I open carry often enough out here in Az. I work a gun shop couple days a week and open carry to and from the shop and in the shop all day. I'm faster in open carry mode by over 1/2 second should an attempt be made to take us down by bangers coming in the door; and open carry in the shop actually prevented an attempted take down of the register by three young bangers who were packin under their shirts when questioned about their intent while my hand was conveniently placed in close proximity to the firearm they could see.
I wouldn't carry openly going into some area where there was a crowd, retention could be problematic if someone wanted to get froggy and test the waters, pretty easy to lose it I'd think in that situation.
If you don't have a physical presence and are small and light, you might invite an attempted take away, on the other hand I think if you have project a physical presence and awareness and not lax in letting people get close enough to make an attempt, I don't think it's much of a possibility, certainly a possibility, but not a high probability.
Couple that with the BUG they don't see in the back pocket and some training in retention and martial skills, I'd think most situations could be handled if you have any skills at all if someone got stupid and tried it.
Brownie