[A] Casinoboss Answers Your Questions
As for me, I've held a variety of positions in most of the major departments for both small and large casinos in Vegas and around the US as well as at the corporate offices for a few companies.
I stay anonymous for obvious reasons but otherwise am willing to answer anything you might have on your mind about this business of ours!
http://www.lasvegasadvisor.com/forum/messageview.cfm?catid=17&threadid=316207
http://www.vegasmessageboard.com/forums/showthread.php?t=81608
I would be interested in the decision process for slot machine paybacks.
Do you keep eeproms for various paybacks on site?
Who decides?
Are there seasonal changes?
Which are factors in the decision process which paybacks to set? (location within casino, placement near other games / attractions, type of slot, test runs / comparisons of hold over a certain period depending on payback, etc..)
Thanks!
Quote: CanyoneroHi and welcome to the forums!
I would be interested in the decision process for slot machine paybacks.
Do you keep eeproms for various paybacks on site?
Who decides?
Are there seasonal changes?
Which are factors in the decision process which paybacks to set? (location within casino, placement near other games / attractions, type of slot, test runs / comparisons of hold over a certain period depending on payback, etc..)
Thanks!
It's been awhile since I've worked in slots so don't take this as the gospel as what I know is a little dated.
On electronic games, payback is set within the game itself so an eprom change is not necessary. It's just like a menu on your TV.
The slot director and/or corporate (if there is a corporate).
No
Everything you mentioned, depending on the sophistication of the slot director. The more sophisticated ones take a grocery store type of approach with desirable end caps in main thoroughfares and mainstays in the back understanding you will always seek out milk and eggs no matter where in the store they are. But there's really no industry standard.
Quote: MrCasinoGamesWelcome.
Thanks!
Quote: casinobossI'm a casino exec who just likes to talk shop in his spare time. I've done this on a few other boards so I thought I might try here since I'm a little bored.
As for me, I've held a variety of positions in most of the major departments for both small and large casinos in Vegas and around the US as well as at the corporate offices for a few companies.
I stay anonymous for obvious reasons but otherwise am willing to answer anything you might have on your mind about this business of ours!
http://www.lasvegasadvisor.com/forum/messageview.cfm?catid=17&threadid=316207
http://www.vegasmessageboard.com/forums/showthread.php?t=81608
Don't know what your other experiences have been like, but there's definitely a "the casino is evil" contingent here. Good luck.
Quote: MonkeyMonkeyDon't know what your other experiences have been like, but there's definitely a "the casino is evil" contingent here. Good luck.
Yeah, not quite sure why that is.
Quote: MonkeyMonkeyDon't know what your other experiences have been like, but there's definitely a "the casino is evil" contingent here. Good luck.
Well in my book all big corporations are pretty evil so we are no exception.
Welcome casinoboss.
on another forum. You obviously know your stuff,
but are a sporadic poster at best. People ask lots
of questions and you disappear for weeks at a
time, come back and answer a few, then disappear
again. Will you be doing that here as well?
Quote: EvenBobI just took some time and read all 90 posts you have
on another forum. You obviously know your stuff,
but are a sporadic poster at best. People ask lots
of questions and you disappear for weeks at a
time, come back and answer a few, then disappear
again. Will you be doing that here as well?
sure, why not.
Quote: casinobossWell in my book all big corporations are pretty evil so we are no exception.
So its true, Satan himself has experience in the
casino industry? I found a comment you made
on another forum interesting. It doesn't matter
if you lost $500k in the last six months, if you're
winning $50k today you will be dealt with according
to how the casinos bottom line looks today.
They could care less if you donated half a mil last
month. That's fairly evil..
Quote: MrVAre you aware of any developments in the dice slider lawsuit filed by Wynn against the two South American players?
Sorry, I don't.
Quote: EvenBobSo its true, Satan himself has experience in the
casino industry? I found a comment you made
on another forum interesting. It doesn't matter
if you lost $500k in the last six months, if you're
winning $50k today you will be dealt with according
to how the casinos bottom line looks today.
