Re: REBATES OK FOR BIG PLAYERS (594 Views)
Posted by:
ExPlayer (IP Logged)
Date: January 17, 2004 10:39PM
Ok, you make some interesting points. But BREAKING EVEN or LOSING 2 or 3% still requires some level of SKILL.
Now, I can think of some ways where you could do that with no skill but we won't go there.
If it was such a no brainer strategy, then the big money from Wall Street would be pumping 50 billion a year through the rebate shops , picking up every last loose cent from the game.
The notion that as the take gets lowered , smarter players [ like me ;-) ] would get back in the game, and kill the prices on all the winners is , well, fanciful. So if the take is zero, what happens then, winners on average pay less than fair value? Give me a 5%-10% takeout , I'll take my chances against the 'smart' money.
And Cozzene, 15% is not a very low take, its a lower take, something completely different.