Perpetual COMP machine

Quote: AlanMendelson

I would like to compare Mdawg's play to the value of his comps.

I doubt he gets the value he claims.

First of all, hotel rooms including suites, are basically free. Even the Evil Empire handed out free rooms like nickel candy.

If Mdawg is as big a player as he claims I think the true value of his comps is one-tenth of one percent of his sction... not some double digit percentage unless he's a big loser.

link to original post

WIN statements (which are available only after the end of the year anyway) would show the total win, but still wouldn't be enough to evaluate the comps extended. Indeed, knowing how much someone won in the aggregate might not help figure comps at all, for example if someone ended up dead even at the end of the year, still he might've generated massive massive comps along the way.

Theo loss is based on average bet / number of hours played / house edge.

Win $50K in one hand, walk away - not much theo loss, not much comps. Win $50K over ten hours at average $1500. a hand, that's a lot of theo, and a lot of comps.

Which is why the answers to your question would still not address it entirely.

You like to investigate things. How about going to Resorts World and Venetian, just for example, finding a top host, and asking what % of actual loss they comp, and what % of theo loss they comp.


By the way hotel suites are by no means free. Especially nowadays - the casino model is (or at least definitely was, pre-Covid) gravitating more and more towards trying to make money off non-gamblers. You're talking about something from the past, about hotel rooms being considered as automatic freebies by the casino. And maybe you missed this discussion:
https://wizardofvegas.com/forum/questions-and-answers/gambling/36459-perpetual-comp-machine/4/#post824767
about how the average high end resort Vegas hotel room costs something like a million or more to build, such that the hotel needs to recover that somehow, such that - hotel rooms are far from "free."

Covid made plenty of high roller suites available.

Wynn dropped their prices for a very short time. The results - undesirables in the resort - prompted them to raise the rates back up, and metal detect guests at the entrances on weekends last year.

Venetian did have some of that available at low prices for a period, but their prices are on the rise again too.

During Covid, actual loss comps were being handed out at 15%. Back to 10% again now. Contact Venetian or Resorts World if you want to verify.

Again, you're talking about the past. A short period of the past no less.

Anyway, what's your point? Whatever the suite room rack rate is, or less (casino rate, etc.), is where the room comp value is figured. That rate is never 0.

My point is casinos don't give away as much as you say they do

According to you the casinos are getting their clocks cleaned by you at the tables and then again with comps.

Sorry. Doesnt make sense. Certainly doesnt make business sense.

But it would make sense if your comps equaled one-tenth of one percent of your betting, plus the free rooms.

Quote: AlanMendelson

Quote: MDawg

Again, you have misquoted me then, or mischaracterized what I have said: you stated that I have stated that I am never showing any losses.

link to original post

Mdawg instead of this argument why don't you just clear it up for us. What are your exact wins and losses?

State them by day, week, trip, whatever way... so we're all clear on this.

link to original post

MDawg does close to that in his basically hidden thread. He describes a few plays of interest, and how much he won or lost during the day. He’s done that for something like 100 days! What more can you want thats reasonable?

Quote: SOOPOO

Quote: AlanMendelson

Quote: MDawg

Again, you have misquoted me then, or mischaracterized what I have said: you stated that I have stated that I am never showing any losses.

link to original post

Mdawg instead of this argument why don't you just clear it up for us. What are your exact wins and losses?

State them by day, week, trip, whatever way... so we're all clear on this.

link to original post

MDawg does close to that in his basically hidden thread. He describes a few plays of interest, and how much he won or lost during the day. He’s done that for something like 100 days! What more can you want thats reasonable?

link to original post

Just totals. Total bets made. Total value of comps. Two numbers.

My last year playing at Caesars I had a tier score just over 1 million points. That was the equivalent of three and a third Seven Stars. My comps over and above free rooms were not double digit percentages.

Quote: MDawg

During Covid, actual loss comps were being handed out at 15%. Back to 10% again now. Contact Venetian or Resorts World if you want to verify.

Remember, I am a guppy so have no real personal experience with high level comps. But I find it hard to believe there is someone you can ‘call’ at Venetian or Resorts World that will say out loud…. “We will comp you 10% of your actual loss”. Wouldn’t they need to be more vague?

If not, I can round up $1,000,000, bet it on the pass line, win $1,000,000 49% of the time and lose $1,000,000 51% of the time, but get $100,000 in comps? Numbers approximate, concept is valid.

Quote: SOOPOO

Remember, I am a guppy so have no real personal experience with high level comps. But I find it hard to believe there is someone you can ‘call’ at Venetian or Resorts World that will say out loud…. “We will comp you 10% of your actual loss”. Wouldn’t they need to be more vague?

If not, I can round up $1,000,000, bet it on the pass line, win $1,000,000 49% of the time and lose $1,000,000 51% of the time, but get $100,000 in comps? Numbers approximate, concept is valid.

link to original post

you and your wife could each bet 500,000 on opposite sides for an hour and end up owning the joint.

Quote: billryan

Quote: SOOPOO

Remember, I am a guppy so have no real personal experience with high level comps. But I find it hard to believe there is someone you can ‘call’ at Venetian or Resorts World that will say out loud…. “We will comp you 10% of your actual loss”. Wouldn’t they need to be more vague?

If not, I can round up $1,000,000, bet it on the pass line, win $1,000,000 49% of the time and lose $1,000,000 51% of the time, but get $100,000 in comps? Numbers approximate, concept is valid.

link to original post

you and your wife could each bet 500,000 on opposite sides for an hour and end up owning the joint.

link to original post

Yes and this type of scheme has worked at some places in the past so waaah waaah waaah!

Quote: billryan

Evidently, the only person you have bamboozled is Mr. Wizard.

link to original post

Personal insult. Three days.