They could care less if you donated half a mil last
month. That's fairly evil..
If Satan is a gaming CEO re-incarnate then I suppose so.
Quote: casinobossI'm a casino exec who just likes to talk shop in his spare time. I've done this on a few other boards so I thought I might try here since I'm a little bored.
As for me, I've held a variety of positions in most of the major departments for both small and large casinos in Vegas and around the US as well as at the corporate offices for a few companies.
I stay anonymous for obvious reasons but otherwise am willing to answer anything you might have on your mind about this business of ours!
http://www.lasvegasadvisor.com/forum/messageview.cfm?catid=17&threadid=316207
http://www.vegasmessageboard.com/forums/showthread.php?t=81608
in one of the forums you said:
With regards to Cash Transaction Reporting (we must report cash transaction in excess of $10,000 to the IRS for money laundering tracking) I suppose it is possible but generally if you got close to that point we'd be watching you anyhow and I don't know why you'd be using a card in the first place.
can you elaborate? whats the difference in using a players card or not when close to $10,000?
and in my casino (MD Live), they ask for id (ie: drivers license) for cashouts of $2500 and type it into the computer. whats that about?
for AP's, you also look for people who consistantly
break even. Why are they a threat to a casino?
Quote: 100xOddsin one of the forums you said:
With regards to Cash Transaction Reporting (we must report cash transaction in excess of $10,000 to the IRS for money laundering tracking) I suppose it is possible but generally if you got close to that point we'd be watching you anyhow and I don't know why you'd be using a card in the first place.
can you elaborate? whats the difference in using a players card or not when close to $10,000?
and in my casino (MD Live), they ask for id (ie: drivers license) for cashouts of $2500 and type it into the computer. whats that about?
Can you send me the link to the post? If I remember correctly the players club question was context for a larger question.
Driver's license = CTR. So we can track your transactions.
Quote: casinobossQuote: 100xOddsin one of the forums you said:
With regards to Cash Transaction Reporting (we must report cash transaction in excess of $10,000 to the IRS for money laundering tracking) I suppose it is possible but generally if you got close to that point we'd be watching you anyhow and I don't know why you'd be using a card in the first place.
can you elaborate? whats the difference in using a players card or not when close to $10,000?
and in my casino (MD Live), they ask for id (ie: drivers license) for cashouts of $2500 and type it into the computer. whats that about?
Can you send me the link to the post? If I remember correctly the players club question was context for a larger question.
Driver's license = CTR. So we can track your transactions.
http://www.lasvegasadvisor.com/forum/messageview.cfm?catid=17&threadid=316207
but you dont file a CTR until i exceed $10,000 right?
at $2500, you're just keeping track if i make multiple transactions in a day (like Ibeatyouraces said)?
Quote: EvenBobYou've posted that not only are you always looking
for AP's, you also look for people who consistantly
break even. Why are they a threat to a casino?
what?! um.. i'm actually up $2000 this year in electronic craps (and used my players card).
didnt think that little amount would have mattered but if they're targeting break even players, then i'm going to be paronoid.
what can the casino do to me?
and as Evenbob said, WHY is the casino bothering breakeven players?
you also wrote:
But hosts work on commission so more than a handful would be willing to take the risk in exchange for your action.
this is the first i've heard of that.
I actually have a host at Las Vegas Hilton (now LVH) which surprised me given my low limit of play. but since my room is comped, i do all my VP play there ($0.25 level).
can you elaborate? how much of the action do hosts get?
Quote: 100xOddsQuote: casinobossQuote: 100xOddsin one of the forums you said:
With regards to Cash Transaction Reporting (we must report cash transaction in excess of $10,000 to the IRS for money laundering tracking) I suppose it is possible but generally if you got close to that point we'd be watching you anyhow and I don't know why you'd be using a card in the first place.
can you elaborate? whats the difference in using a players card or not when close to $10,000?
and in my casino (MD Live), they ask for id (ie: drivers license) for cashouts of $2500 and type it into the computer. whats that about?
Can you send me the link to the post? If I remember correctly the players club question was context for a larger question.
