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Best place to place sports bets for comps?

Discussion in 'Comps' started by AlPal, Dec 1, 2019.

  1. AlPal

    AlPal Vegas Addict

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    I typically place my sports bets at CET properties, but I was told Circa sports at The D and Golden Gate offers decent comp value on sports bets. Anyone have some information on this? I know in general sports bets won’t offer anywhere near the comps as slots, VP or table games, but something is better than nothing.
     
    Superbowl!
  2. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    CET and Wynn are the only Strip properties I am aware of that give comps for sports betting (albeit tiny amounts)
     
  3. JulianC

    JulianC Low-Roller

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    Stations, at $1 wager = 1 point (1000 pts = $1 of on-property spend).
     
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  4. alexm

    alexm Low-Roller

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    CET is not really tiny in terms of value. Sports betting is identical to video poker in terms of earn. This actually offers some creative ways to get to Diamond status and earn RC with reduced risk depending on how you play the game. That being said, I'm not sure if they value it into your ADT with a fixed hold percentage. Sports betting is the one thing where the house can not control a fixed hold. That and the fact that a lot of casinos don't run their own books are the main reasons properties are hesitant to give comps for betting.
     
  5. killswamper23

    killswamper23 Low-Roller

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    this is absolutely not true
    the houses edge in sportsbetting per dollar bet is way higher than someone playing correct strategy on job
     
    • Agree Agree x 3
  6. nostresshere

    nostresshere Mr. Anti Debit Card

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    Or said another way, $1,000 in betting action will get you $1 in comps.

    So - basically, no comps for sports book, unless you are betting LOTS.
     
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  7. palellama

    palellama Tourist

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    I'm not a huge sports bettor so correct me if I'm misunderstanding, but isn't the house edge on sports betting about the same as penny slots in that they take 10% off the top? I get that some people may be able to make informed wagers on this and that the casino is worried the outcome will go towards the lopsided bets, but as an average person just casually betting on sports, I should expect to lose at a similar rate to something like slots, right?
     
  8. nostresshere

    nostresshere Mr. Anti Debit Card

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    Not quite the same.

    I am at a loss in trying to discuss it. Slot machines are just different. Each machine does it's thing without humans, cages, seating, big screens, etc.

    Nah, that explanation does not make any sense.

    Anyways, the business model is quite complex...
     
  9. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    I may not know enough about slots, but I believe the HA on penny slots varies between six and fifteen percent (I have no idea what percentage is most common). On sports, the HA is usually around seven percent. Regardless of the HA, though, I would never say you should expect to lose money at a similar rate as you would lose on slots. A slot outcome is resolved every few seconds. A sports outcome, other than a very small percentage of props, takes hours to resolve. That's why most casinos view the sports book as an amenity. They make money, but the overhead to run it is much more than the other games in the casino and it takes much longer for the casino to win money on a sports book than just sticking a twenty into a machine
     
  10. NCAAHoops

    NCAAHoops High-Roller

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    Maybe look at it this way. You can get a 3 Team parley for 10 bucks and win 60. Yes you need to get 3 games correct but kinda like going right to a bonus round in slots. Also keep in mind slots dont offer $$$ lines which can be added to parleys or bet alone. . Mych more than slots offer
     
  11. STPFan

    STPFan High-Roller

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    I have been waiting anxiously for Ceasars to open its online sports betting in Pennsylvania. I use our local Rivers betting app, but would prefer to earn tier credits if possible.
     
    NYE - Here we come again.
  12. Malibugolfer

    Malibugolfer High-Roller

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    I realize this thread is about sports betting but do note that the books make much more on a horse wager than a straight team bet.
    I don't know the comp value of a race bet but they do give drink tickets more liberally.
    Which is about the extent of comps in books anyway.
     
  13. alexm

    alexm Low-Roller

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    I'm so confused by the response to my post. Video Poker earns 1 TC per 10 dollars Sports betting earns 1 tier credit per 10 dollars. I am pretty sure that is by definition identical. As to the hold that has the potential to be dramatically different.

    On sports betting there is no fixed hold percentage so the 10% hold is a major misconception even spread lines can vary from 5% to 15% -105 or -115 and it is not a guaranteed hold. A book that takes 1 million dollars in bets on a favorite spread at -110 and 850k on the underdog spread is still losing 50k if the favorite covers the spread. This isn't horse racing with a fixed percentage of the top of the payout pool, sports books can and do lose money on games regularly. Over the long run (just like VP) the book will get their money, a lot coming from square bettors.

