SouthPoint Casino is holding a special two day bingo session on July 27/28 a total of 66 games (33 per day). A total of $135,000 will be paid to the winners. I won't be in LV then but thought a few readers may be interested. If you've never played bingo check the explanation on the Wizard of Odds site.
The bingo room has 640 seats, and 560 bingo "machines".
The minimum buy-in for both days is $155 ($150 for the 46 regular games and $5 for the 20 early bird games). Extra 6-on sheets for the regular games are $25. Eash buy-in includes 2 breakfast and 2 dinner buffets.
The maximum machine buy-in is $425 (10 6-on sheets for the regular games plus 10 6-on sheets for the early bird games). The maximum non-machine (paper) buy-in is $215 ($200 for the regular games plus $15 for the early bird games).
The prize breakdown (averaging $2045 per game) is as follows:
20 games: $500 (early bird)
32 games: $1199
6 games: $2500
4 games: $3000
2 games: $5000
2 games: $25,000
What would it take to make this a positive game? It depends on two factors: the average buy-in amount and the number of players. Mid-summer, with fewer tourists, and the hefty entry fee, may mean less than a full house. Also, the high cost may mean most players will not buy-in at the highest level.
Assuming this is true, assume 425 players, with an average buy-in of $275. This translates to gross receipts of $116,875 making it a positive game for players. With 425 players, and 66 winners, the odds of winning 1 game are approximately 1 in 6.5. Any win will more than cover the entry fee.
The problem is getting a pre-session estimate of the number of players, and the average buy-in. This isn't easy to do. My suggestion would be to wait as long as possible to buy-in ... just before the start of the first session if possible. If it's sold out by then, or nearly sold out, don't play. Try to estimate the number of players in the room visually ... are there a lot of empty seats? Look at the machine racks to see if many are still available ... machine players play with more cards ... a higher buy-in cost. If most of the machines are taken don't play.
If you think the crowd size is 425 or less, and a lot of machines are available 15 minutes before the session starts, this would be a sign the expectation is positive and it would make sense to play.