don't have the cash on me, I'll square up when I cash out in an hour."
<1 hour later>
"Oh man, I have to run, my wife is calling. I'll get you next Thursday."
<next Thursday>
"What buyout?"

For this reason alone I would never agree to something like this.

See https://forumserver.twoplustwo.com/5...-tl-dr-372382/

it sounds like things I've seen and heard about on TV and the forums. Insurance/Equity Chop/Buy Out, all ways to lower(eliminate) variance.

At the stakes I play (1-2), it simply doesn't happen. If it did, I don't think I'd like it, but I'm not sure how much (if at all) I would protest. I do like the idea that someone may get tilted and play less than optimal. I don't like that it can feel like collusion (let's get these players out and chop the pot).

If allowed by the casino/dealer/table, I think the deal simply takes place with chips. Whatever chop is accepted, the chips go that way.

If not allowed by the casino, but paused long enough to reach an agreement, then it sounds like off the table cash exchange after the hand. No folding, just an agreement to refund a part from the winner to the loser, if there is a discrepancy.

This used to happen a lot in the 1990's - PLO games at what was then the Union Plaza, for example.

The players involved negotiate what to agree their relative equity is.

Say we have nine outs twice - about 36%.

The pot is $2000.

The Villain might suggest "you take $500, I take $1000, and we race for the rest."

Effectively offering us 33% ($500 out of $1500).

And we might counter by saying "I take $600, you take $900".

Effectively asking for 600/1500 or 40%.

And eventually agreeing to $550/$950 or about 37%.

Haven't seen much of that in the last 5 years but it usually doesn't happen in the smaller games, they just run it out.

If you are going to do this, it would be wise to know what your equity actually is.

Wow, crazy story. Yea, when he asked for the chop, I said, "nah, the chips are already in play, so let them go...."

That's the thing. I would have never thought to stop the game, calculate the buyout, ask him to take cash out of his pocket, pay me, fold my hand, blah blah.....

If anything, all of the above would have the other 7 players at the table inserting the opinions and objections, making the whole thing more difficult....

The reason why that couldn’t even be a thing in a low stakes game is the same one why most of those games don’t offer to run it twice or take an extra buck to do it: rake

Only in time charge games is the house indifferent to players taking extra time for stuff like that. Next problem is that lots of jurisdictions probably don’t allow to take money back that’s been wagered already. And the third thing is that other players at the table might object.

That’s why I have seen that only in private/home games and never involving any complex equity calculations. It’s always something like AK vs. pair AI pre and both players decide to take an equal amount back (even though the pair is a favorite) or made hand vs. draw AI on the flop and players quickly agree on what they think is fair. The latter is way more uncommon though, especially in games where you can run it twice.

Every single time I’ve seen that, the money came out of the pot immediately without anyone settling later.

Not doing buyouts, and not running it twice will make people fold to you much more which is EV+.

RIT sort of ruins the game from the perspective that handling and managing variance is part of the game.

all of this.
if you know this guy is playing over his head definitely don't run it twice with him even if you normally do. it's stupid. you're doing him a favor and costing yourself money.

and if someone is this desperate to make a deal make him a terrible terrible deal.

most people can't handle swings. when you reduce your variance you also reduce their's. handle your's better than they handle their variance and one time them.

I assume you're talking about future fold equity and not about costing him anything in the given situation that has already played to this point?

up to this point he's already agreed to run it twice with a scared player (which makes no sense) so nothing can undo that. however if the guy really wants to make deal make him once that massively favors yourself.

why even gamble lol. asking for deals in poker man... ive never run it twice/chopped ever in 9 years of playing and i play a lottt of poker at 2/5 and 5/10.