Even the novice advantage player is familiar with the concept of EV. For the player unfamiliar with the jargon; EV stands for expected value. It is the set of equations that gives a player a way to determine what amount of money they expect to win by engaging in a particular advantage play. And more importantly it provides a way to determine if the results that are yielded, good or bad, are a result of luck or skill. Players have a tendency to limit their wins to the monetary gain they garnish while playing. The purpose of this discussion is to make players aware of additional gains they can include in their calculations to more accurately represent their overall win.
Perhaps the greatest value that a player can overlook is that of comps. Comps are incentives that casinos give out to lure gamblers into choosing their casino over all others. A player can expect comps to be a little looser in towns that have multiple properties in a relatively close proximity – Las Vegas and Atlantic City immediately come to mind.
Any player playing table games at a decent level of play (around $50 a hand) can expect a pretty steady stream of offers for free rooms from any major property. This is true if and only if the player has an out of town address. An in-town (local) player will be offered free food and other “prizes” to play at a locals casino. There is a cleaver trick that an in-town player can use to get the out-of-town customer comps, mainly the free rooms.
There are several services available, found on the Internet, where someone who travels extensively – e.g., a retired person or traveling salesman – can have their mail sent and subsequently scanned into PDF format so it can be viewed online. This provides an out-of-state address and gives the player the ability to attain all the comps that go with that status. To take it one step further, a player after receiving these offers can book the rooms immediately, then list and sell the rooms on craigslist for a cash profit. Or a person can easily utilize social media accounts to market their newly acquired asset. For example a three-night stay at a Strip hotel over a fight weekend or other special event, would easily cost $350 dollars per night or more. If a player sells that same room for $250, it’s a quick $250 profit. You are probably saying “Nick, you can’t do that, you have to put a credit card on file for room charges.” This is 100% true. However, there’s no rule or law that the credit card has to be your credit card. So, after you sell the room online you can meet the person in the lobby, check into the room, put them on the room register, and use their credit card. The buyer gets a discounted room rate and you make a quick $250 dollars for maybe 30 minutes worth of work. That’s a $500 dollar-per-hour win rate, a revenue stream that would even make James Grosjean blush.
For players who live in, or near a town with only one or two casinos, the comps are not quite as lucrative, but there’s still opportunity to siphon additional EV at the casinos’ expense. Even the most dumpy low-grade shacks often have a 4- to 5-star restaurant in it. This is usually a steakhouse of some local acclaim. A mid- to upper-level semi-regular player can usually get a complementary dinner for two at least once a month. This meal could easily cost $150 with alcohol. For the bachelor player, this can offset some of your ongoing dating expenses. And the high cost of a quality meal can increase your equity among the opposite sex, or same sex if that’s your bag. For the married player this easily gives a married couple a well deserved night out.
Additionally, there are certain promotions that are available for new players club members. Perks can range from a free T-shirt, to a triple-point play for the duration of a weekend, all the way out to entries into a raffle for a free trip, or even a car. The lesson is that players have to expand their definition of expected value so they can fully evaluate their overall financial gains. Here we’ve explored a few out-of-the-box approaches a player can take to enhance win rates. There are always ways to squeeze additional value from a casino for the player who is willing to look for it.
Never miss another post
“book the rooms immediately, then list and sell the rooms on craigslist for a cash profit”
And what happens when your craigslist ‘friend’ decides to use a pre-paid CC and then thrash the room, have a drug party, get a hooker, etc? Guess who the casino is coming after for those unpaid charges and damages…
There are also a bunch of states with ‘defrauding an innkeeper’ laws, they could be interpreted to include procuring a hotel room under false pretenses. A casino probably wouldn’t notice if nothing went wrong, but this is a casino we are talking about, things go wrong in casinos all the time…
Excellent point. I suppose you could set up some type of formal contract between the purchaser and seller. Like so many things in advantage play, it is a cost benefit analysis. But in my opinion why would someone want to ruin a good thing?
‘some men just want to watch the world burn’
the sort of people who would look for hotel rooms on craigslist aren’t exactly ‘contract types’… I would do this sort of deal with good friends or relatives, knowing that I would still be liable for the damages and charges and having set aside money for any incident… This way, someone I know benefits from the play, and I still get something out of it while minimizing the risk of major damages.
Most people know my nickname is “Queen of Comps.” But if you would talk to any of our hosts from over the years, they would say we underuse comps we have earned – they “beg” us to have gourmet meals! I have always written about maximizing your comps but cautioned against abusing the system. I have a strong objection to some of the ideas in this article. The selling of comps is against most casino official or unofficial “rules” – and is a good way to get 86’d. I think this article is treading on gray – maybe even black areas!
“You are probably saying ‘Nick, you can’t do that, you have to put a credit card on file for room charges.’ This is 100% true.”
That is 100% false.
Caesars Properties don’t require a credit to be put on file but its been my experience MGM properties do… but if they don’t great it makes it that much easier to secure profits.