Have you? It seems like a good and easy enough idea, theres just the whole, "what if you get cleaned out" factor. Though the house always wins, there are times when the players have an advantage, and you wouldn't have the millions of dollars that a casino would to fall back on.
Im considering starting up something small when I move out. It would be good for parties!
NewCar is sort of right... the house doesn't ALWAYS win... in the LONG TERM, the house wins... but "long term" is TENS OF THOUSANDS OF "DEALS" (ie. roulette spins, slot pulls, blackjack hands, etc.).
In the SHORT TERM (and that is misleading, "short term" could be up to THOUSANDS OF DEALS), it's very possible for the player to win.
It's funny you posted this, though... we're having a casino party in a couple weeks... just friends, minimum buy-in is $25 and max is $100... any house winnings will be donated to charity and any house losings will be absorbed by our friends.
The point, of course, is to raise money for the charity, so the rules will more favor the house.
I read something in a gambling magazine once, this isn't an exact quote but close enough:
"The function of a casino is to entertain and redistrubute the money of its patrons, and keep a .5% to 15% commission for this service."
I guess it just works out that they actually get a 50 or 60% commission
I was recently in Atlantic City for the first time..We walked into one of the casino's and they had a running talley of how much money they'd given away that day..it was some number over a million..
Just imagine how much money they brought IN...damn, i'm in the wrong business
'94 R/T TT
'95 VR-4 Spyder
'95 Pearl Yellow R/T (belongs to Mom)
I haven't started anything, but if I do it will be small. I'm thinking keeping it simple at first, something like three blackjacks tables. Max. bet being $1000. Even stocking a semi-full bar. Before I attempt this I would like to know what I'm in for if I get busted.
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