How can i make money from holding a poker game?

Question

i want to hold a poker game for students, so it would not be a great amount of of money involved, so whats that best way for me to make money off them, without playing myself, and without them feeling ripped off? hoping to do this alot at uni to earn some easy extra cash

Answer 1

The moment you take a rake or charge to play, you cross the line into illegal gambling.

In most states you can get away with low stakes poker games without causing much of a problem with the law.  But the moment the 'house' starts charging a fee or a rake, you are changing from a friendly low stakes game among friends to an illegal gambling business.

So about the only way to make money is to deal for them and ask for tips, or serve drinks and charge for them (which is still illegal without a liquor license but at least you are not running an illegal gambling hall).

Answer 2

The above answers are technically correct. One ingenious solution I have encountered is a system where you “rent” the table and chairs to the players.

This solution is operating under the assumption that you will have “professional” or paid dealers which will rotate from table to table and take a break as well.

The most common variation of this system is to charge a nominal fee, say, $5 per ½ hour (which is a typical dealer shift per table) per player. So, when a dealer sits at the table, each player gives  $5 cash. The house takes NO rake, and has NO interest in the outcome of the game. Players must pay the “rent” if they are playing or taking a break. You pay your dealers from this rake, and the dealers keep any tips that they may earn.

The keys to keeping this system legal (depending on the state and local laws), are as follows:

1. Clearly post that the “rent” of the chair/table space is for ½ hour at a time.

2. Clearly post that if requested a dealer is available for the players’ entertainment.

3. Only accept CASH for the rents. IF a player only has chips, cash-out $5 of chips to pay into the rent till, so, if the game is “raided” or “audited” the house has ZERO chips in its collection, and every chip IN PLAY has an accompanying cash amount with it.

4. You must provide unique and hard-to-copy house chips to keep things “on the level”

Now, your state laws may vary, but these are some basic guides to “dance” the legality line without blatantly violating the general laws.

Answer 3

As soon as you start turning a profit on the games you're illegal.  Be careful about the previous poster, because that's what's known as a "time rake".  Higher limit tables in Vegas do it all the time, which sets a precedent.  You can claim you're only renting the tables and chairs, and providing a dealer free of charge, but the difference between that and a time rake is negligible.  You'd have to convince a judge that you weren't simply taking a time rake, and that would be pretty tough to do.  If a prosecuting attorney can show that there is no difference in how the two systems work you're screwed.

Here's what I was thinking might work.  Get an email list together, and charge people an alert fee.  You could do this by each alert or a flat monthly fee.  Every time you host a game you send out an alert to everyone on the list, and then the game itself is free.  At least in terms of rake or entry fee (there is none).  ALL the money they brought with them would go into the prize pool.  It's just a friendly and free (no rake) invitation only game, coordinated by you via computer.  Let's say 50 people join your list for $5 per alert.  You hold two games a week.  That's $500 a week for doing them the service of letting them know that a free game is available.  I don't think that's illegal.  If it is I'm sure somebody else will tell me.

Answer 4

Table takes percentage from each pot won.

Answer 5

If you playing against your friends, I suggest just asking that everyone either bring food or booze. Gives you free drinks and dinner and then hopefully your good enough to beat them on the table to take their cash too. Can't ask for much more than that,