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Originally posted by: MoneyLA
Well, I couldnt wait, so I called the blackjack pit at Terribles and I got their rules for the rebate. youre not going to like this, because it blows all of your math out of the water. As I suspected their rules protect the casino. Here they are.
Rule number one. The maximum bet that earns a rebate is $500.
Rule number two: You must lose a minimum of $1,000 (at least two bets at the $500 level) to get a 10% rebate.
Rule number three: If you bet $500 or less and lose you only get a 5% rebate.
Now the "killer" rule: While the rebate is good once in a 24-hour period, you had better be away from the table for more than 24 hours before you make another bet. This is because if they find ANY WIN during the previous 24 hours, they will use that win to reduce your rebate on subsequent losses. In effect what they are doing is forcing you to spread out your bets over longer than a 24 hour period. And don't forget that two bet minimum totaling at least $1,000 to get the 10% rebate.
Now, let's see your math??
Let me correct your semantics, as I believe you misspoke.
The maximum bet on a game is $500.00, except blackjack where you can play two hands.
And I previously have mentioned that the rebate offer is for losses greater than $1,000, and than a loss of $500.00 - $999.00 is qualified to receive a 5% rebate.
And, if you play BJ @ $500 for your first hand when you first start to play, catch and split 8's, than catch a 2 and double after split on the first hand, and a similar double after split on the original split hand, and lose, you ARE qualified for a loss rebate on your total loss, in the example I just described, a total loss of $2,000.00 translates to a $200.00 rebate.
I have repeatedly indicated in this thread that the offer to received the rebate is once per 24 hours, and indicated that I would be playing at max level, fewest bets possible to qualify, either winning or losing $1,000 (or more) and quitting for 24 hours plus a few minutes. I outlined the qualifiers carefully, since I also telephoned a few days ago, and outlined my conversation with pit critter Tommy.
I think I was very clear with the information and outline I provided in this thread.
So, since my premise during this entire thread was clearly based on a result that was a "minimum" of $1,000 won or lost, to earn the maximum rebate if qualified, how does your message blow the math out of the water?
I admit it does affect the math some in the hypothetical results being discussed for simplicity, but not by enough to affect the potential profitability of the offer since the end result per day will always be + or - $1,000 or more, and than wait 24 hours for the next session.
And THAT is also the reason why I limited my musings to 100 "sessions", or 24 hour periods during this thread.
I have repeatedly mentioned that if I did this, it would be to exploit the offer, and done for profit from an "advantage players" approach. To maximize the rebate yet have a stop loss of $1,000 (and willing to lose more with doubles, splits, DAS, etc) or to win $1,000 or more. But to make, and play the fewest number of trials or decisions as possible for the maximum allowable.
You spoke, offered a challenge, and were responded too. You than changed the rules of your challenge. You were responded to and once again proven incorrect. Your challenge was not the Terrible's rebate offer, and I responded to what you offered, the way you offered it.
And yes, a single bet could qualify for a rebate. And when I spoke to a pit critter, I was told that a person did not need to qualify with hours of play, and that a person could make one wager, lose with a double on BJ and original bet of $500, therefor losing $1,000 and collect the rebate.
And the loss rebate would applies to total net losses. So if you take, or laid odds, those losses also apply.
Really?
YES, really.
Of course, a different pit critter may give different information. But when I telephoned, it boiled down to any NET loss of $1,000 per 24 hours would receive the rebate if asked for.
