We're a bit overdue for an update. This one won't be as data driven as my initial post, but I'll convey everything that has transpired and what I've learned since my initial posts.
In one of my earlier posts, I stated I wanted to keep this experiment a "pure play" by only using snail- and e-mail offers, while paying no mind to the website offers. Two things prompted me to deviate from this plan. One, the mail offers just aren't that strong. That may change in the future, or it may not. Time
might tell. Two, there's a strong chance that I'll be changing my place of residence to Las Vegas in the next twelve months. Hence, I am compelled to take advantage of all offers before my official address changes and, with it, the type of offers. If I move to LV, the initial experiment is screwed.
Since my initial post, I've only given them one more session. I racked up about 1000 points in early March up in the RNO. Same type of machine, an old school $1 3 reel stepper. And, as usual, I got mopped. My actual loss thus far is about $1100, while my theoretical loss is about $400. I calculated my theo using a conservative hold rate of 90%, while the machines I play fall in the 92% - 96% return range, according to the 2010 and 2011 ACG.
As far as the offers - via the website and the mailers - things are going well. I'm still far, far away from being comped the
Hangover Suite at the Palace (nor the
21 suite at the pHO, for that matter), but the low roller rooms are plentiful. I took two nights at HET RNO for free, along with $20 free play. I used the website to get a severely discounted rate at the Flaming Pink during March Madness / St Paddy's / Spring Break week. I have 3 free nights this month at HET RNO, along with another $20 in free play. And next month (May), I have 3 free nights at their mid-tier mid-strip property in LV, along with an entry into an invite-only slot tourney. Nothing says "degen" more than an invite to a private slot tournament.
I've also had a couple of offers for Laughlin. Neither of them were free, but they were discounted well. 4 nights lodging, and a chartered MD-80 (which I've creatively entitled Degenerate Air) for $200. I might take up one of these offers once they get down to about $0.
This whole gig has been entirely entertaining thus far. I absolutely love digging into such subjects. But as far as the money goes, it's about a wash. The value of my realized offers is slightly greater than my actual loss. However, this figure is over 3x my theoretical loss. In other words, if Old Man Variance had been a bit kinder to me, I'd be well ahead.
I'm going to keep plugging away at this, recording all data along the way. One thing I've learned so far: you actually earn Reward Credits on the freeplay money. That's not a big deal when you're only getting $20 like I am, but could be significant with larger offers. A second thing I've learned: stiff them once, and it will be reflected in your offers. I gave them nothing on my March trip, and it now shows when I log on to TR.