Revel promotion sounds too good to be true
http://www.pressofatlanticcity.com/news/press/casinos_tourism/newly-renamed-revel-casino-hotel-will-refund-losses-greater-than/article_f2330af6-d9b1-11e2-b0fe-001a4bcf887a.html
There doesn't seem to be a cap on losses. I wonder if "slot play" includes video poker here?
I don't think it really matters if video poker is included, at 100% rebate I will gladly lose the money playing $25 reel machines hoping for a big payout.
Here is another link mentioning it.
Link
Quote: rdw4potusI wonder if the $100 is a hurdle, or if it's a constant deduction. "players who lose more than $100 will..." So, if I lose $101, do I get back $1 or $101?
Greetings!
I have called the Revel Casino and spoken to the charming, kind and knowledgeable Margarita, and the terms of the offer are as follows:
1.) In conjunction with this offer, the Revel will also match any Free Play offer from any other AC casino for the month of July. The offer from the other casino MUST be a physical mailer, and it must be for the month of July. Every player is limited to one offer from one casino, and from what I can gather, it doesn't matter if you already have a Revel card.
2.) The slot rebate offer extends throughout the month of July. The losses for July 1st to July 31st will be calculated, and if they equal or exceed $100 (with a cap of $100,000) the player will receive Free Play equal to 1/20th of the amount of the loss every week, for twenty weeks, beginning with the first week of August.
3.) The initial $100 lost will also be included as Free Play, but the player must lose at least $100. For example, if a player lost exactly $100 for the month of July, the player would receive twenty offers of $5.00 FP per offer.
4.) Margarita did not initially know the maximum permissible lost, but determined it with excellent promptness, and it is $100,000.
5.) Margarita did not initially know whether this offer extended to Video Poker, but again found out with astounding promptness, and yes, Video Poker may be played with this offer.
I also hadn't realized they renamed the property.
So instead of Revel Resorts, it's now Revel Casino-Hotel?
Haha... yeah that will bring in the gamblers.
Quote: Mission146
4.) Margarita did not initially know the maximum permissible lost, but determined it with excellent promptness, and it is $100,000.
Booking my flight. Whos coming?
"Last month, Revel became the second pet-friendly casino in Atlantic City when it rolled out its Ruff It at Revel program inviting visitors to travel with their four-legged counterparts."
Quote: sodawaterholy shit this is funny:
"Last month, Revel became the second pet-friendly casino in Atlantic City when it rolled out its Ruff It at Revel program inviting visitors to travel with their four-legged counterparts."
Yep...cause hundreds of high rollers thought to themselves....hmmmm I'd go lose a couple of hundred grand at the Revel if only I could bring Fido with me. Darn that no pet policy.
Quote: RogerKintBooking my flight. Whos coming?
You might as well start looking up the schedules for the other twenty flights you could need!
It's a pretty good offer if one is a heavy loser on the slots, anyway, which is what I suppose they want, but I have trouble coming up with any kind of advantageous way to do this. I guess if one is only going to play Progressive Slots, Keno or VP at +EV, then this is something of an insurance against negative Variance, but again, that has to be something you normally do in or around AC, anyway.
There's simply not much value here for someone who is not going to use it every week for the twenty weeks, and even for those people, the FP would have to be fairly substantial (meaning the losses would to be fairly substantial) to even cover the minimal expenses and time of going once/week for those weeks.
If it were me, I would just take the FP match, run it through, and roll out, if that is not where you normally play anyway. I simply don't consider it that great of an offer with having to go back twenty times. Perhaps if someone were local and well-bankrolled they could take advantage of it, obviously, the more money you lose, then the less your costs in going back for twenty weeks will be in relation to the Free Play you are getting, so can take some shots at a High Denom machine, or risk running a substantial loss on +EV machines, get a fair chunk of your money back, over 20 weeks.
If playing -EV machines, I wouldn't bat an eye at this promotion, except the FP match for July.
Quote: Mission1462.) The slot rebate offer extends throughout the month of July. The losses for July 1st to July 31st will be calculated, and if they equal or exceed $100 (with a cap of $100,000) the player will receive Free Play equal to 1/20th of the amount of the loss every week, for twenty weeks, beginning with the first week of August.