    I would actually argue that @killswamper23 the opposite of your point is true. Assuming an expert VP player and an expert sports bettor, the expert sports bettor is far more likely to come out in the black than the VP player. The VP player on even a 99+ percent machine still needs comp dollars and rewards to make it a positive expectation. An expert sports bettor can capitalize on a bad line and make money without any rewards. Because lines are set by humans and computers and not fixed like in VP, mistakes and over corrections do occur. I capitalized on 3 last night alone. The books over corrected to an impressive Michigan performance in their holiday tournament by moving the line from Mich +9 to +5 against Louisville. Also, assuming that Michigan was better than expected set the O/U at 139.5. An expert sports bettor (like an expert VP player) can capitalize on this over correction and using their knowledge have a favorable edge against the book. My metric had Louisville by 10 and a total around 120. With value on both I was able to get money on Louisville -5 and the under along with a plus money parlay on the two and win. Also the books were for sure taking a loss on that particular game since more than 75 percent of the spread money was on Louisville. As an aside a terrible duke over correction on the money line also resulted in a pretty easy win last night too.

    The 2 big reasons that sports books do not typically comp well is that the casinos often don't own the book (William Hill, Cantor, Fan Duel, Draft Kings, Unibet) and because the margin in most sports book is actually fairly thin. An 8.5% is usually considered excellent and that's across all sports and all bettors, the vast majority of which are completely square. Also since you don't have to bet every game, the exposure to the percentages is not nearly as fixed as on Video Poker where every time you push the button the house has the advantage.
     
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  14. IxAccDnf

    IxAccDnf VIP Whale

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    As an example back in the day at IP in the racebook $1 = 1 point.
    2000 points = Comp night any night except NYE + 6 free buffets per day.
    Insert buffet jokes here.
     
  15. skinsfan

    skinsfan Tourist

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    Where are you getting tier credits for sports betting? I believe you only get rewards credits at CET.
     
  16. STPFan

    STPFan High-Roller

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    Sports
    Earn 1 Tier Credit for every $10 wagered through sports betting.

    https://www.caesars.com/myrewards/earn-and-redeem
     
    NYE - Here we come again.
  17. killswamper23

    killswamper23 Low-Roller

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    the bolded- that doesn't make them identical because the real costs of betting those 10 dollars is much different. i mean if blackjack and roulette both earned the same tc per dollar wager you're obviously way better off with blackjack unless you play like a complete imbecile even though it's still 10/1.

    i agree an expert sports better comes out better than the expert video poker player.however maybe 1% of sports betters can beat the juice long term. anyone can memorize or even print out the proper strategy for jacks or better 9/6 or other video poker games.It's exponentially easier to be an expert video poker player than a winning sports better.the work on being a high level video poker player has literally already been done and is easily accessible (for most forms of vp you're still going to lose small barring promotions as you pointed out) on the internet. While sports betting is beatable, you can't play at a negative.5% to even having a slighty positive expectation with a few hours of work and some memorization the way you can with video poker on good games.A monkey can play 9/6 job video poker and lose at a .54% rate for every dollar wagered long term.

    the misconception of the 10 percent hold on -110 lines is obviously completely wrong - it's closer to 4.5 percent.If two people each bet 110 dollars on opposite side of the same -110 line the book is going to make 10 dollars on 220 dollars wagered. People mistakenly say 10 percent because that's (almost) what they lose to the juice on a winning bet (when in reality you're paying juice win or lose) And yes the hold will be different as the line spreads vary- and the hold tends to get higher.

    If you can still beat sports betting my hats off to you. I used to be able to beat baseball but the lines have gotten way tougher in the last few years.
    I have in the last few months exploited various promotions from the new jersey internet sites with zero risk to me for a decent profit but I know I can't beat the sportsbook anymore straight up.By the way I'm not saying just because I would lose these days betting sports is why I think 99 percent of people lose betting sports- it's just the reality of the situation.I'd much rather be a winning sports player than an expert vp player.
     
  18. killswamper23

    killswamper23 Low-Roller

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    as I just mentioned- having exploited a lot of the jersey and a couple of the PA promotions you're best served having accounts at each book and just betting the best line for the game you want. It's not worth a worse line to earn tier credits.DK fanduel and Parx also all have apps in PA.Bet the best lines. Fanduel also consitently has promotions that are extremely postive ev off the top for nba and nfl games up to 50 bucks a game as well as some other excellent promos.In NJ pointsbet has amazing promos that are great until they ban you from them.
     
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