Driver's license = CTR. So we can track your transactions.
http://www.lasvegasadvisor.com/forum/messageview.cfm?catid=17&threadid=316207
but you dont file a CTR until i exceed $10,000 right?
at $2500, you're just keeping track if i make multiple transactions in a day (like Ibeatyouraces said)?
I think what I was meaning to say was that if you're laundering money and trying not to trigger a CTR then why are you using a card in the first place.
It's $10,000 aggregate so we have to keep track if we think you might get to $10,000.
Quote: 100xOddswhat?! um.. i'm actually up $2000 this year in electronic craps (and used my players card).
didnt think that little amount would have mattered but if they're targeting break even players, then i'm going to be paronoid.
what can the casino do to me?
and as Evenbob said, WHY is the casino bothering breakeven players?
We lose money on you after you factor in marketing costs (e.g., direct mail).
Quote: JimRockfordHow is the theoretical loss determined for Ultimate Texas Hold'em for comp purposes? Is it based only on the ante bet or are player raises considered? What house edge is assumed?
Not sure. Where I work doesn't have the game but I'll ask around.
Quote: 100xOddswhat?! um.. i'm actually up $2000 this year in electronic craps (and used my players card).
didnt think that little amount would have mattered but if they're targeting break even players, then i'm going to be paronoid.
what can the casino do to me?
and as Evenbob said, WHY is the casino bothering breakeven players?
This is the second time in two days I've run across this.
In another thread I mentioned I read in a book wtitten
for casino execs that consistant break even players
should not be allowed in the casino. Something to
do with their skill level I believe.
Quote: 100xOddscasinoboss,
you also wrote:
But hosts work on commission so more than a handful would be willing to take the risk in exchange for your action.
this is the first i've heard of that.
I actually have a host at Las Vegas Hilton (now LVH) which surprised me given my low limit of play. but since my room is comped, i do all my VP play there ($0.25 level).
can you elaborate? how much of the action do hosts get?
Lots and lots of different compensation models. Some are just small bonuses for meeting goals (common at smaller casinos) and some are commission based where it's a % of loss (more common at large casinos).
Quote: casinobossWe lose money on you after you factor in marketing costs (e.g., direct mail).
ahh.. so what can i casino do to breakeven players like me?
i only get $20/week free slot play. i do like $30000/month coin in at e-Craps including odds (3/4/5x).
Quote: casinobossWe lose money on you after you factor in marketing costs (e.g., direct mail).
This is a shock to most people who think casinos
are their friends and give good value for the money
they spend there gambling.
Quote: EvenBobThis is a shock to most people who think casinos
are their friends and give good value for the money
they spend there gambling.
EB you and I agree a lot about the casinos. But lets not chase casinoboss outta here with all the mundane casinos are blood sucking leaches stuff, With which I agree. casinoboss seems to be very straight forward and I believe many people on this board stand to gain from his knowledge and experience which he is freely giving.
My question...... I am a low level pai gow player, and I've noticed my comps can sometimes vary widely, I think mostly to the pit boss either over or under entering my average play. Is there a system for checking on the pit boss? It seems that there is an opportunity for fraud against the casino....
Thanks, and welcome to the Wizard of Vegas forums....
Quote: EvenBobI just took some time and read all 90 posts you have
on another forum. You obviously know your stuff,
but are a sporadic poster at best. People ask lots
of questions and you disappear for weeks at a
time, come back and answer a few, then disappear
again. Will you be doing that here as well?
Yes, that sort of behavior is specifically frowned upon. As a case in point, one poster here went on at length about how a particular event of national importance would go down. When it turned out his months of bellowing were just that (so much hot air), he disappeared for weeks. I don't believe he's been able to regain what little respect he previously had since that debacle. So tread carefully, there are many pitfalls 'round these parts.
Quote: rainmanEB you and I agree a lot about the casinos. But lets not chase casinoboss outta here with all the mundane casinos are blood sucking leaches stuff, With which I agree. casinoboss seems to be very straight forward and I believe many people on this board stand to gain from his knowledge and experience which he is freely giving.