Does this mean you have to be at the Revel each week to play your free play or you will forfeit it?
Quote: jonDoes this mean you have to be at the Revel each week to play your free play or you will forfeit it?
Yes, so that's unfortunate. You could probably make 10 trips, going every-other week, if you knew when the change-over days were. For example, if their "week" went from Thurs-Weds, you could go and stay over wednesday nights and hit both weeks.
Quote: Mission146Perhaps if someone were local and well-bankrolled they could take advantage of it, obviously, the more money you lose, then the less your costs in going back for twenty weeks will be in relation to the Free Play you are getting, so can take some shots at a High Denom machine, or risk running a substantial loss on +EV machines, get a fair chunk of your money back, over 20 weeks.
If the cap is really $100,000 (that sounds ridiculous), "pro video poker players" (with an appropriate (i.e. huge) roll) may want to consider this as long as they don't have a 9 to 5 job, obviously. I don't get all the details of 100% loss rebate math, but I have always assumed it was +EV for even ~97% poker machines. How much +EV it is the big question and I'm quite unsure of. But it's a chance to win big with minimal risk (as long as you grind the freeplay out)! But you would have to stay in AC for 20 weeks, meh. And you possibly have to consider hotel costs/food/maybe rental car...but Revel would obviously cover you for awhile since you just lost up to $100,000! Very enticing offer for locals that are well-rolled for sure.
Quote: sodawaterI also hadn't realized they renamed the property.
So instead of Revel Resorts, it's now Revel Casino-Hotel?
Oh, jeez. When will they have chips with the new name?
Quote: tringlomaneIf the cap is really $100,000 (that sounds ridiculous), "pro video poker players" (with an appropriate (i.e. huge) roll) may want to consider this as long as they don't have a 9 to 5 job, obviously. I don't get all the details of 100% loss rebate math, but I have always assumed it was +EV for even ~97% poker machines. How much +EV it is the big question and I'm quite unsure of. But it's a chance to win big with minimal risk (as long as you grind the freeplay out)! But you would have to stay in AC for 20 weeks, meh. And you possibly have to consider hotel costs/food/maybe rental car...but Revel would obviously cover you for awhile since you just lost up to $100,000! Very enticing offer for locals that are well-rolled for sure.
Revel's games aren't great, but there would be a few fair options: $5 9/6 JoB, $5 Illinois Deuces, $5 or $25 9/6 DDB. I'd probably play the $25 DDB and shoot for a nice 5 figure win or total loss. Assuming the freeplay can be run through on VP, $1 JoB would net back most of the losses.
But I agree that access is key. A player wouldn't have to miss many weeks at all before all the value of the promo is eroded away.
Quote: DocOh, jeez. When will they have chips with the new name?
I doubt they will re-issue the chips.
Borgata is officially named "Borgata Hotel Casino and Spa" but its chips just say Borgata on them.
Quote: RogerKintJust for once, can we not spell out on a public board how to fully rape this promo? Just sayin' ;)
lol! Maybe if it weren't at Revel! ;-)
casino hotel in AC that takes dogs in Showboat, as far
as I know, and they're a dump.
So Revel announces today that it's officially changing its name to Revel Casino-Hotel...
Both
Revelcasinohotel.com
and
Revelcasino-hotel.com
are unregistered domains and available. Anyone with $6 can buy them right now.
Great job, guys.
revelcasinohotel.com
This domain is available through
Go Daddy Auctions®.
Auction ends on 09/17/2013 at 05:45 PM PDT
Price: $800.00
The hyphenated version is still up for grabs though.
Quote: VenthusSo, who got it?
revelcasinohotel.com
This domain is available through
Go Daddy Auctions®.
Auction ends on 09/17/2013 at 05:45 PM PDT
Price: $800.00
The hyphenated version is still up for grabs though.
That game is long over. You can easily have the domain name taken away if someone has a trademark.
Quote: onenickelmiracleThat game is long over. You can easily have the domain name taken away if someone has a trademark.
Anybody else wondering if they forgot to register their trademark?
Quote: rdw4potusAnybody else wondering if they forgot to register their trademark?
http://tess2.uspto.gov/bin/showfield?f=doc&state=4808:6x8rjo.2.31
Aww. (There's a few other records that look related too.)
