Im pretty new to hosting, especially cash games. So my question is, does the money that you would keep in your bank "lockbox" to make change with does that come out of your own pocket or does that accumulate from somewhere else? I know this is probably a dumb question i just want host as best i can.
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Cash Game Keeping money to make change (1 Viewer)
- Thread starter spazy2290
- Start date
The host usually funds the bank. I do that by buying in with small bills. Every couple of months I'll stop at the bank to stock up on singles, fives, and tens.
spikeithard
Flush
Welcome to PCF
do you mean change for someone who is bought into the game or someone who just showed up and wants some change to buy pizza?
do you mean change for someone who is bought into the game or someone who just showed up and wants some change to buy pizza?
Change for someone who is bought into the game
I'm not sure I understand the question. There shouldn't be any loss...?
For example suppose you have eight players and a buy-in of $50, and you know everyone will bring 3 x $20.
Ahead of time, you could get $80 in $10 bills and put them in a box. As people buy in with their 3 twenties, you give them change of $10 each.
Once eight players have bought in and you've given them all change, there's 8 x 3 x $20 = $480 in the box, which is 8 x $50 plus your original $80.
At the end you cash out the $400 from the buy-ins, and you're left with $80 in twenties instead of tens.
So again: What loss?
Obviously this is a simplified example, but the point is that if you have a "float" of change at the start of the night, you should have the same amount left at the end of the night. If you don't, you're not making change, you're giving away free money!
DrStrange
4 of a Kind
I keep an oversized package of change to run my bank - easily $300 in small bills. It is nether a loss or gain. It is not part of my buy in. I start with $100 worth of change in my cash drawer and take $100 out at the end of the night and put it back in the safe. I do not want my losing nights to wipe out my reserve of small bills - and the winner might not want a pile of ones and fives rather than a few $20s
This is an essential duty for the host to take care of. You need to be able to pay out at the end of the session. I don't cash out quarters, other games might cash out to the last penny.
DrStrange
This is an essential duty for the host to take care of. You need to be able to pay out at the end of the session. I don't cash out quarters, other games might cash out to the last penny.
DrStrange
xxmurrxx
Two Pair
It will all even out if done correctlty. Cashing out to the nearest dollar is a lot easier as well (depending on your stakes) Just make sure the players know this prior.
spikeithard
Flush
It can be slightly confusing at times when you have a super busy table that your hosting and 2 rebuys at the same time while making pizza money change... I can get a little lost track of bank for a moment and I need to take 20 sec and run it all down in my head what I am doing. I am not a strong math guy at all to start anyways.
I'm not sure I understand the question. There shouldn't be any loss...?
For example suppose you have eight players and a buy-in of $50, and you know everyone will bring 3 x $20.
Ahead of time, you could get $80 in $10 bills and put them in a box. As people buy in with their 3 twenties, you give them change of $10 each.
Once eight players have bought in and you've given them all change, there's 8 x 3 x $20 = $480 in the box, which is 8 x $50 plus your original $80.
At the end you cash out the $400 from the buy-ins, and you're left with $80 in twenties instead of tens.
So again: What loss?
Obviously this is a simplified example, but the point is that if you have a "float" of change at the start of the night, you should have the same amount left at the end of the night. If you don't, you're not making change, you're giving away free money!
i guess what I'm trying to find out is that i would be funding the bank with my own personal money?
xxmurrxx
Two Pair
Yes, but you're not really out that money it's just there to make change.
Yes, that's part of being the host. My point was that you shouldn't be losing money by making change.
This is all I do as well. I buy-in with dollars and fives and everyone else buys in with their $20s.
Yup.
For example:
$50 buy-in
I use (5) $10 bills. I'm good. Bank =$50
The next five guys buy in with (3) $20 bills (because they are too lazy to get change themselves
) Bank = $350 (+$50). I throw these in the bank and grab the (5) $10 bills I used for my buy-in as their change and give them each their $10 change. Bank is now correct = $300.
Also what you can do before the game is go to the bank and take out an extra $50-$100 in small bills. If you need more change during the night, just grab a $20 from the poker bank and throw in your (4) $5 bills. You don't "lose" money at all.
For example:
$50 buy-in
I use (5) $10 bills. I'm good. Bank =$50
The next five guys buy in with (3) $20 bills (because they are too lazy to get change themselves
) Bank = $350 (+$50). I throw these in the bank and grab the (5) $10 bills I used for my buy-in as their change and give them each their $10 change. Bank is now correct = $300.Also what you can do before the game is go to the bank and take out an extra $50-$100 in small bills. If you need more change during the night, just grab a $20 from the poker bank and throw in your (4) $5 bills. You don't "lose" money at all.
