Nathan
Nathan
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February 25th, 2017 at 6:58:20 AM permalink
In my local casino, they were "giving away" a $100 Macy's gift card. All you had to do was play $500 of your own money! No wonder people ended up begging a certain woman who wasn't playing with a player's card to let them put their player's card in her machine after they lost their money chasing the Macy's gift card! That's absurd when you think about it! You could have just saved your money and just BOUGHT a Macy's gift card or 5 of them yourself at a grocery store instead of having to earn it at a casino.
Guy "won" less than his bet and the slot machine had the audacity to tell him he got a big win! SMH! Also, the Nintendo cartridge is so much more important than the Nintendo console. Without the cartridge, the Nintendo console is just a useless box.
Ibeatyouraces
Ibeatyouraces
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February 25th, 2017 at 7:04:39 AM permalink
Was it "play through $500" or "lose $500"?
"And that's the bottom lineeeee, cuz Stone Cold said so!"
Mission146
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Mission146
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February 25th, 2017 at 7:08:13 AM permalink
Quote: Nathan

In my local casino, they were "giving away" a $100 Macy's gift card. All you had to do was play $500 of your own money! No wonder people ended up begging a certain woman who wasn't playing with a player's card to let them put their player's card in her machine after they lost their money chasing the Macy's gift card! That's absurd when you think about it! You could have just saved your money and just BOUGHT a Macy's gift card or 5 of them yourself at a grocery store instead of having to earn it at a casino.



Are you suggesting that $500 coin-in got you into a drawing for a Macy's Gift Card or that $500 coin-in absolutely would get you the Macy's Gift Card? If you are suggesting the latter of those two things, I find it hard to believe that the casino would offer a promotion that GOOD. Even if you had to buck a House Edge of 15% (which would be really high even on penny slots) you'd still have an expected loss of just $75 in exchange for a $100 Gift Card.

I'd consider that break even, only because I don't normally shop at Macy's and, therefore, attribute the value to the gift card that I could easily sell it for. If you could do the $500 coin-in on VP, even terrible VP, I'd suggest the player has the best of that by a long shot. I don't shop at Macy's, but if I can trade a 5% expected loss on $500 coin in ($25) for a $100 gift card, sign me up!

If, instead, you're referring to a drawing for a $100 Macy's Gift Card, then I'd have to try to figure out how many gift cards there were in the drawing and roughly how many people would qualify for the drawing. The gift card, of course, would still have value but not $75 (the maximum value I would ascribe to it) in value...unless there were more cards than players. At a guess, the Video Poker would have to be pretty darn good for the value that I would assign to the gift card multiplied by the probability of my winning it (expressed as a decimal) to be more than the expected loss.

And, of course, if the gift card were for a place I would normally shop, then it would, in fact, have $100 in value to me as a straight giveaway.
Vultures can't be choosers.
billryan
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February 25th, 2017 at 7:14:17 AM permalink
Why is the ratio of trolls to unicorns so high here?
It's what you do and not what you say If you're not part of the future then get out of the way
Nathan
Nathan
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February 25th, 2017 at 7:25:56 AM permalink
Quote: billryan

Why is the ratio of trolls to unicorns so high here?



I'm not being a troll. I was being serious when I said a $500 requirement for a $100 Macy's gift card is a bad casino giveaway.
Guy "won" less than his bet and the slot machine had the audacity to tell him he got a big win! SMH! Also, the Nintendo cartridge is so much more important than the Nintendo console. Without the cartridge, the Nintendo console is just a useless box.
Ibeatyouraces
Ibeatyouraces
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February 25th, 2017 at 7:27:46 AM permalink
Quote: Nathan

I was being serious when I said a $500 requirement for a $100 Macy's gift card is a bad casino giveaway.


Not necessarily.
"And that's the bottom lineeeee, cuz Stone Cold said so!"
Nathan
Nathan
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February 25th, 2017 at 7:28:16 AM permalink
Quote: Mission146

Are you suggesting that $500 coin-in got you into a drawing for a Macy's Gift Card or that $500 coin-in absolutely would get you the Macy's Gift Card? If you are suggesting the latter of those two things, I find it hard to believe that the casino would offer a promotion that GOOD. Even if you had to buck a House Edge of 15% (which would be really high even on penny slots) you'd still have an expected loss of just $75 in exchange for a $100 Gift Card.