Quote: jonDoes this mean you have to be at the Revel each week to play your free play or you will forfeit it?
I assume yes. In my experience, you have a certain date range for most FP you get anywhere, and forfeit it if you do not use it within the proscribed dates.
Quote: tringlomaneIf the cap is really $100,000 (that sounds ridiculous), "pro video poker players" (with an appropriate (i.e. huge) roll) may want to consider this as long as they don't have a 9 to 5 job, obviously. I don't get all the details of 100% loss rebate math, but I have always assumed it was +EV for even ~97% poker machines. How much +EV it is the big question and I'm quite unsure of. But it's a chance to win big with minimal risk (as long as you grind the freeplay out)! But you would have to stay in AC for 20 weeks, meh. And you possibly have to consider hotel costs/food/maybe rental car...but Revel would obviously cover you for awhile since you just lost up to $100,000! Very enticing offer for locals that are well-rolled for sure.
I don't know, Margarita went and asked on what the cap was because she didn't immediately know, and that's what she came back to me with. I don't claim that any of this stuff is absolutely factual, and the same goes for anytime I call a casino based on something seen in a thread (which I do frequently), I simply claim that this is what I was told by this person at this casino. I almost always post immediately after the call because I write my notes in abbreviations and don't want to mistake anything I write for something else.
I'm not sure how it is +EV on a negative expectation machine, but it may be. It seems that you risk money that you should probabilistically lose in order to get a rebate that will probabilistically not return the amount lost. Maybe it's because you have two shots to come out ahead, I don't know, in that case I wonder what the optimal stopping point should be in terms of losses or wins prior to the rebate. I'm almost inclined to believe you would take any win, and having lost, if you lost more than the EV of running $100 FP through the machine, you would just go ahead and lose the rest of the $100 or win something.
I do agree it's probably a good offer for locals who are well-bankrolled, and again, for those who would lose money playing -EV machines either way.
I also like the chance for a big win with minimal risk. That's why the strategy I would adopt for something like a loss rebate of up to $500 given back the next day would probably be to play a $100 machine and either win $1,000+ or lose the $500, and try to recoup as much of the $500 as possible on a lower denom machine with a decent return. Bet big without gambling big, so to speak.
Quote: RogerKintJust for once, can we not spell out on a public board how to fully rape this promo? Just sayin' ;)
Nothing to worry about, bait & switch would be horrible pub for them, at this point, so I don't see this one changing.
Quote: Mission146I assume yes. In my experience, you have a certain date range for most FP you get anywhere, and forfeit it if you do not use it within the proscribed dates.
Actually, let me modify that. If you mean forfeit it altogether, then I would say no, but you'd forfeit it for the week you missed.
Looking at the 6/5 ("sucker") paytable https://wizardofodds.com/games/video-poker/tables/jacks-or-better/, it looks like there is a .545 chance of losing, so with the rebate you would have $100. If you didn't lose (.455 chance) , the average result would be $195. Adding these results (.545*$100 + $.455*195) = $143.225. Thus, this promotion (at least using this strategy) would be a whopping 43% advantage.
Is my math correct? Can anyone figure out what the advantage is when the player plays to either win $X at $D/hand or bust out? Considering the $100,000 loss cap, what is the optimal $X?
Quote: jonAssuming you go to the Revel, play one hand of video poker at $100 using this promotion, and then leave, I compute the advantage as follows:
Looking at the 6/5 ("sucker") paytable https://wizardofodds.com/games/video-poker/tables/jacks-or-better/, it looks like there is a .545 chance of losing, so with the rebate you would have $100. If you didn't lose (.455 chance) , the average result would be $195. Adding these results (.545*$100 + $.455*195) = $143.225. Thus, this promotion (at least using this strategy) would be a whopping 43% advantage.
Is my math correct? Can anyone figure out what the advantage is when the player plays to either win $X at $D/hand or bust out? Considering the $100,000 loss cap, what is the optimal $X?
Your math looks good to me. The only extra consideration is that you don't really have $100 if you lose. You have $100 in free play, which has an expected value of about $95 in cash.
Quote: rdw4potusYour math looks good to me. The only extra consideration is that you don't really have $100 if you lose. You have $100 in free play, which has an expected value of about $95 in cash.
