‘DILUTION OF AVERAGE BET’ SHARING PLAYER’S CARD WITH SPOUSE
Before I get to what I was up to on Saturday, I want to discuss a very important issue brought up by reader Monte. I think the issues presented in the comment can be rather problematic. I’ve heard these points brought up, so let’s address it now…
Reader Monte made this comment:
Monte, nowadays, almost every casino uses ADT to compute their earned comps. I don’t know of a casino that doesn’t use ADT as the basis of their comps evaluation.
I wouldn’t worry about dilution. If you are after earned comps, it’s better to get all your comps, even if you receive a very minimal amount of play. For example, let’s say you normally are a $100 bet per hand type of player. Let’s just say you play blackjack, and this play earns you $10 per hour in earned comps.
Let’s do some rough math.
At $100 per hand, under standard and current blackjack rules, you are expected lose 50 cents per hand, on average.
Let’s also say that the casino will rate you at 100 hands an hour. This means you will lose a theoretical $50 an hour.
Assume that the casino’s comp rate is 30% of the expect loss. That means you will earn roughly $16 per hour.
Let’s now play some small ball…
Because you get bored, every once in a while you play for an hour at $10 per hand rather than your’ $100 standard bet. Your smaller bet earns you $1.60 per hour. If you do this ten times for ten hours, you give up $16.00 in comps from those little bets.
Any reduction in comps you receive because of ‘dilution’ would not make up for the $1.60 per hour that you give up by not using your player’s card.
What Monte might be referring is the difference between the discretionary comps and the earned comps. When it comes to discretionary comps, hosts prefer players who have higher bet averages; and it’s true that a smaller bet will lower the player’s bet average. That’s a fact.
However, for purposes of discretionary comps, the host cares more about your potential that they can win from the player on a theoretical basis as a projection going forward. In this aspect, it’s still important to rack up as much theoretical loss as possible. In the end, he’s still using the ADT formula to project your value to the casino. That’s why it’s better to get all the daily average that you can get, even if some of those bets are smaller than normal.
I don’t just preach it, rather, I live this bit of advice. As a player who plays both high limit and low limit, I take all the comps and I don’t worry about the dilution.
Even mega whales will sometimes bet $10 hands. I’ve played with them. The casino will never say, ‘oh we’re going to give you less in discretionary comps because we see here that you bet $10 these times.’
Take all the comps, my friend. Take ’em for all you can, my friend.
C0-Using the Player’s Card
The player can run into some serious issues. For example, let’s say you hit a large jackpot using your wife’s card, and you’re at a casino that wants to be a stickler about the rules. They can refuse the jackpot. Would they pay the jackpot? Maybe or maybe not. Actually, they probably would pay the jackpot if you said it was your wife’s card, and accidentally used the wrong card. But is that a risk you want to take?
I was playing Pai Gow Poker at the Santa Ana Star casino where they have a bonus bet that would generate a W-2G tax form. There was a lady who handed the floor what she thought was her player’s card, but it had a guy’s name on it. The floor said, ‘you go by Mike?’
The lady said she accidentally pulled her husband’s card.
The floor said she should use her own card because they would void the payout in the event the she won the big bonus.
There are a myriad other reasons to never combine play on one card. For example, if the spouse named on the card passes away, the points may not be transferable.
This is a strategy that I strongly advise against.
On a side note, the floor handled the issue very skillfully. In today’s world, some women do, in fact, go by ‘Mike’. I appreciated that level of thoughtful customer interaction.
ROADGAMBLER SATURDAY NIGHT HIT AND RUN
On Saturday, I arrived in Vegas around 5 p.m. Vegas time and expected to leave the next day in the late afternoon. I’m a firearms collector and I flew into Vegas to buy a rare gun.
I inspected the gun, test-fired it, shook hands and agreed to the very fair price of $70,000. It’s a transferable and civilian ownable M-60. It’ll take about a year before ATF approves the gun. That’s when I can take it home.
If you’re thinking that $70,000 is a bit steep for an old gun, well, the last gavel price for a Maremont M60 was $69,000 before the auctioneer’s premium and without the E6 upgrade, which is worth an additional $9,000.
After closing the deal with the seller, I received a call from my assistant Jacqueline saying that I was needed in Florida at 8 a.m. She had already purchased my plane ticket and said I was due at the airport for a 1 a.m. flight.
So, with my little 24-hour vacation cut short, I decided to head straight for the Cromwell. Before leaving for Vegas, I had wired the money I won from Isle of Capri to Cromwell.
For those of you who don’t know, the Cromwell is the only casino in Las Vegas that has 100x odds.
I arrived at the Cromwell, presented my ID to make sure the casino had received my wire and that the money was good to go. While the cashier was verifying, I stepped over to the blackjack table, which is located literally 2 steps from the VIP cashier. I bought in for $500 and played two hands for $100 each, winning both hands. The cashier said the money was ready.
I went to the craps table and bought in for $50,000. I thought to myself, ‘I’m going to play until 10, maybe 11 [p.m.], and then head to the airport. Or, if I win $50,000, I’ll call it a stop.
Very first roll 7 winner. I was up $15. Then I thought to myself, ‘it’s 8 [p.m.], I don’t have a lot of time, let’s just break this into ten units and see what happens’.
So I bet $50, roll was 4. The point is 4. I bet odds of $5000.
I then made a come bet of $50 and the 10 rolled. I bet odds of $5000.
Now I’m thinking to myself, I have six ways to win $10,000, six ways to lose $10,000. I was ignoring the flat bet.
Next roll is 10, right back!
I’m up $10,000, ignoring the flat.
Next roll 4 winner. I’m now up $20,000.
I then have this very quick and fierce debate in my head, ‘five rolls, $20,000, let’s go, let’s go. No, still two hours left. Stay, what are you going to do for two hours?’
I say to the floor, ‘I’m done, I’d like to buy back my marker’.
Yea, I chickened out and totally disregarded my win-loss and time goal…threw it completely out the window…but I think I made the right decision. While the floor went to retrieve my marker check, I walked over to the other table so that I wouldn’t see the results after my cash out. I didn’t want to be tempted by what would happen next.
Five rolls and I’m up and gone. This is in my hand after I buy back my marker. Five rolls…
Won back to back $50+$5000 odds on point of 4 and 10. Up $20,000 after 5 rolls. When I hit the 4 and 10 back to back, I decided to protect the win and just scram. Cashed out and got my prize. Check for the rest.
After cashing out, I went outside and took in the beautiful and smog-free Las Vegas air and took this pic.
Pop quiz…where is this pic taken from? Of course, it’s at Cromwell, but where at the Cromwell?
Afterward, I was still stuck with the issue of what to do for the next two or three hours.
My solution was to head over to the In-N-Out located in the Linq food court. It was about a five minute walk – ten in Saturday foot traffic – from the Cromwell.
Interesting bit of info: I was talking about how I wish there was a Shake Shack nearby and then someone said there’s one in the Premium Outlets. I’m gonna have to look for that next time I’m in LV. After eating In-N-Out on every Las Vegas trip for the last two years, I’m ready for another go-to burger. Shake Shack, it shall be.
After eating at In-N-Out, I still had plenty of time on my hands. It’s that weird middle zone where it’s not enough time to do anything really fun but just enough time that if I don’t do anything, I’ll be bored. So I decided to walk back and play a tracking game at Bally’s. The O’Shea’s tracking game was a bit unfulfilling so I decided, ‘let’s give this one another shot’.
My producer is working on the video right now.