I did this when the Wynn had that buffet deal. You bet $68 on black and red OR odd and even and then $4 on the zero. You will lose $4 per spin with a bet of $140 every time 1-36 comes up. If zero comes up and pays 35-1 like I believe it does you break even on that spin. A double zero machine you would have to cover both zeros so your losses per spin would increase. The beauty of the Wynn deal was the bonus for sign up, the low amount of points needed for two free buffets and the second bonus after getting a certain number of points on your card. I believe it was an expected loss of $19 for two buffets. The best part of this story for me was what followed a couple years later.
I made this post back in 2013
I took them up on an offer two years ago under similar circumstances. About 4 years ago I went to Wynn and played video roulette to earn 2 free buffets placing hedging bets for 10 minutes knowing I was going to lose around $20 for the 2 buffets. It appeared like I was betting $140 a spin but I really wasn't.
Two years later I received an offer for a parlor suite, $1000 in free play and $200 a day in F&B. Needless to say I thought it was a mistake but after reading about other's experience on this board I decided to book it. I was hesitant with the F&B and didn't max it out, but we got the Tower Suite free which was incredible and I ended up winning $2500 after making $1200 of gambling capital with the free play. I ended up playing way more than I normally would but no where near what would be expected for the comp value. We did receive a phone message in our room asking how our stay was which might have been either an honest question or a way to encourage us to gamble more. Upon checkout we had no problems with the F&B being taken off and it was a trip of a lifetime for someone whose bankroll never exceeds $1000 for 3-4 days.