> --- In vpFREE@yahoogroups.com, "Frank" <frank@> wrote:
> >
> > Her answer,
> >
> > "I could care less about money. I'd work for free if I thought it >would help the world".
>
>
Yes, it's a fantastic empty gesture. "To each according to their needs, from each according to their abilities." Sounds great don't it. What a utopian dream. Unfortunately, it goes totally against human nature. What kind of analogy could be applied from the gambling world? Oh, yes, here's one. The Horseshoe poker dealers.
A long time ago and far far away the poker dealers at the Horseshoe had to split their tips. That was the cause. What was the effect? The effect was they were the slowest dealers in the west. Some of those dealers were so slow you would think you were in Madam Tussaud's Wax Museum. But there were also some very talented dealers there. You could see it when they dealt tournaments. But in the cash games they were abysmal.
Why? Human nature. I know what those talented dealers were thinking. "Why should I crank out 40 hands an hour, raking in all that tip money, just to have to give most of it to those other idiot dealers? Those idiots that are only getting out 20 hands an hour. Why should I make those idiots a living?" So it was a race to see who could be the slowest dealer in the house.
Then one day the house policy changed. The dealers no longer had to split their tips. Oh, Baby! With the better dealers the cards were coming so fast I could hardly keep up. Man, what a change!
Then another thing happened. More hands being cranked out meant more money was going down the hole. When the house seen the big increase in rake they weeded out those little slow ass dealers and brought in better ones.
Work for free? Yeah, you betcha!
[vpFREE] Re: Gambling With an Edge Feb 17th
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