- Casino Comps Formula
- How Do Casinos Calculate Comps Present Value
- How Do Casinos Determine Comps
- How Do Casinos Calculate Comps
Free casino comps and given by the casino as an incentive to gamble more. Whether it's really free or not is a subject of debate, though. After all, if you're losing more money than the value of the free stuff you're getting, it's not really free at all. Some players specialize in taking advantage of the comps system at the casinos, too. The casino wants to calculate comps based on a low number of hands per hour. They'd actually like you to play much faster than that, so they're making more money and under-comping you. They'd actually like you to play much faster than that, so they're making more money and under-comping you.
Comps issued to customers make up the lion's shar e of player reinvestment expenses. However, not all comps are associated with player reinvestment. Those that are include system generated comps that ar e issued thr ough the property's casino management system, primarily for meals at the casino's restaurants.
By Henry Tamburin
Here's a primer on casino comps. Just remember this golden rule: If you don't ask for a casino comp, you'll never get one.
What is a Casino Comp?
A 'comp' is an abbreviation for complimentary. They are the free goods and services provided by the casino to its players. Comps can range on the low end to free drinks and free valet parkingall the way up to free room, food, beverage and transportation.
The best online gambling sites. What are the Requirements to Get a Comp?
The only requirement is that you gamble. Most casinos require that you bet at a certain level and play for a specific period of time in order to qualify for a comp. The more you bet and thelonger you play the higher the level of comp you can expect.
I Thought Comps Were Only For High-Rollers?
That's one of the misconceptions about comps. You don't need to be a high roller to get a comp. Yes, we all know the stories about high rollers that get shuttled to and from Las Vegas on aprivate jet, picked up in a chauffeured stretched limo, given a luxury suite twice the size of your home, and dine in ultra-swank gourmet restaurants 'on the house.' But casinos also offervaluable comps to low rollers that include free meals, free or discounted rooms, and free show tickets.
Why do Casinos Give Players Comps?
Casinos need steady customers and they know there is a lot of competition for players. Therefore, they offer comps to loyal players as a reward for their business. Comps also have a way ofmaking players rationalize their losses so they return again to the same property. Comps also stimulate players into betting at higher levels and longer because most players mistakenly believethat when they get a comp they are getting something for nothing.
Do I Have To Lose To Get a Comp?
This is another misconception. Comps are not based on how much you lose (or win) but on the total amount of money you've wagered (known as the amount of 'action' you give the casino). All thecasinos want is a shot at your money at their tables and machines.
Casino Comps Formula
How Do I Get a Comp if I Play the Machines?
You need to sign up for a Player's Card and keep it inserted into the machine's card reader while you play. The casino's computer will keep track of how much money you play through the machine.Always make sure your card is registering properly so you get credit for your play. Also check at the Player's Club if you are entitled to any freebies just for joining (casinos often havepromotions to entice players to sign up).
How Do I Get a Comp if I Play the Tables?
You must ask to be ‘rated' when you play in the pits in order to be eligible for a comp. Getting rated means the pit boss or floor supervisor will keep track of the hours you play and youraverage bet size. In some casinos you can use your Player's Card to get rated while others issue a different rating card for table players. If unsure just inquire at the Players Club or ask acasino host. When you sit down to play just slide the card to the dealer with your buy-in and the dealer will hand it to the floor supervisor, who will begin the rating process (in some casinosthe dealer has a device on the table that he/she uses to swipe your card to initiate the rating process).
Are There Any Tricks of the Trade to Getting More Comps Faster?
Yes, and two good books to help are More Frugal Gambling by Jean Scott andComp City by Max Rubin.
Are There Any Downsides to Comps?
Most players are envious of other players who get 'comped.' These players play right into the casino's hands because by betting more and longer than they intended in the pursuit of a comp, mostplayers will end up losing more then the comp was worth. Never play longer or bet more for the sake of a comp. Just learn how to use the system to get your fair share of comps for your normalplay.
Henry Tamburin, Ph.D. is a well-known and respected blackjack expert with over 500 published articles on blackjack that have appeared in numerous print magazines, newsletters, and onlinesites over the past 45 years. He is the author of the Ultimate Blackjack Strategy Guide (free to read at https://www.888casino.com/blog/blackjack-strategy-guide), and a regular invitee to the Blackjack Ball, which is anexclusive gathering of the world's top professional blackjack players.
The first thing to understand is that casinos award comps based on how much money you're betting. This is true regardless of whether you play table games or slot machines. The basic formula theyuse to evaluate your action follows:
Bets per hour X Average bet size = Amount of money wagered per hour
Here's an example:
3 card brag. You're a slots player. You play for $3 per spin, and you make 600 spins per hour. That means your comps are based on $1800 per hour in action. (The casino tracks this via your slots club card.)
Here's another example:
You're a blackjack player. You play for between $10 and $100 per hand, but the pit boss has you rated as a $10 per hand player. You average 70 hands per hour. The casino awards you comps based on$700 per hour that you put into action. If you can get the pit boss to rate you higher, say an average of $50 per hand, you'll get comps based on $3500 per hour in action.
