legends
- Thread starter kewljason
- Start date
Well the only way i can think of is ....alot of the customers don't play their free play ...
I wonder what that percentage is....I suspect quite high.
We have to remember the vast majority of people cant even comprehend what we take for granted when it comes to AP stuff... Heck even on this site, i wonder how many have really studied this type of "stuff"....
Machinist
I wonder what that percentage is....I suspect quite high.
We have to remember the vast majority of people cant even comprehend what we take for granted when it comes to AP stuff... Heck even on this site, i wonder how many have really studied this type of "stuff"....
Machinist
I can guarantee you that many civilians play their free play; the problem is that they don't know how to maximize it. If you have $150 in FP and your total bet equals $1, you just spin 150 times and walk, having fulfilled your requirement. Civilians will usually put the FP in, play past the 150 spins, and keep going until they bust or get bored—and we both know they don't get bored.
When you say you "spend" $100, do you mean you play $100 in action or lose $100 total? Slot comps are generally based on how much you feed through the machine. So if you only have to feed it $100 to get a $10 FP, it's not quite break-even. Assuming that the hold on the average machine is 10% (which is what I normally assume, not necessarily what's correct), your expectation for $100 of action on a machine is $90. Your expectation on a $10 FP would thus be $9, making your total expectation $99.
Now if you get two $10 FPs, your expectation is now $108, giving you an expectation of being $8 up by the end of it all. Now the issue is opportunity cost. How much is your time worth?
Now if you get two $10 FPs, your expectation is now $108, giving you an expectation of being $8 up by the end of it all. Now the issue is opportunity cost. How much is your time worth?
Also, the idea is to stop after X number of spins, regardless if you're up or down money right? Because those X spins are on the casino's dime? If, after 9 of the 10 spins you end up winning $25, you shouldn't reinvest that into the slot because then you're just giving $2.50 back to the casinos essentially. Do I have this correct?
You have to learn about the various forms of free play. There are comps that you earn and there are marketing comps. One has little to nothing to do with the other.
I'm going to use Harrahs system as an example, but other casinos will pretty much follow the same general pattern.
You join the players club and the casino starts tracking your slot play.
Harrahs give 1 Reward Credit for every $5 you cycle thru a slot machine.
If you are playing a one coin $1 machine , you are betting $1 a spin and every five spins($5 thru), you earn a Reward Credit( ie RCs). Wins and losses don't come into the formula.
Lets say you play 100 spins. You have earned 20 RCs. Your wins or losses are irrevelant. Lets say you play for an hour and end up with 500 spins. You have earned 100 RCs. 100 RCs equals $1 in comps.
Doesn't sound like much, does it?
Most Harrahs machines offer what is known as Bonus Rewards(BRs). These kick in mysteriously and all I can tell you is as you earn more Reward Creidts in a day, your Bonus Rewards grow at a much bigger pace.
Here is an example. Your first 50 RCs earns you almost no BRs, but at 100 RCs, you'll have earned Brs at about a 1-1 pace. 100 RCs in a day will generally get you around 100BRs, as well.
Now, your play has earned you $2 in comps, rather than $1. Small improvement. But now you start earning BRs at a much faster pace. Your next 100 RCs might earn you 500 BRs, so by doubling your play, you now have earned not $2 in comps, but $2 worth of RCs plus $6 in BRs.
Your comp balance is now $8. Still no big deal.
Now your players club info is forwarded to the Marketing Department. Their job is to get you to return to the casino, so they send you some offers to entice you back. you are pretty much unknown to them so they send you a low ball offer of $15 in free slot play.
Now, your end results of having earned 200 RCs is not the $2 in comps you expected, but $8 in comps plus an additional $15 in free slot play.
In most cases, comps you get from marketing offers will dwarf the comps you actually earn on the machines.
I'm going to use Harrahs system as an example, but other casinos will pretty much follow the same general pattern.
You join the players club and the casino starts tracking your slot play.
Harrahs give 1 Reward Credit for every $5 you cycle thru a slot machine.
If you are playing a one coin $1 machine , you are betting $1 a spin and every five spins($5 thru), you earn a Reward Credit( ie RCs). Wins and losses don't come into the formula.
Lets say you play 100 spins. You have earned 20 RCs. Your wins or losses are irrevelant. Lets say you play for an hour and end up with 500 spins. You have earned 100 RCs. 100 RCs equals $1 in comps.
Doesn't sound like much, does it?
Most Harrahs machines offer what is known as Bonus Rewards(BRs). These kick in mysteriously and all I can tell you is as you earn more Reward Creidts in a day, your Bonus Rewards grow at a much bigger pace.
Here is an example. Your first 50 RCs earns you almost no BRs, but at 100 RCs, you'll have earned Brs at about a 1-1 pace. 100 RCs in a day will generally get you around 100BRs, as well.
Now, your play has earned you $2 in comps, rather than $1. Small improvement. But now you start earning BRs at a much faster pace. Your next 100 RCs might earn you 500 BRs, so by doubling your play, you now have earned not $2 in comps, but $2 worth of RCs plus $6 in BRs.
Your comp balance is now $8. Still no big deal.
Now your players club info is forwarded to the Marketing Department. Their job is to get you to return to the casino, so they send you some offers to entice you back. you are pretty much unknown to them so they send you a low ball offer of $15 in free slot play.
Now, your end results of having earned 200 RCs is not the $2 in comps you expected, but $8 in comps plus an additional $15 in free slot play.
In most cases, comps you get from marketing offers will dwarf the comps you actually earn on the machines.
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I would guess that a very small amount of the free play offers that the marketing department sends out are ever played, and the vast majority of those who do play it play long after their FP has run out. If I had to put a number on it, I'd say 99% of all who do play the FP use it to suppliment their regular slot play, not to exploit it.