Nah, let it fly, he'll find out sooner or later and I already warned him to expect it.
Besides, what could you guys, that already know it all, learn from an experienced professional?
Quote: rainmanEB you and I agree a lot about the casinos. But lets not chase casinoboss outta here with all the mundane casinos are blood sucking leaches stuff, With which I agree. casinoboss seems to be very straight forward and I believe many people on this board stand to gain from his knowledge and experience which he is freely giving.
+1
Quote: MonkeyMonkeyYes, that sort of behavior is specifically frowned upon. As a case in point, one poster here went on at length about how a particular event of national importance would go down. When it turned out his months of bellowing were just that (so much hot air), he disappeared for weeks. I don't believe he's been able to regain what little respect he previously had since that debacle. So tread carefully, there are many pitfalls 'round these parts.
43 days between posts I believe......ahh the good old days!
Quote: MonkeyMonkeyBesides, what could you guys, that already know it all, learn from an experienced professional?
+2
Quote: SOOPOOThe 'casinos don't want break even players' is obvious. Each seat at a table comes with fixed costs to the casino--- the dealer, pit boss, surveillance, alcohol, security, mortgage, etc... Imagine a table with all break even players.... how do they pay their expenses?
My question...... I am a low level pai gow player, and I've noticed my comps can sometimes vary widely, I think mostly to the pit boss either over or under entering my average play. Is there a system for checking on the pit boss? It seems that there is an opportunity for fraud against the casino....
Thanks, and welcome to the Wizard of Vegas forums....
No real system except looking for something out of the ordinary. Once the rating gets put into the system the formulas for creating your direct mail offers and players club comps are pretty automated.
Quote: MonkeyMonkeyYes, that sort of behavior is specifically frowned upon. As a case in point, one poster here went on at length about how a particular event of national importance would go down. When it turned out his months of bellowing were just that (so much hot air), he disappeared for weeks. I don't believe he's been able to regain what little respect he previously had since that debacle. So tread carefully, there are many pitfalls 'round these parts.
I'm just here for fun and if it gets to be a hassle I don't really have anything to lose by closing up shop.
Quote: casinobossI'm just here for fun and if it gets to be a hassle I don't really have anything to lose by closing up shop.
Exactly. I'm hoping you'll stick around awhile, and share your experience with us. As a dealer that is sometimes baffled by the decisions of the suits I may have a few questions for you as well at some point.
Quote: hook3670How do casinos decide what payback percentages to offer on their Video Poker games?
Well it depends on the philosophy of the slot director. Some believe to make them super tight because you don't want anyone who actually knows how to read a paytable and others believe it could be a loss leader.
Does the casino ever notice? And if so why and how?
Quote: hook3670Are they really worried about AP VP players. I would think they are few and far between these days or are they more prevelant than I realize? Also, since most players do not know even basic strategy, I would think even the higher paytables have a very good return to the casino.
maybe unreasonably so but yes
Quote: rainmanLets say a player has figured out how to exploit an electronic gaming machine for $500-$1000 a day playing at the 1-$10 level with no players card and all cash outs done at the automated teller. And Lets say he comes in once a week for 2-8 hrs.
Does the casino ever notice? And if so why and how?
probably difficult. it'd take some work but would start if someone noticed that hold was off on a regular basis.
1. About setting
2. About height of throws
3. About hitting the back wall
4. How "tough" are you on enforcement of rules
Another craps question:
If the dice or a die comes to rest against a chip (not in the bank) and there is a "question" as to which face is showing, how do you determine the face that is called?
Thanks.
Quote: AlanMendelsonWhat are the "rules" for dice throws at your casinos? Please be specific:
1. About setting
2. About height of throws
3. About hitting the back wall
4. How "tough" are you on enforcement of rules
Another craps question:
If the dice or a die comes to rest against a chip (not in the bank) and there is a "question" as to which face is showing, how do you determine the face that is called?
Thanks.
Have never dealt dice and don't work in tables so will have to ask.