How Do Casinos Calculate Comps Present Value
Comps issued to customers make up the lion's shar e of player reinvestment expenses. However, not all comps are associated with player reinvestment. Those that are include system generated comps that ar e issued thr ough the property's casino management system, primarily for meals at the casino's restaurants.
By Henry Tamburin
Here's a primer on casino comps. Just remember this golden rule: If you don't ask for a casino comp, you'll never get one.
What is a Casino Comp?
A 'comp' is an abbreviation for complimentary. They are the free goods and services provided by the casino to its players. Comps can range on the low end to free drinks and free valet parkingall the way up to free room, food, beverage and transportation.
The best online gambling sites. What are the Requirements to Get a Comp?
The only requirement is that you gamble. Most casinos require that you bet at a certain level and play for a specific period of time in order to qualify for a comp. The more you bet and thelonger you play the higher the level of comp you can expect.
I Thought Comps Were Only For High-Rollers?
That's one of the misconceptions about comps. You don't need to be a high roller to get a comp. Yes, we all know the stories about high rollers that get shuttled to and from Las Vegas on aprivate jet, picked up in a chauffeured stretched limo, given a luxury suite twice the size of your home, and dine in ultra-swank gourmet restaurants 'on the house.' But casinos also offervaluable comps to low rollers that include free meals, free or discounted rooms, and free show tickets.
Why do Casinos Give Players Comps?
Casinos need steady customers and they know there is a lot of competition for players. Therefore, they offer comps to loyal players as a reward for their business. Comps also have a way ofmaking players rationalize their losses so they return again to the same property. Comps also stimulate players into betting at higher levels and longer because most players mistakenly believethat when they get a comp they are getting something for nothing.
Do I Have To Lose To Get a Comp?
This is another misconception. Comps are not based on how much you lose (or win) but on the total amount of money you've wagered (known as the amount of 'action' you give the casino). All thecasinos want is a shot at your money at their tables and machines.
Casino Comps Formula
How Do I Get a Comp if I Play the Machines?
You need to sign up for a Player's Card and keep it inserted into the machine's card reader while you play. The casino's computer will keep track of how much money you play through the machine.Always make sure your card is registering properly so you get credit for your play. Also check at the Player's Club if you are entitled to any freebies just for joining (casinos often havepromotions to entice players to sign up).
How Do I Get a Comp if I Play the Tables?
You must ask to be ‘rated' when you play in the pits in order to be eligible for a comp. Getting rated means the pit boss or floor supervisor will keep track of the hours you play and youraverage bet size. In some casinos you can use your Player's Card to get rated while others issue a different rating card for table players. If unsure just inquire at the Players Club or ask acasino host. When you sit down to play just slide the card to the dealer with your buy-in and the dealer will hand it to the floor supervisor, who will begin the rating process (in some casinosthe dealer has a device on the table that he/she uses to swipe your card to initiate the rating process).
Are There Any Tricks of the Trade to Getting More Comps Faster?
Yes, and two good books to help are More Frugal Gambling by Jean Scott andComp City by Max Rubin.
Are There Any Downsides to Comps?
Most players are envious of other players who get 'comped.' These players play right into the casino's hands because by betting more and longer than they intended in the pursuit of a comp, mostplayers will end up losing more then the comp was worth. Never play longer or bet more for the sake of a comp. Just learn how to use the system to get your fair share of comps for your normalplay.
Henry Tamburin, Ph.D. is a well-known and respected blackjack expert with over 500 published articles on blackjack that have appeared in numerous print magazines, newsletters, and onlinesites over the past 45 years. He is the author of the Ultimate Blackjack Strategy Guide (free to read at https://www.888casino.com/blog/blackjack-strategy-guide), and a regular invitee to the Blackjack Ball, which is anexclusive gathering of the world's top professional blackjack players.
The first thing to understand is that casinos award comps based on how much money you're betting. This is true regardless of whether you play table games or slot machines. The basic formula theyuse to evaluate your action follows:
Bets per hour X Average bet size = Amount of money wagered per hour
Here's an example:
3 card brag. You're a slots player. You play for $3 per spin, and you make 600 spins per hour. That means your comps are based on $1800 per hour in action. (The casino tracks this via your slots club card.)
Here's another example:
You're a blackjack player. You play for between $10 and $100 per hand, but the pit boss has you rated as a $10 per hand player. You average 70 hands per hour. The casino awards you comps based on$700 per hour that you put into action. If you can get the pit boss to rate you higher, say an average of $50 per hand, you'll get comps based on $3500 per hour in action.
How Do Casinos Calculate Comps Present Value
'Action', in this context, refers to how much money you're risking.
I'd like to make a couple of observations:
The first is that comps aren't awarded based on your losses. It's based on how much action you're brining. The casino relies on its unassailable house edge to take care of whether you lose money.
How Do Casinos Determine Comps
In fact, the casino knows that the more you play, the closer your results will inevitably get to the mathematical expectation.
The second observation is that your hourly action on machine games is specific and accurate. That card tracks it to the penny.
On the other hand, table game dealers evaluate your action per hour based on estimates. This point is important, because you can use it to your advantage.
How Do Casinos Calculate Comps
Comps are awarded as a percentage of your overall action. Casinos in miami florida area.
