Ralph, let’s try to look at this from all sides and mathematically. The casinos have learned from experience that strikers start coming in the weekend prior to the Convention and they want their play.
The collectors want to come to town and win their own red caps knowing that it would almost certainly be cheaper to buy them on Jackpot or that other auction site.
The dealers want to win them as cheaply as possible to be able to resell them at a reasonable price and still make a profit.
The Palms does not have new strikes to offer, other than the red caps and they put a generous amount of red caps per fill. Even at 20 per 50 that I estimate it to be it will still cost about $20 per red cap after turning back in the clears. If they put 5 per 50 which I believe is the average that most casinos use per fill then the cost goes to about $55 per red cap won after selling back the clears. I know $35 difference per red cap win doesn’t seem like much but it adds up to $28,000 extra paid by the collectors at 5 per 50.
I don’t think there is a perfect formula for fills that can make everyone happy, but when one is lopsided in the collectors favor I don’t think one should complain.
|