Value of a Grandfather chip

[halcyon1234]

I was wondering that, if the situation came up where one could buy a table-min Grandfather chip off another player, how much should one offer?

For example, let's say you're at a $15 table, and some dude has a $5-min chip. He decides to leave. How much can you offer him that it's +EV for you? After all, if you're going to play-all, or at least play some TC 0/-1 hands, it's better to lay down $5 than $15. You'll lose less in the longrun with a lower table min. But you don't want to spend more on the chip than what you'll save by betting less.

I also wonder how the value of that chip changes in regards to how crowded the table is. For example, is it better to play most if not all hands at a lower limit, or wong out and risk not having a seat to wong back into? How many missed +TC shoes is a low-limit play-all worth?

[EasyRhino]

Well, if you're at a place with shoe games, and it's practical to keep wonging, then that would still be preferable to camping out at a table, even if your spread is a couple of times higher.

Then again, if wonging conditions were bad (too small, too crowded, or too empty), then it might be a good deal.

... at the places I play, "grandfathering" is usually just a verbal agreement with the player. Are you saying there's an actual lammer that says "grandpa" on it? And you could successfully trade for it?

[person1125]

Originally Posted by EasyRhino

... at the places I play, "grandfathering" is usually just a verbal agreement with the player. Are you saying there's an actual lammer that says "grandpa" on it? And you could successfully trade for it?

I was wondering the same thing - I haven't seen a lammer like this.

Also-
I would think the casino would be against someone being able to do this. Someone betting less than the table min is -EV for them and they of course want the money.

[GeorgeD]

Originally Posted by person1125

I was wondering the same thing - I haven't seen a lammer like this.

Also-
I would think the casino would be against someone being able to do this. Someone betting less than the table min is -EV for them and they of course want the money.

I've seen tokens that say $5 - $10 or $15 .. whatever ....... used to grandfather you in when table stakes rise. I've never seen anyone "buy" one ... once may have seen a friend take over the spot, but that may have been just for a break.

At one casino I've seen people use back betting as a way to reduce minimum, even once while the guys stayed at his own spot, but of course you have to be sure you spot a good BS player.

[EasyRhino]

I actually ended up getting back-betting at a local place a few weeks ago. The casino didn't explicitly allow back-betting, but the lady let my use her spot when I spread to two hands (+ count) while she sat out, but then she started adding chips to my hand.

It was kind of cool, actually.

[21forme]

I've only ever seen a verbal grandfathering and it wasn't transferable when "grandpa" decided to leave.

[halcyon1234]

At least in the casinos I've been in (in Canada), there is an actual chip that is give to a player when the table mins raise. When that player leaves (for good, not just for a break), the chip is taken back.

I suppose the casino might not allow the transfer, but if it's done without their knowledge, all you really have to do is wait for the dealer to change, then pull the chip out. The new dealer doesn't know you from Anne Murray.

The only time I'd do it is in a really crowded casino. If it's too empty, then the limits (should) already be low.