Rules and regulations are many for casino sites
Dealer Joe Fortin waits for players to sit down at his New Hampshire Hold 'Em table at the Manch Vegas Poker Room on South Willow Street in Manchester. (/Union Leader)
"I explain to some people when they get excited here, we're not on TV. We're not going to win a million dollars," player Eric Charette said during a break from a poker tournament at the ManchVegas Poker Room. "If you're here trying to grind out your rent, then you shouldn't be playing."
A bulletin board outside the manager's office at ManchVegas displays the various licenses required to run such an operation in the Granite State. Also on display are separate booklets - the New Hampshire Rules on Games of Chance and another titled New Hampshire Law on Games of Chance. Both are required to be on display should any patron care to review.
Chips in tournament games such as Texas Hold-Em have no intrinsic value. They essentially serve as a score-keeping device to award prizes to the top finishers.
If they lose all of their chips, they can buy more at costs that vary according to how long the game has been running at the time of the "re-buy." All money spent buying chips during the game, both original buy-in and the re-buys, goes into the same pot.
Each facility sets its own prize schedule and can allocate up to 80 percent of the money in the pot for player prizes.
About halfway through the game, buy-ins are stopped and the house counts up the money that has been wagered. ManchVegas designates 75 percent of this total wagered for prizes,
In a 40-player game, for example, the last four players in the game, representing the top 10 percent, are paid. The winner receives 45 percent of the prize pool. The last player eliminated finishes second and gets 25 percent. The third- and fourth-place finishers receive 18 and 12 percent of the pot.
That would leave $970. The law says you cannot payout more than 80 percent in prizes. In this example, that would be $776 in prize money to be distributed. Continuing with that math: $1,000 less $30 (state) less $776 (prizes), that leaves a net of $194, of which the charity would get 35 percent, or $67.90, and the game operator would get the remainder, $126.10.
The players joining Charette at the table were familiar with the latest efforts at the State House to allow a large-scale casino or two to set up shop in New Hampshire.
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