10% loss rebate.

[1357111317]

Lets say you get a 10% loss rebate on the following game every day, not cumulative.

8 deck shoe
Stand on soft 17
Split up to a max of 3 hands
Double after split is allowed
No drawing to split aces

The max bet is 200. What is the EV of betting 1 hand of 200 and then stopping and is this the most +EV stratagy.

 

[kewljason]

My guess is they wouldn't honor the rebate for long. I was talking advantage of a loss rebate at Terribles in LV last year and they pulled the plug after I received 3 rebates. As I tried to collect my second in a week, they said there was a limit of 1 per week, and wouldn't honor the rebate even though there was nothing to that effect in the printed material. I decided to stop after that, as who knows what they would come up with next. Apparently it is at their descresion, so I would be sure in your case you know all the details and rules of the rebate promotion up front.

 

[1357111317]

My guess is they wouldn't honor the rebate for long. I was talking advantage of a loss rebate at Terribles in LV last year and they pulled the plug after I received 3 rebates. As I tried to collect my second in a week, they said there was a limit of 1 per week, and wouldn't honor the rebate even though there was nothing to that effect in the printed material. I decided to stop after that, as who knows what they would come up with next. Apparently it is at their descresion, so I would be sure in your case you know all the details and rules of the rebate promotion up front.

Lets say its for academic purposes then.

 

[NightStalker]

There is a better strategy to loss rebate

Lets say you get a 10% loss rebate on the following game every day, not cumulative.

8 deck shoe
Stand on soft 17
Split up to a max of 3 hands
Double after split is allowed
No drawing to split aces

The max bet is 200. What is the EV of betting 1 hand of 200 and then stopping and is this the most +EV stratagy.

EV is always the same but variance can be reduced to almost zero by different betting strategy. PM me with exact details(hidden rules, max rebate) to get best strategy..
PS: I've also played at terrible rebate and they betrayed me on 2nd visit..

 

[moo321]

In theory, you should bet table max then collect rebate upon losing.

In practice, I'd just go in and play and get my losses rebated, so it doesn't look like you're using them.

 

[21forme]

Don't forget about ratholing.

 

[tthree]

Variance is my friend now

Wouldnt higher variance become you ally in this situation. If you could up you chances of a big win while decreasing the downside of variance by close to 10% I would think high variance would exploit this variation the most.

 

[salsa4ever]

how about a martingale type progression?

 

[Sonny]

how about a martingale type progression?

Not the best strategy, unless they are already a martingale player. Figuring out the optimal playing strategy, optimal number of hands to play and EV is covered in The Book.

-Sonny-

 

[shadroch]

Don't forget about ratholing.

I would not take a chance on ratholing if this is an ongoing rebate. Get caught just once and you'd be screwed.

 

[MangoJ]

optimal number of hands to play and EV is covered in The Book.

Which is "The Book" ?

 

[Dyepaintball12]

My guess is they wouldn't honor the rebate for long. I was talking advantage of a loss rebate at Terribles in LV last year and they pulled the plug after I received 3 rebates. As I tried to collect my second in a week, they said there was a limit of 1 per week, and wouldn't honor the rebate even though there was nothing to that effect in the printed material. I decided to stop after that, as who knows what they would come up with next. Apparently it is at their descresion, so I would be sure in your case you know all the details and rules of the rebate promotion up front.

Don't rules have to be printed on the coupon?

 

[kewljason]

Don't rules have to be printed on the coupon?

There is no coupon. But in the case of Terribles loss rebate the official rules were/are available at the casino if you ask. The key phrase in small print is at the descretion of casino manager, basically meaning they can honor it if they want or not honor it they like without much of an explanation. :sad:

 

[alwayssplitaces]

Flat bet and rathole away a few red chips per hour. If you're betting $25, you need to rathole 10 red chips per hour to get rebated your -EV. Then you can consider that you're playing a 0% house edge game, but your negative variance is rebated. Just don't cash out your ratholed chips in the same session.

 

[MangoJ]

Flat bet and rathole away a few red chips per hour. If you're betting $25, you need to rathole 10 red chips per hour to get rebated your -EV. Then you can consider that you're playing a 0% house edge game, but your negative variance is rebated. Just don't cash out your ratholed chips in the same session.

Do you think this is legal ? It is not that you hide your chips that the casino won't know you won. You are hiding chips so that the casino pays you cashback, isn't that plain stealing ?

 

[moo321]

Do you think this is legal ? It is not that you hide your chips that the casino won't know you won. You are hiding chips so that the casino pays you cashback, isn't that plain stealing ?

I don't think it's legal. Sounds like fraud to me. IANAL