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Is it me, or is it COMPS?

Discussion in 'Comps' started by WHIVGOYTUBE, Jan 19, 2014.

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  1. WHIVGOYTUBE

    WHIVGOYTUBE MIA

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    Please someone explain what is going on here....

    I'm only going to talk about CET properties...

    Table Game Comps and Cash Cow Comps (Slots and VP).

    ------------------------------------------------------------------

    We are kind of.. an oldie in Vegas terms, first visit 2000.

    OK, OK, we are still a newbie.. :evillaugh

    Anyway.....

    CET Slots pays per 1K coin through = $2 Comps.
    CET VP pays per 1K coin through = $1 Comps.

    These comps are for either .... Comps, "OR" free play.

    We understand if you take the comp as FREEPLAY, that value is cut in half for GOLD or PLATINUM level.
    So the talk here is in COMPS, not free play.

    Now for the Nitty Gritty of the post....

    ----------------------------------------------------------------------

    There is a formula of how comps are given on table play, and people get food passes.

    How ever true it is, or what that formula is used today, I'm using...

    Bet Per Hand * Bets per Hour * House Advantage = X

    X * 40% of expected loss = comps.

    --------------------------------------------------------------------

    So lets say that is outdated and the comps are now only 20% of expected loss.

    Whatever is played, assume 1K is played in one hour.

    And plug in Rolette as the game being played at 5% house advantage...

    So using the formula for comps... (1K * 5%) * 20% = comps of $10 per hour.

    ------------------------------------------------------------------------

    Now lets switch gears to the Cash Cow Comps.

    VP for starters, and then we do slots for more fun :evillaugh

    ----------------------------------------------------------------------

    VP comps are 0.1% or 1K of coin through = $1 comps.

    Slots are 0.2% or 1K of coin through = $2 Comps.

    ------------------------------------------------------------------

    And these are the cash cows of the casino. :nworthy:

    _________________________________________________________

    VP @ 25c = 97%

    So if we use the Table Game Comp Formula (@ 20%) , that equals per 1K ... $6.

    Like the Allstate commercial, we only get a Dollar on a fishing pole verses $6.



    NEXT is the Cash Cow. :nworthy:

    Penny Slots....

    For fun and giggles, lets say it is 85%.

    So if we use the Table Game Comp formula (@20%per 1K) that equals $30.

    So help me out here????

    Play their Cash Cow penny slots (15%) and get $2 comps per 1k.....

    Or play Roulette (5%) and get $6 comps per 1K....

    -------------------------------------------------------------------

    WTF???? Joe Customer :poke: Verses CET

    But then again, I'm only talking about comps the PIT may give you for food.

    Not the offers that come later... :thumbsup:
     
  2. nostresshere

    nostresshere Mr. Anti Debit Card

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    I am guessing there is a question or comment somewhere in that train of thought. Sadly, for me, the train has jumped the tracks.

    Sorry.
     
  3. paperposter

    paperposter VIP Whale

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    i gave up up i was hoping somebody else had there decoder ring out:thumbsup:
     
  4. dunebug81

    dunebug81 VIP Whale

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    The answer is yes.
     
  5. jdvegas

    jdvegas VIP Whale

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    no, it's 47.3
     
  6. numeno

    numeno VIP Whale

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    Ok I think I know what you are talking about and you are comparing 2 very different things.

    The $2 per $1k for slots and $1 per $1k for VP is not the same concept as the 40% of expected loss in tables games.


    On Slots and VP while you are playing you earn tier credits. Slots it is 1 per $5 and VP it is 1 per $10(there are exceptions). For each of these points, you also get 1 Reward Credit which is ONE form of comps at CET. Each of these is worth a penny when you spend it at a CET restaurant/room/ect... This is where that $2 per $1000 coin in comes from.

    The same actually happens with table play, there are just no public formulas. If you play Blackjack and at the end you gained 100 tier credits, you get the same 100 reward credits as well which is worth $1 at shops.




    All of that is completely different than the 40% number you mentioned. The 40% is where room comps come from. If you play enough you might also get free show tickets, extra free food, ect...



    So for every $100 the casino thinks you gave them via gambling you get

    $30-$40 for hotel room/food/show tickets
    $1-2 in reward credits to use on your own at shops/restaurants
     
  7. WHIVGOYTUBE

    WHIVGOYTUBE MIA

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    OK

    Per 1K on tables (Roulette) $6 comps.

    Per 1K on VP = $1 Comps

    Per 1K on slots = $2 Comps

    -------------------------------------------------

    Per 1K on 5% roulette = $6 Comps

    Per 1K on VP 3% = $1 Comps

    Per 1K on penny slots = $2 Comps

    ----------------------------------

    Why is the Cash Cow of Slots give the lowest return on Comp? :nono:
     
  8. Auggie

    Auggie Dovahkiin

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    Your "$2 Comps" for slots should actually $7-8, they have some of the highest returns.

    What you aren't taking in to account is "Bonus Rewards Credits" which you can earn through extended slot play: if you play for a few hours on end, which most slot players do, you will earn bonus reward credits equal to about 250% of your tier credits earned (its a complex formula, the 250% is about what you should expect for 4-6 hours of playing slots).

    So if you ran through $1000 on penny slots you would expect 200 TCs, which would be 200 RCs, which has a $2.00 value... however you would also earn roughly 500 additional RCs in the form of Bonus Reward Credits, which would give you a final total of 700 RCs, which has a value of $7.00

    If you play for a really long time (talking 8-12 hours a day) you would be earning even more bonus reward credits, as much as 350-450% more.
     
  9. WHIVGOYTUBE

    WHIVGOYTUBE MIA

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    And there it is. :thumbsup:

    I just knew some one here had the knowledge to spell it out right. :nworthy:

    Love this Forum! :clap:
     
  10. Kickin

    Kickin Flea

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    Its not just the bonus reward credits but you're completely confusing different things - RCs and total comps. The RCs you earn are not your only comps, in your example the guy who played 1k through slots would only have $2 in RCs but if their theo was $150 (15% HA from your example) and they offer 20% in comps his total comps would still be $30. The roulette player who ran 1k through would have a theo of around $50 and comps of around $10. For each player a portion of those comps comes in the forms of RCs but the rest is something a host or TR person has to release.
     
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