If you are a moderate high roller who is RFB at a casino more often than not the casino won’t pay your airfare because of how comp ratings are done.
Casinos rate players based on the player’s “theoretical loss” for the time they played. A theoretical loss is the mathematical probability that if you bet this way for an extended period of play you will lose X-amount of money. On any given session, day or trip, rarely will the actual wins or losses come close to the theoretical one but over time the losses will get closer and closer to it.
If your theoretical loss is $16,000 for a three day stay, they will probably give you a beautiful suite, comped gourmet meals, other meals, a limo and shows. They are willing to give you back about $6500 in comps – 40 percent (more or less) of your theoretical loss in other words
They will categorize what they are spending on you as follows:
Limo: $60 per ride (let's say eight rides) $480
Shows: $100 per person per show (two shows, two people) $400
Suite: $2500 per day (three days) $7500
Now you can already see that you have gone way over their estimate of your comp return. They have given you over $10,000. Wowee!
But think a moment. The largest price is a suite. I had this comping formula told to me when I asked my casino host to pay for my airfare. I was told “no, you have exceeded your limit.”
Then I thought: Why would I need a suite at a cost of $2500 per day when all I did there was sleep and shower?
So I asked to be put in a regular room for $250 per night and guess what? Yes, they paid my airfare after that.
Now you can find out exactly what they are valuing you at by just asking to see your screen. That means your host shows you exactly how they have you rated, your theoretical loss, and the comp return plus what all the comps are being valued at.
This article is provided by the Frank Scoblete Network. Melissa A. Kaplan is the network's managing editor. If you would like to use this article on your website, please contact Casino City Press, the exclusive web syndication outlet for the Frank Scoblete Network. To contact Frank, please e-mail him at email@example.com.
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