Diamond in a Day- Positive EV?
October 3rd, 2011 at 6:52:46 PM
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Is it possible that getting Diamond in a Day for Total Rewards (3,000 tier points in one day) is a positive EV event?
While I normally play table games, I do spend a lot of time at a 9/6 JOB game at the Horseshoe in Hammond. I believe that the payback is around 99.5% on that machine. To hit the Diamond in a Day, I would need to bet $30,000 with an expected loss of $150. However, I would get $30 worth of comps plus all the other benefits of being a Diamond member, particulary on my annual trip to Vegas (spend between 4-5 nights).
I have obtained Diamond status for the past couple years based on on mostly table play, but don't get to the casino as often as I used to based on work/family commitments, so there is no way I'd come close unless I did the Diamond in a Day.
Besides, the cheaper room rates and additional $30 worth of comps for hitting Diamond in a Day, I would get access to the Diamond Lounge, no wait for cabs, Diamond check-in, discount off spa services (I go once each trip), etc.
Side note: If I hit a bad run at the video poker machine and lost a couple thousand, while it would obviously hurt, would not have a significant impact on my ability to support my family or pay the bills.
So basically my question is, can this be a positive EV event or am I trying to justify this to myself?
While I normally play table games, I do spend a lot of time at a 9/6 JOB game at the Horseshoe in Hammond. I believe that the payback is around 99.5% on that machine. To hit the Diamond in a Day, I would need to bet $30,000 with an expected loss of $150. However, I would get $30 worth of comps plus all the other benefits of being a Diamond member, particulary on my annual trip to Vegas (spend between 4-5 nights).
I have obtained Diamond status for the past couple years based on on mostly table play, but don't get to the casino as often as I used to based on work/family commitments, so there is no way I'd come close unless I did the Diamond in a Day.
Besides, the cheaper room rates and additional $30 worth of comps for hitting Diamond in a Day, I would get access to the Diamond Lounge, no wait for cabs, Diamond check-in, discount off spa services (I go once each trip), etc.
Side note: If I hit a bad run at the video poker machine and lost a couple thousand, while it would obviously hurt, would not have a significant impact on my ability to support my family or pay the bills.
So basically my question is, can this be a positive EV event or am I trying to justify this to myself?
October 3rd, 2011 at 6:58:48 PM
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It depends on the value to you of the offers you'll get. I did Diamond in a Day with about 3 hours of video poker play at Harrah's Laughlin once. However, I didn't get any offers worth doing -- free room, flea tournaments -- nothing worth doing if you already live in Vegas.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
October 3rd, 2011 at 8:24:35 PM
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Sounds like you can justify it. Diamond is mostly a trifle, but like you said, you can get a lot of free rooms and other silly goodies. It's worth a couple hundred if you maximize.
It would take a really bad run for you to lose a couple thousand in a day.
The Diamond Lounge at Hammond is great, they have some of the best food of any lounge.
It would take a really bad run for you to lose a couple thousand in a day.
The Diamond Lounge at Hammond is great, they have some of the best food of any lounge.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
October 3rd, 2011 at 10:14:31 PM
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If you live in a CET town, the Diamond Lounge is a nice perk I think if you're bringing out-of-town guests once in a while for top shelf libations while watching the game on a HDTV. And don't forget the Great Gift Wrap-up, which is your choice of free gifts based on tier credits for the year (points for the wrap-up = 3x your tier points + 10,000 for making Diamond). Click the menus couple inches down on the above page to see this year's offerings. All free. Plus invite-only tournaments twice a year for Summerfest & Winterfest with free rooms of course.
3000 points doesn't seem so much for DIAD since it's 11,000 for everyone else.
3000 points doesn't seem so much for DIAD since it's 11,000 for everyone else.
"Poker sure is an easy game to beat if you have the roll to keep rebuying."
October 4th, 2011 at 12:14:48 AM
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Is DIAD available in the Vegas casinos?
October 4th, 2011 at 6:45:33 AM
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DIAD is available at all CET properties in Las Vegas.
This is a bad time of year to try to get it though as it will expire in March of 2012. If you go the normal route to get Diamond it will go for the year you get it plus the next year and expire in March of the following, so a potential of up to 2+ years total. If you go the DIAD route it lasts for the remainder of the year you get it and expires in March of the following year. Therefore the earlier in the year the better.
This is a bad time of year to try to get it though as it will expire in March of 2012. If you go the normal route to get Diamond it will go for the year you get it plus the next year and expire in March of the following, so a potential of up to 2+ years total. If you go the DIAD route it lasts for the remainder of the year you get it and expires in March of the following year. Therefore the earlier in the year the better.
