Table limit

The table limit is the minimum and maximum bet that a gambler can make at a gaming table. It is a form of yield management in that the limits can be changed to optimize the profit from a gaming table. Gaming tables have a limited resource to sell, the seats used by the players.

Table limits can also be used to manage, in a limited manner, who plays at tables. A casino that wants to project a more exclusive image can set the limits higher so that the casual tourist walking through would not be as likely to sit down and play. Also games with a lower house edge often have a higher minimum bet. Baccarat almost always has a high minimum bet since the house edge is relatively low. Often a casino will advertise a low minimum game as a teaser, a sign might read $2 blackjack 24 hours a day. However, the $2 minimum game might be available at only one table and the payout might be 6:5 for a blackjack.

Historically the attitude has changed about table limits. In the early 1990s in downtown Vegas, quarter minimum bets were common. The low minimums created a general excitement in the casinos as hundreds of people would jostle to play table games. However, casinos floors generally had twice as many employees as they do today. It also made it much easier to introduce new gamblers to table games. Most casinos today would prefer that the low rollers play slot machines which do not require as much oversight.

Normally the limits are set to optimize the return from the seats. Since all table games give the house an advantage, the larger the bets, the larger the house's profit. So the house needs to manage the minimum bets to keep the seats full. This usually results in a low limit early in the day when there are fewer players with the limits increasing as more players become available.

Players who are seated when the limit is changed are usually grandfathered in at the old limit. In some casinos they retain the old limit until they leave, in others the lower limit will last for a limited period of time.

Casinos are increasingly turning towards expensive virtual gaming tables to offer low minimum table limit games to customers. Although electronic versions of table games like blackjack have been available for years, they typically raise the house edge by paying even money on blackjack to handle the very low table limits. The more expensive virtual games with high definition video simulations of real dealers pay normal 3:2 payouts, but still include some limitations like limiting the player from doubling soft combinations. Since the electronic machines are available 24/7 and do not require a paid dealer, they are popular ways to augment the gaming pit.

...
Wikipedia