Fifty, Hundred Dollars, Ninety discussed on Rec Poker

Rec Poker
|

Automatic TRANSCRIPT

I've tried to keep at a a flat. Rake level and i've strictly adjusted based upon structure and then hundred dollars and above the rake level. Goes up a little bit. Structure gets better And then obviously we get. Into main event structure rake level goes up again but percentage wise the rake level actually starts to drop in. So i try to. I try when. I talk a little bit about this. I try not to go into. The percentage factor too much because the lower the by tournament the higher the percentages. Just stick strictly strictly going to be facts. Are you know if i run a thirty dollar poker tournament. I still need to charge something so even if that ends up being we were only raking eight dollars on a thirty dollar tournament and in in that one instance those tournaments actually worry loss leader for us many times. When i would run. I would run my profitability analysis on those tournaments. We were negative so we would on those tournaments basically at a cost to the to the casino. you know. In hindsight it still is a good thing at the time you know going for. That probably won't be a strategy. I'll use you know it's it's a fact of life it's all having said that as a percentage you know we were looking at a little over twenty five percent back then And then i think our biggest percentage that we would rake was the fifty dollar events are fifty dollar tournaments where we were raking fifteen dollars so basically anything between fifty and ninety nine. I'll use ninety. Nine is the number because when we number ninety nine dollars anything between fifteen ninety nine i fifteen dollars on percentage wise would change just buying but the rake stay. The same level stayed the same syllabi and ended up becoming more function of trying to get people in at certain times of day. Ten know buy ins tend to be a little bit lower morning times. it's it's a different crowd You can have a little more of aggressive by later in the day so six pm seven pm kind of start times. You can have a bigger by because you tend to get a little bit more discretionary coming into the building so that was my was my goal when i was really set. Those structures up was to think about. Were the where the right buying levels should be. And then what the rate structure should be going along with that and then considering and then. I'm pretty happy. Say up until up until now we haven't really raised rake structure at running a long time so that was one of the questions ahead hand for us. I mean. I know you haven't around which is a whole time. Running aces been open. And i'm like what i'm pretty well aware of. What like the cost of living increase in what has been over that time so presumably your costs per overhead for charity for dealers for benefits. All those things have been increasing every year in the rake has and so what gives like. How do we do that. I know that's not a sustainable business model right so two things occur with that. And i'll i'll we let's talk. The minimum wage is always the great the one that everybody kind of understands because they know where minimum wage is at in our dealers are tipped employees but they get a minimum wage as well right now seventy years ago or ten years ago when running ace of twelve years ago when.

Coming up next