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Chasing Comps

Discussion in 'Comps' started by blackjacknut, Sep 21, 2012.

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  1. blackjacknut

    blackjacknut VIP Whale

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    Do you chase comps, hoping that you will get something for "free" on your next trip to Vegas? Do you ever play at a higher level than your wallet can support? As a buddy of mine were talking the other day these questions came to my mind...as we have a mutual friend who does both.

    My advise to newbies and oldies when traveling to Vegas don't chase comps. I also tell people don't play at a higher level than your wallet can support. This all goes back to proper bankroll management. I have seen countless times new players in Vegas throw down a wad of cash and play at a $25 or $50 hand BJ table and loose there money very quickly then they walk away like they just spent their paycheck.

    The last time I was sitting at the HL room at Monte Carlo this young couple came in and threw down $1000 in cash and played at $100 a hand. Lost the bankroll in like 20 mins, as they obviously have never played BJ before and were making terrible calls for cards. I tried to help them but got the "I know what I'm doing". I heard the women say to the guy after they lost their bankroll and walked away "how much money do we have left for the next 2 days", the guys says "not much".

    I also want to add that a $3K 3 day bankroll at Bellagio won't get you much...but this same bankroll at Luxor or Excalibur will get you more. Heck this bankroll at IP will get you most anything you want..... ;) People with lower end bankrolls who stay at higher end places and expect to receive the world are just not being realistic. You have to be realistic and stay at a property where your bankroll size will get you more bang for your buck.
     
    Last edited: Sep 21, 2012
  2. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    I wouldn't say I have ever chased comps. But I know I have played on tilt on occassion and played more than I should have. It happened to me last weekend at Venetian. I was planning to play small all weekend ($25 line at craps and $100 at bac). But then I lost a quick $1500 at bac and started chasing. Next thing I knew, I ended the first night down about $5k. Hardly the end of the world (I should be playing on casino money for at least another year based on the runs I have had dating back to last summer), but definitely no fun.

    Stupidly, I got up early Saturday morning before my buddy so I could chase my losses. My reasoning: I'll win back that $5k quick and be back to even before breakfast. Terrible mistake! Started betting one and two k per hand and forty minutes later, I am down a TON.

    Fortunately, I had the bankroll to get most of it back before the end of the trip (it went from a bad trip, to a disasterous trip, to just a bad trip again), but considering I had not experienced a losing trip in 15 months, I really chided myself for letting it get out of hand while I chased a (relatively) small loss.

    And of course, although comps were the last thing on my mind during that weekend (my buddy really loves Venetian; I had not played there in at least three years), they had a host descend on me the second I stood up from the table for dinner saturday night, promising me the world if I would play there in the future (I was still down about $12k at that point and had probably put in 7 or 8 hours of play). So I'm not sure if chasing the loss is any better than chasing the comp, but I probably ended up with the same result
     
  3. DonD

    DonD Super Moderator

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    Chasing comps or loses are the same to me, bad! Sometimes we've got to learn to take our beatings like a man. I've taken many beatings in my day.
     
  4. Nevyn

    Nevyn VIP Whale

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    I don't chase comps. I've been pleasantly surprised with the offers I've gotten for the amount I play, but I still only play as much as I want and where I want.

    The comps I get are mainly rooted in local play on occasion at Caesars Windsor.

    I also never play above my wallet. I'm sure I could actually swing a higher gambling bankroll if I wanted, but that would take me out of my comfort level.

    The closest I do to chasing comps is being strategic over where I play what (for example, I like occasionally low rolling at a cheap table to just have fun and some free drinks, but I don't do that at the properties I want comps from).

    And I like experimenting here and there with how little I can give CET and still end up getting free rooms on future trips.
     
  5. Nevyn

    Nevyn VIP Whale

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    I should add that to me, chasing tier levels is generally even worse than chasing comps.

    Now and then I'll go check out the benefits charts at CET or mLife and I always come away thinking "that's it?".
     
  6. mike_m235

    mike_m235 Tourist

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    I've done it, 100%. I played properties other than the place I stay in order to generate future offers from those properties. And it's worked. I specifically did it so that I could double book at another property when I have friends in town.

    I don't think there's anything wrong with chasing something if you know what you are after, and you know what you're getting, and it's worth it to you.