Don't confuse bank with prize pool. Register at McD's starts with $100, when it is counted, $100 is subtracted, the rest is cash sales and should equal cash sales. Starting you bank with $100 in small change doesn't increase the payout, you don't dump the bank on the table like WSOP, just the buy-in (minus house if applicable).
Hosting is always a loss, you guys never really recover your investments, which is why I doubt I would ever be a host.
Hosting is always a loss, you guys never really recover your investments, which is why I doubt I would ever be a host.
DrStrange
4 of a Kind
I always ask for small bills from the players to help with the change bank, but always have enough in reserve.
DrStrange
DrStrange
DrStrange
4 of a Kind
HEY - when I host I get to play with all sorts of nifty vintage chips rather than dice chips! Let's keep our priories straight,
DrStrange
DrStrange
"Tens"? From a chipper? Oh, the irony!
LOL! Just because I use $10 bills for payouts (e.g., to pay out $132) doesn't mean I use $10 chipes.
FWIW, I used to seed the bank with $100 in small bills when our buy-ins were $60. These days most of our buy-ins are $100, and I no longer feel the need to seed the bank.
As BiGGyT mentioned, whether the host seeds the bank or just buys in with smaller bills, there is no loss unless of course the host shorts the bank. Nobody -- absolutely nobody -- should ever have access to the bank other than the one person, usually the host, who is responsible for the bank including all buy-ins and cash-outs.
trever
Flush
If you're doing tournaments, set your buyin amount in increments of $20. Everyone is going to want to pay with $20's or $100's anyway, so do a $60 tournament instead of $50, and you'll never have to worry about having $5's and $10's to make change.
For cash games, like the others have said, pay your buyin amount with $1's and $5's and you'll always be able to pay out the correct amount at the end of the night.
For cash games, like the others have said, pay your buyin amount with $1's and $5's and you'll always be able to pay out the correct amount at the end of the night.
The Citiwide Change Bank should be able to clear this up.
I'm confused with this statement.
CdnBeerLover
Full House
For cash games, I have a "float", which is a set amount of small change for that purpose. If the cash in / cash out is done properly, the size of the float should be the same at the end of the night as it was at the beginning. So I fund the float, but it should always have the same value.
Now if you round payouts up or down, it may vary slightly, but it shouldn't be significant.
Now if you round payouts up or down, it may vary slightly, but it shouldn't be significant.
DrStrange
4 of a Kind
Hosting my game adds up.
My wife cooks a full dinner, depending on the meal that runs $30 to $50.
Drinks, paper goods, cup, set ups etc maybe another $20.
The players bring deserts and some snacks
Then we play on a fancy table with vintage casino chips - - priceless (but not cheap)
So $50 - $70 gross per game. The players leave tips - say $25 Net outlay per game ~$35.
I host about 40 nights a year - - - - $1,400 a year to host.
The bank has nothing to do with it.
worth every penny -=- DrStrange
My wife cooks a full dinner, depending on the meal that runs $30 to $50.
Drinks, paper goods, cup, set ups etc maybe another $20.
The players bring deserts and some snacks
Then we play on a fancy table with vintage casino chips - - priceless (but not cheap)
So $50 - $70 gross per game. The players leave tips - say $25 Net outlay per game ~$35.
I host about 40 nights a year - - - - $1,400 a year to host.
The bank has nothing to do with it.
worth every penny -=- DrStrange
links_slayer
4 of a Kind
One regular in my game cashes out to the quarter every time we play. He's got every right to do it that way even though everyone else always rounds to at least the nearest $5, sometimes $10 or $20 as a thank you for hosting. I always tell them it's their money and they can do with it what they please - it's not necessary but certainly appreciated.
Oh, to the topic - I keep $50 in the coffee can: $5 in quarters (lolololol...), 10 x $1, and 7 x $5.
Oh, to the topic - I keep $50 in the coffee can: $5 in quarters (lolololol...), 10 x $1, and 7 x $5.
If you host a game, you spend money on tables, chairs, chips, drinks, snacks, toilet paper, etc. You have to clean up after slobs and drunks who spill beer on your tables and chips. Unless you are raking in the big cash, you are always losing. Hosting is an expense in time and materials, not to be taken lightly.
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