Theo or Average Bet for Comps?

What is weighed more when a host decides what comps to offer?

From all the reading here on the board, what I picked up was that theo is used to calculate how much comps you were given.

But everytime I go speak to my host to review my play, they just read off my average bets. I thought average bet was used to determine TC?

I apologize in advance if i've got everything mixed up.

 

Most players have never heard of theo, and most hosts are in no rush to explain it. If you make it clear that you understand what it is most will tell you.

 

This is exactly correct. Since most players have no idea what theo is, they just tell you your average bet and number of hours played if you ask. But make no mistake, your comps are based on theo and, in rare cases, actual loss if it is significant

 

Yea, talking about hours or avg bet makes sense. Talking about THEO opens up a can worms.


Theo comes from avg bet, how many, and the house advantage on each game. House advantage is not going to be exactly what Wizard of Odds might use, but a number each casino wants to use.

 

No, theo is used to determine TCs as well.

 

Combination of average bet, hours of the bet and the theoretical loss to you or gain to casino.

In the end, the casino is trying to figure out how much money you are putting at risk and expected loss, and then give you a percent of that back.

And, since they are not REQUIRED to give you any of that money, they keep most of the process close to the vest. After all, they can move the percent they give back up and down at will.