Slot Tournaments?

[Slick Vic]

I got an email from a casino saying that I've been invited to play in a slot tournament coming up in a few days. I'm a pretty established patron at this casino. Does anyone here have any experience with these? Normally I would check this out anyway, but to register I would have to take the day off from work and I don't want to use a vacation day unless I know these are good opportunities.

If it's a good opportunity, are there any hints to winning? Or is this really just a seat-of-your-pants luck sort of thing?

 

[KenSmith]

It's all luck, and the whole process is pretty annoying. That doesn't mean it is a bad deal though. I have played some of these that were well worth the trouble, including a few that were worth $500 or more per player. Figuring your value is simply a matter of comparing the prize pool to the estimated number of players. Hopefully you can get estimates of both before you make your plans. Usually the casino hosts have a good idea about the expected attendance.

Just divide the prize pool by the number of expected players and you'll get a dollar value that will let you decide whether attending is worth the trouble.

 

[Mr. T]

Yes Ken is right. It is all luck.
I have played in a few of these tournaments, but only because the casino offers tremendous benefits. Like throwing in $100,000 cash pool and a free cabin on a cruise ship.
If you have that I would go for the minimum bets except for the last 3 rounds where you could ramp up your bets if you have a chance to go into the next round.

 

[KenSmith]

Usually there is no choice of bet size. Only one button on the slots even operates, the Spin Reels button. By the way, my comments above assume this is a free-entry event. If you have to pay an entry fee, you'll need to subtract that from the value. Most entry-fee slot tournaments are worthless, although some casinos hold high-end invitationals with considerable value. For example, many of the MGM properties often hold events with a $4000 entry fee for a $5000 value. (100 players, $500,000 prize pool.)

 

[Mr. T]

Ken, it doesn't sound like a very good deal to me.
You pay $4000 for $5000 value. After expanses would you come out ahead.
That is if you have the ability and willingnes to plonk down $4000 up front.

 

[Mr. T]

To add to the above posting, here is such a tournament that is worth entering.

http://www.blackjackinfo.com/bb/showthread.php?t=6597

 

[KenSmith]

Ken, it doesn't sound like a very good deal to me.
You pay $4000 for $5000 value. After expanses would you come out ahead.
That is if you have the ability and willingnes to plonk down $4000 up front.

For casual players, this is probably not a good deal because of the tax consequences of a big win. For a pro, it's an easy decision to participate, assuming that travel expenses are negligible, and opportunity costs of other ways to spend that time aren't an issue.

 

[Slick Vic]

From what I've read, it doesn't really sound like a good deal. I called information, and they weren't very helpful. They just said "it all depends" for how many participants, and they didn't tell me about what the entry fee might be.

If this helps, the prize for 1st place is either $700 or $1500 in freeplay. There's a second place, third place, fourth place, and fifth through tenth place prizes as well, each of decreasing money. Travel expenses are nothing, since this casino's within short driving distance. But without knowing my chances or the entry fee, I just don't want to blow a vacation day.