Ellis Island Pit Chip

Curious about the EI coupon for the $25 chip w/buy in, wondering if people have had a sense of how long is expected to play? Creative offer on their part, and I don't mind playing awhile for it--just want to be sensitive to not getting up sooner than might be appropriate in light of what they're offering w/this.

kouponking,

I think that the relationship between players and casinos has evolved to the point where the casino staff really won't give a darn if you play the promo, win your $25 on the first hand, and head for the hills.

I too feel a little guilty about doing it, but I overcome it, and I've never had an issue. Only thing I try not to do is be the only person at the table and leave, dealers get bummed out when their lone player leaves. Standing there for shift after shift with nothing to do (Downtown Grand weekdays) has to be awful.

Each to his own on this but to me it's a $100 buy in. Myself, I'm cycling $100 minimum through in small bets one time. If I'm well ahead at that point I'll set a stop loss point and rigidly stick to it which will guarantee that I walk a winner but allow me the chance for a bigger win. If I'm under $100 after one cycle then I cut bait. Honoring a coupon as written helps the coupon to stay alive in the future. Besides washing $100 in craps from the dark side with no odds bets has only a $1.40 expected loss. If you get a $25 free bet chip for the effort then the math is basically 25-1.4%=24.65. 24.65-1.40= $23.25 expected profit using expected value theory assuming dark side bets with no free odds bets and only one cycle. Your results may vary. Good luck!

Just to clarify, the $25 free bet chip played at passline craps is not worth $25 - 1.4%, it has a value of $12.50 - 1.4%, or $12.33.

The coupon's quite clever, because they're obviously trying to attract players with SOME money. $100 minimum shows them you've got some bankroll (rather than just a player with $30 in their pocket). I'd buy in for red $5 chips, and play blackjack. Decide when to play your $25 non negotiable chip on a hand when you're feeling lucky. It doesn't have to be your first hand of course. Playing some games with your own money first implies you're willing to take the gamble. I'd play a few hands, and either get up (in which case you can leave that table with your winnings, not play your $25 pit chip, and go to a different game to play it - like craps or roulette), or if I had 4-5 bad hands in a row then I might decide to play the $25 pit chip in the hope I'd get my lost money back (with no risk). Clearly they're hoping you'll use their free drinks rounds coupon first, lose your sense of consciousness, then play the tables. LOL

Chillcott, So you are saying they only pay you $25 if you win and they take your $25 free bet chip? I haven't done this promotion yet myself but I am very interested in how it works. Your analysis seems to be for a matchplay coupon not a $25 free bet chip.

???

It's a one-time play, win or lose, replay on push. Worth just under $12 in EV. I'd assume they'd get tired of too many play-once-and-leave experiences. You can give them a lot of legit action before exceeding a $12 expected loss, but I know many don't look at it that way. This offer wasn't something I was thrilled about, despite its value, due to this consideration.

Thanks for the answer. That clears that up!

Can you take 5 times odds (craps) on it?