Yeah, thanks, I just realized that and came back to correct that. So it is really .545*$95 + .455*195 = 140.5 or a 40% advantage.
Quote: Mission146I mean, if I lived one city block from Revel, would I go ahead and walk for $5.00 FP, yeah, probably, exercise is good.
If you lived one block from Revel, it wouldn't be safe for you to walk back with any winnings.
Quote: jonAssuming you go to the Revel, play one hand of video poker at $100 using this promotion, and then leave, I compute the advantage as follows:
Looking at the 6/5 ("sucker") paytable https://wizardofodds.com/games/video-poker/tables/jacks-or-better/, it looks like there is a .545 chance of losing, so with the rebate you would have $100. If you didn't lose (.455 chance) , the average result would be $195. Adding these results (.545*$100 + $.455*195) = $143.225. Thus, this promotion (at least using this strategy) would be a whopping 43% advantage.
Is my math correct? Can anyone figure out what the advantage is when the player plays to either win $X at $D/hand or bust out? Considering the $100,000 loss cap, what is the optimal $X?
What a minute, though, don't you have to adjust your win/loss rates to account for the fact that you would simply play again on a result of One Pair?
Quote: Mission146I believe that Jon has a sound strategy, especially for a same-day sort of deal, but I think with the 20-Week terms, it's fairly worthless to most people. I mean, if I lived one city block from Revel, would I go ahead and walk for $5.00 FP, yeah, probably, exercise is good. If I lived three miles away, would I make a weekly drive there? Absolutely not. You subtract any weeks you miss from the expected return, gas costs, the time it takes going there and back must be worth something...and takes a lot longer than losing the $100 did.
Living not that far from AC, I could really make the trip each week. I would have to take full advantage of the offer, that is, stop my loss at $100,000 (which would cost me on the average $5,000 to convert the free play back to cash) or win $X. I just would like to know what the optimal $X is, but that is way beyond my math ability. Since video poker is a high variance game, I'd also like to know the probability of showing a profit. It probably isn't worth my time, and not sure how I would justify a weekly trip to AC to my wife.
If anyone else is from the area and wants to talk about this promotion, PM me.
While conjuring up complicated plans, it might be a good idea to realize the big downside risk that Revel closes, say, halfway or less through the 20-week redemption schedule.Quote: jonLiving not that far from AC, I could really make the trip each week. I would have to take full advantage of the offer, that is, stop my loss at $100,000 (which would cost me on the average $5,000 to convert the free play back to cash) or win $X. I just would like to know what the optimal $X is, but that is way beyond my math ability. Since video poker is a high variance game, I'd also like to know the probability of showing a profit. It probably isn't worth my time, and not sure how I would justify a weekly trip to AC to my wife.
Quote: sodawaterrevel is not going to close in the next 24 weeks. come on.
Yeah, they should be able to make it through the summer. But I could see them needing to cancel this promotion after the initial period. Especially if they're still relying on DIP financing, and the oversight that comes with it.
Quote: jonLiving not that far from AC, I could really make the trip each week. I would have to take full advantage of the offer, that is, stop my loss at $100,000 (which would cost me on the average $5,000 to convert the free play back to cash) or win $X. I just would like to know what the optimal $X is, but that is way beyond my math ability. Since video poker is a high variance game, I'd also like to know the probability of showing a profit. It probably isn't worth my time, and not sure how I would justify a weekly trip to AC to my wife.
If anyone else is from the area and wants to talk about this promotion, PM me.
Determining optimal stopping points for something like this is far beyond my abilities, but I'd be really surprised if you wanted to go the full $100,000. The amount you expect to return from those rebates results in a greater expected actual loss when the whole thing is over than if you just lose 10K, or something.
If you're really interested in potentially doing this, then I would suggest PMing Teliot and seeing if he is interested in tackling this one. Teliot is Dr. Eliot Jacobson and he runs APHeat.net, so he does this sort of thing with some frequency. Recently, he figured out optimal stop wins and stop losses for Roulette and Blackjack when given a straight loss rebate.
If they get much past Labor Day, you're on for coffee and. Especially when they're offering $49 rooms over the summer to fleas like me.Quote: sodawaterrevel is not going to close in the next 24 weeks. come on.
