if casino offer 30% loss rebate ....

[beyondbj]

whats the edge we can get if they offer the rebate once after u bet 500 bets ?

and what strategy we should use

 

[stophon]

better yet, how do you kelly bet with such a coupon?

 

[shadroch]

whats the edge we can get if they offer the rebate once after u bet 500 bets ?

and what strategy we should use

You'd still be losing, only you'd lose seventy cents on the dollar. I'd rather keep 100% of my winnnings, thank you very much.
You are reducing the house edge, not gaining an edge of your own.

 

[DownUnderWonder]

One huge bet then 499 tiny ones. Repeat.

Of course, they may not let you, and even if they do, they wouldn't let you do this twice. Do you have more details, do the bets have to be the same size, does a certain average need to be maintained, what games etc?

 

[RJT]

A loss rebate is the same as an online sticky bonus. Is there a limit on how much the casino will refund? If not your best strategy is to bet the $500 in one go - if you win you win $500, if you lose you only lose $350. So to calculate your ev for this you would use the formula

Average Gain = Bonus * Chance of Bust - Average Wagering * House Edge

Assuming as i have above that the max bonus is $150 this gives us

Average Gain = 150*0.4791 - 500*0.005 (I've used an average HE here and the chance of a loss on for 6 deck S17 game)

Average Gain = $69.36

However blackjack is far from the best game for this type of offer, a fact more fully explained in James Grosjean's 'Beyond Counting Exhibit CAA'.

RJT.

 

[RJT]

I mis-read that post and see now that it is 500 bets rather than $500 wagered. This is somewhat more complicated and again i would recommend reading JG's text.

RJT.

 

[Pro21]

How do they know you have made 500 bets? No pit boss is going to stand there and count them. Can you give more details on how this actually works, and what exactly the rules are?

 

[21forme]

The strategy to use is rathole like crazy.
Last year, I had a $500 loss rebate offer in AC. It was based on minimum of 1 hour of play. I won about $800, but to the pit, it looked like I lost $550. I got a nice check in the mail a few weeks later.

 

[SleightOfHand]

The strategy to use is rathole like crazy.
Last year, I had a $500 loss rebate offer in AC. It was based on minimum of 1 hour of play. I won about $800, but to the pit, it looked like I lost $550. I got a nice check in the mail a few weeks later.

That sounds like a great way to get a MUCH better deal on rebates. Also sounds like it could be illegal or a violation of something.

 

[21forme]

Also sounds like it could be illegal or a violation of something.

How so? Is there a law against putting chips in your pocket? Nobody ever asked me how much I won or lost.

 

[johndoe]

How so? Is there a law against putting chips in your pocket? Nobody ever asked me how much I won or lost.

I think an argument could be made for fraud, as you would be intentionally mis-representing your losses to the casino in an effort to get a specific payout.

This isn't so different for people who hustle/rathole for better comps, though, which seems to be accepted. But in the case of comps, it's not a well-defined payout of X if you lose Y.

 

[moo321]

That sounds like a great way to get a MUCH better deal on rebates. Also sounds like it could be illegal or a violation of something.

Probably not illegal. Possibly a violation of the contract, however.

 

[stophon]

You'd still be losing, only you'd lose seventy cents on the dollar. I'd rather keep 100% of my winnnings, thank you very much.
You are reducing the house edge, not gaining an edge of your own.

I don't think thats true. Take this situation. Say your playing a coin toss game and but you get a 30% rebate if you lose. Your normal EV is:

.5 * 1 = +.5
.5 * -1 = -.5
Sum = 0

But your EV with the rebate is
.5 * 1 = +.5
.5 * -1 * .7 = -.35
=.15

So the rebate takes a break even game and turns into a 15% advantage in your favor. I think this coupon will yield a similar effect in the game of BJ but possibly to a lesser extent.

Because the rebate really changes your RoR, I wonder if you could increase your bets and bump your EV that way too.

 

[Kasi]

whats the edge we can get if they offer the rebate once after u bet 500 bets ?

and what strategy we should use

Wow. Seriously?

After 500 bets, they will rebate 30% of any net loss?

Like an on-line sticky bonus of 30%?

I can't stand up from my chair just thinking about it.

It's better than porn.

 

[beyondbj]

sorry i dont mean bet 500 dollars

is you can get the rebate after u bet 500x 10US

if u lost , u get 30% from your loss , if u win u got no rebate

any forumula for different rebate criteria,

eg: 10% loss rebate after u bet 200x10us , 20% loss rebate after u bet 500x10us.....etc

 

[beyondbj]

How do they know you have made 500 bets? No pit boss is going to stand there and count them. Can you give more details on how this actually works, and what exactly the rules are?

i think they count after u loss certain amount of dead chips

 

[moo321]

I believe the best strategy is betting a lot on a number in roulette.

 

[zengrifter]

You'd still be losing, only you'd lose seventy cents on the dollar. I'd rather keep 100% of my winnnings, thank you very much.
You are reducing the house edge, not gaining an edge of your own.

Wouldn't he have an edge?? zg

 

[Traveller]

whats the edge we can get if they offer the rebate once after u bet 500 bets ?

and what strategy we should use

I have a question regarding this offer. Is it a one off offer or is it that after 500 bets and you get your 30% refund if you lose, can you make another 500 bets and have the same offer apply?

 

[Cardcounter]

My bet is even if you are head by $800 you probably lost more than $500 in the process in specific hands. If you can get a 30% rebate everytime that you lose a hand that could be a huge advantage!
When I get free slot play I have to play then if I lose I get a credit for what I lost even if I win I still get credit.