BONEHEAD CASINO PROMOTIONS AND OTHER STUPID IDEAS:
4% COMMISSION BACCARAT
by Vinny DeCarlo
Vinny DeCarlo is the author ofHow to Beat Casino Surveillance – Insider’s Secrets for Card Counters. He is a retired veteran casino man with over 20 years of upper management experience. His expertise covers the pit, security, and surveillance, and he even served as a General Manager for two different casinos. Currently, Vinny travels the states as a freelance reporter and a personal consultant to many Indian casinos. He also appeared on the Getting the Edge radio show from Las Vegas (http://www.bobdancer.com/mp3/gwae081811.mp3). According to Vinny, there are two types of casino employees - those that know him, and those that claim to know him; therefore, never believe what you hear.
Note: This is the first in a series of articles that cover bonehead casino promotions and other stupid casino ideas. Enjoy!
Remember back in the 1950’s when a bored grave shift floor supervisor invented the insurance bet? Well nothing has changed; the casinos are still coming up with great ideas (in principal), some of them going awry, and we’d like to share a few of them with you.
Not too long ago, a casino "brainiac" came up with a 4% commission Baccarat game. What a great idea! All the other ‘stupid’ casinos are charging 5% commission on winning Banker hands so we’ll get all the business by only charging 4%. Moreover, boy did they get the business: to the tune of a 44% reduction in house advantage.
By changing the vig from 5% to 4%, they reduced the house edge on the Banker hand from about 1.18 percent (rounded) to 0.67 percent. That’s a substantial decrease of almost half of their edge.
Now don’t get me wrong ... this promotion brought in some serious players and guess what happened: these boys systematically whipped the hide of the casino into submission.
I remember getting the call late one night from this casino and it went something like this...
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