    I agree that chasing tier levels isn't worth it -- unless there's something in the next tier that you want, and then maybe it is. For me, there's nothing. I have a gold card which gets me VIP check-in, but my host would give me that anyway.
     
  7. shifter

    shifter Degenerate Gambler

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    playing just to get comps of course is dumb. since you only get back 40% of what you're going to theoretically lose, it's always a losing proposition. but keeping comps in mind when you play makes a lot of sense to maximize what you get. you might as well get everything you can out of what you're going to do anyway.

    i always get an idea of what kind of comps i'm going to need each trip and keep that in mind when i'm playing to try to make sure i get enough hours in and get the avg bet i need to cover the comps. when i talk to the pit boss after i play about my rating i always have that number in mind to try to make sure i'm getting what i need. but that's just a plan at the beginning. if i win 50k the first night, i'm going to slow way down and lock in the win and couldn't care less about low playing that trip. if i have to cover 5k in F&B charges because my theo isn't there, i can handle that with a huge win.

    as far as playing over your head, that's a bad proposition even if you have the bankroll to support it. if you play above where you're comfortable, you're most likely going to lose any amount of money that you have. emotions get involved when the amounts of money are above your comfort level and you start to make bad decisions and will lose more than you should. if you want to increase your comfort level, you have to do it slowly and over time. you can't just jump from $100/hand to $1000/hand just because you suddenly come into some money and theoretically have the bankroll to support the higher bets. you have to work to expand your comfort zone in order to maximize your chances of winning.
     
  8. JosieCat

    JosieCat VIP Whale

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    I don't chase comps by spending too much, but I do things differently because of them. I don't play as much VP as I normally like to, and I try to avoid specialty machines completely - worrying about those tier credits adding up :)

    I also behave differently when using a comp offer, and try to mostly play at the casino where I am getting the comp.

    We had a last minute stay at Excalibur at the start of our last trip - not using a comp, and it was nice to not have the pressure of having to "pay" for the rooms. Well, and actually they did comp them on the back end.
     
  9. BeeeJay

    BeeeJay President of The Red Lobster Hostess Satisfaction

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    I may have been found guilty of all of the above by a jury of my peers and been bestowed the title "Dirty Chaser".

    Completely undeserved in my opinion.

    :wink2:

    I mean, hey, I can't help it. My credit card says "Chase" right on it!
     
  10. Frankr163

    Frankr163 Low-Roller

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    Is that card, the new "hookers & blow" signature visa?
     
  11. CaptainJack

    CaptainJack Low-Roller

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    Chasing losses and chasing comps are totally different. I freely admit that I chase comps...but I also know exactly what I can expect to get and how much I can expect that to cost me. At CET, I wouldn't even bother playing if I couldn't reach Seven Stars...the benefits are well worth my small expected loss (which includes expected return on game + cashback + promo + bounceback). At MGM, I keep a strong ADT but stay at Platinum because Noir isn't worth the cost/benefit. At Wynn, it's old school. ADT matters. Hosts matter. At various other casinos, I know exactly what to play, when to play, and how much to play to get the most efficient return.

    I play where I stay and I totally avoid some properties on some trips so that it doesn't hurt my ADT. As a result, I profit each year from casino promotions and comps. They pay me more than I pay them, and the difference isn't even close. Knowledge and discipline is absolutely key.
     
  12. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    I also think there is a huge difference between chasing comps and being strategic. I hot Noir on my last trip to Vegas and I expect it will make zero difference in my vegas experiences. I certainly wasn't playing for it, and frankly was surprised to learn I hit that level, but at the same time I was consciously electing to play only at MGM properties (and only two properties at that). I did that because I knew I was going to play large on that trip and was hoping it would lead to good host offers for my next few trips (which it has). So I view it as I made a good decision to concentrate my large play, but at the same time, I never played a hand or placed a specific size wager with my comps in mind
     
  13. Ezzy711

    Ezzy711 Low-Roller

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    I don't chase comps or losses, but I'm not stupid. I watch my F&B above my comp and check at the end of every day to see if I will end up having to pay at checkout. I always pay restaurant tips in cash as they cannot be taken off the comp. If my EC is $230 and I see the charges to my room as $250 I may play less "specialty" slots or double up when I see the pit boss taking notes at the BJ table just to try to get the ECs to break even at checkout.

    Cannot say I never bet more than my daily bankroll but always adjusted the next day. Luck is fickle but never count on it to change.
     
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