Question by Adamwest!: What is the point of a gambling house splitting winnings/losses with another house?
If a gambling house made a deal with another house, such as splitting the winnings and losses half and half, how would that benefit them?
For example:
(The Gambler) Says i’ll bet you .00 on a coin flip
(The 1st house) Agrees, and makes a deal with a 2nd house to split any lost bets
(The Gambler) Wins the bet, and is paid .00 by the 1st house for his bet
(The 2nd house) Pays 1st house .00 for their agreement
If the gambler had won:
(The Gambler) Says i’ll bet you .00 on a coin flip
(The 1st house) Agrees, and makes a deal with a 2nd house to split any lost bets
(The Gambler) Loses the bet, and pays the 1st house .00
(The 1st house) Pays 2nd house .00 for their agreement
What is the point or benefit of this? Is there an official or unofficial name for it?
Thanks for your answers!
^If the gambler had lost**
Best answer:
Answer by LegFuJohnson
It would just be reducing their risk/reward.
You have a context for this, depending on the instance in question, there certainly could be more of a benefit.
What do you think? Answer below!