I'd consider that break even, only because I don't normally shop at Macy's and, therefore, attribute the value to the gift card that I could easily sell it for. If you could do the $500 coin-in on VP, even terrible VP, I'd suggest the player has the best of that by a long shot. I don't shop at Macy's, but if I can trade a 5% expected loss on $500 coin in ($25) for a $100 gift card, sign me up!

If, instead, you're referring to a drawing for a $100 Macy's Gift Card, then I'd have to try to figure out how many gift cards there were in the drawing and roughly how many people would qualify for the drawing. The gift card, of course, would still have value but not $75 (the maximum value I would ascribe to it) in value...unless there were more cards than players. At a guess, the Video Poker would have to be pretty darn good for the value that I would assign to the gift card multiplied by the probability of my winning it (expressed as a decimal) to be more than the expected loss.

And, of course, if the gift card were for a place I would normally shop, then it would, in fact, have $100 in value to me as a straight giveaway.



Okay, okay, it was $500 coin in for a guaranteed $100 Macy's gift card. But still, having to spend $500 for a $100 gift card is really steep IMHO.
Guy "won" less than his bet and the slot machine had the audacity to tell him he got a big win! SMH! Also, the Nintendo cartridge is so much more important than the Nintendo console. Without the cartridge, the Nintendo console is just a useless box.
Ibeatyouraces
Ibeatyouraces
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February 25th, 2017 at 8:07:41 AM permalink
Quote: Nathan

Okay, okay, it was $500 coin in for a guaranteed $100 Macy's gift card. But still, having to spend $500 for a $100 gift card is really steep IMHO.


This is where you're wrong. Playing through $500 does not equate to spending $500. Even on a crappy 8/5 JoB, your expected loss is only $13.50783 playing through $500.
"And that's the bottom lineeeee, cuz Stone Cold said so!"
Nathan
Nathan
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February 25th, 2017 at 8:13:23 AM permalink
My local casino also had a $50 dollar umbrella giveaway promotion. Get out of here! That umbrella was worth $6 at the most!
Guy "won" less than his bet and the slot machine had the audacity to tell him he got a big win! SMH! Also, the Nintendo cartridge is so much more important than the Nintendo console. Without the cartridge, the Nintendo console is just a useless box.
Mission146
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Mission146
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February 25th, 2017 at 8:53:32 AM permalink
Quote: Nathan

My local casino also had a $50 dollar umbrella giveaway promotion. Get out of here! That umbrella was worth $6 at the most!



Okay, well that one actually sucks because just the idea of an umbrella being $50 strikes me as objectively ridiculous.

However, that Macy's Gift Card one is killer. Again, even at the $75 in actual value that I would ascribe to it, there are very few slot machines at which I would consider myself at a disadvantage playing for it. Just about any video poker would be very good!

If you have the cash, maybe you should call around to any places that buy gift cards (if there are any in your area) and get an idea how much you could quickly sell such a gift card for. I think those companies turn around and sell them online, which you can also do yourself, but they're usually doing it based on really high seller ratings or websites specifically for doing that.

I am not vouching for the legitimacy of the site to which I am about to link and have never used it, click/use at your own risk because I know nothing about it:

https://www.giftcardgranny.com/buy-gift-cards/macys/

That site lists a bunch of gift cards, gift card sellers, types of cards and values. I see that some of the cards valued at $100+ are apparently listed on EBay and none of them at $100+ are discounted by more than 7.43% as of the second I am typing this sentence. The two listed at exactly $100 in value cost $95 each, are listed on EBay, and are 5% off face value.

Assuming that those gift cards sell for only 5% off face value, I should imagine that the sellers got them for even less than that. I find it difficult to imagine that they purchased the gift cards in order to merely break even.

How long does it take to list a gift card online, wait for it to sell, and then mail it to the buyer? Less than ten minutes of cumulative work, I would suggest. I'd definitely pay you $75 for a $100 gift card if I knew I could turn it around for $95 with very little work involved.

Actual mileage may vary, though, so get an idea of how much you actually could sell it for, of course.

As IBYA just stated, you're looking at an extremely healthy advantage (with the giveaway) on virtually any poker game that is not a Class II machine, and even then, I would think you have a small advantage at a minimum. Look up the minimum return in your jurisdiction, you KNOW the machine can't be any worse than that, so you can calculate your expected loss of $500 coin-in based off of that if you want to.

If my casino was doing that, I'd be selling some gift cards right now, or shopping some clearance rack at Macy's. (Hell with paying retail)
Vultures can't be choosers.

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