Casino Line Of Credit Comps

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In the context of casinos, comps are complimentary items and services given out by casinos to encourage players to gamble.[1] The amount and quality of comps that a player is given usually depends on a combination of factors: what game(s) they play, how much they bet, and how long they play.

Most casinos have casino hosts who are responsible for giving out free items and contacting players to bring them back to the casino. Pit bosses can also award comps at table games. Most casinos now urge players to obtain a player's club or similar card, so that their play can be tracked and comps awarded.[1]

Levels[edit]

Casino Line Of Credit Comps For Free

The lowest level of comp available at most casinos is free alcohol and other beverages. Many casinos provide free drinks to anyone who is gambling.[1]

How Casino Comps Work

The second level of comp that many players earn is free self-parking, lounge access, or free meals. Many casinos have several players lounges and restaurants, and may require more play to earn a comp to higher-end restaurants. Often the player is given a certain amount to spend, but sometimes, particularly with high rollers, the player may be given the right to order as much food as they want and to bring guests.[citation needed]

The next level of comps is usually free hotel rooms, free valet parking, and free access to more exclusive VIP or 'high roller' lounges. Many casinos have attached hotels, but those that do not may have the ability to comp rooms to a hotel nearby.[citation needed] Many casino hotels have higher quality rooms, such as suites, villas, presidential suites, and so on for bigger bettors or VIP guests. Many players who receive hotel rooms receive a package called 'RFB' (for 'room, food, and beverage') or 'RF' (for 'room and food') for smaller bettors, or in jurisdictions where casinos are not allowed to give free alcohol.[citation needed]

Many casinos also offer other comps, especially to high rollers. These may include airfare reimbursement, limo rides, tickets to shows, golf, free concierge services, cash back, money to show up in the casino, loss rebates, private gaming areas, and private jet service.[2]

Casino Line Of Credit Comps For Sale

While no overt impact on comps, using a line at the tables-drawing a marker-does subtly influence the pit boss / floor supervisor into thinking that you are an avid gambler (having a line vs just showing up with a wad of cash), intend to spend some serious time at the tables, and they may be more apt to be genial in rating your play. At most casinos a player may use the same card issued to slot club members as identification to be rated for comps at table games. The pit boss overseeing the table takes note of the player's buy-in (the amount of currency exchanged for chips at the table), the average bet size, and the duration of play.

Casinos also frequently offer players comps by mail or email, or in casino apps. These may be free bet offers, free meals, discounted or free rooms, or entries into tournaments or prize drawings.[3]

Some casinos contract with bus companies to bring players in. Riders often enjoy free slot play, dining coupons, and other benefits, often worth as much as the bus fare itself.[4]

Calculation[edit]

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Technically, every player may be offered comps, but most casinos require players to have played for a given period of time and play at a certain level, i.e., the duration of play and amount wagered are directly proportional to the level of expected comps. What games are played are also factors.[5] Casinos award comps based on a player's Average Daily Theoretical loss, also known as ADT, theoretical loss, or 'theo' for short. The theoretical loss is the amount of money a player is expected to lose based on the long run statistical advantage the casino has on the particular game being played.[6][7]

Theoretical loss algorithms differ somewhat among casinos,[8][9] but in general, the logic behind the calculation is as follows:

Theoretical Loss = (Casino Advantage) × (Total Wager)[citation needed]

Hustling[edit]

Players known as 'comp counters', 'comp hustlers', or 'comp wizards'[10] attempt to maximize the amount of comps they receive while minimizing their expected gambling losses.[11][12] Comp hustlers play games with a low house advantage, such as blackjack or video poker, or games with small bet sizes, such as penny slots. Comp hustlers may use tactics such as placing large bets when a pit boss is checking their bet size to rate them for comps, and then moving to a smaller bet size when the boss is not watching. They may also take frequent breaks from playing, play at full tables to be dealt fewer hands per hour, and play more slowly.[11] Comp hustling is a type of advantage gambling if the player is able to hustle more in comps than their average cost of gambling.[13] And the author of 'How to Get a Dollar in Casino Comps for Every Dime You Lose Gambling', in their summary of key takeaways from Max Rubin's book, Comp City,[14] observes: 'The next step up from being a comp wizard is to become a comp counter. These players have specific knowledge and skills that enable them to combine a low house edge with comps in order to profit.' Another step up are practitioners of 'ACES (Advanced Comp Earning System). People practicing this kind of system earn a dollar's worth of comps for every dime they lose gambling.'[15]

Online[edit]

Online casinos, poker rooms, and sportsbooks offer a variety of bonuses that are similar to brick and mortar casino comps. Also similarly, comp hustlers and advantage players can use these bonuses to turn a profit via bonus hunting, or can convert these comps to a guaranteed profit using the technique of matched betting.

Many online casino operators are aware of the potential for losing money while giving out bonuses. As such, there is often a minimum wagering requirement for cashing out.

Some casinos will limit the payout in case of a win. Also, they may restrict players from playing certain games, often those games with a low house advantage. And, they may require players to bet the bonus amount multiple times before being able to cash out. For example, a casino may require a player to bet the bonus amount 50 times before being able to cash out. So, for a $100 bonus, a player would have to bet $5,000 before being able to cash out. Therefore, it is advantageous for players to check the wagering requirements of a bonus. [16]All bonuses have a turnover requirement. This means that placing a certain number of wagers, such as turnover 5x, means wagering 5 times the bonus. Most online casinos distinguish two types of bonuses: a no deposit bonus and a deposit bonus. First one does not require from a user to make a deposit at a casino in order to start playing. A deposit bonus requires from a user to make a deposit of certain amount of funds to start playing at the casino. Both of these type bonuses apply to terms and conditions of turnover requirements. [17]

References[edit]

  1. ^ abc'Keeping Customers Happy in Casinos'. ABCNews. November 1, 2007.
  2. ^'Cashback Casino Bonuses'. Best Online Casino Offers.
  3. ^Grochowski, John (17 June 2003). 'Comps - The Basics'. Casino City Times.
  4. ^Moro, Marianne (Leaf Group). 'Travel Tips: Atlantic City Casino Tours'. USA Today.
  5. ^'THE EXPERTS GUIDE TO COMPS'. www.smartgaming.com. Retrieved 2016-01-13.
  6. ^'CASINO COMPS & YOUR 'AVERAGE DAILY THEORETICAL''. N.E. Time Gambling. August 10, 2016.
  7. ^Coach Kitty. 'Gambling: Casino THEO: It's All About the Theo'. TravelZork.
  8. ^Scoblete, Frank. 'Getting the Most from Your Slot Play: Points, Bounceback, Mail Offers and Good Machines'. CasinoCenter.com. Retrieved October 30, 2018.
  9. ^Coach Kitty (April 19, 2017). 'Caesars Total Rewards Part 4: Generating Casino Offers (Marketing OFfers)'. TravelZork.
  10. ^Stevens, Michael (June 10, 2018). 'How Comps Work In Gambling (And How to Make Them Work for You)'. GamblingSites.org.
  11. ^ abRubin, Max (June 2001). Comp City. Huntington Press. ISBN978-0-929712-36-9.
  12. ^Scott, Jean (July 2005). The Frugal Gambler. Huntington Press. ISBN978-0-929712-40-6.
  13. ^'Comp Hustling'. Casinopedia. Retrieved October 27, 2018.
  14. ^Rubin, Max. Comp City.
  15. ^Rubin, Max. 'How to Get a Dollar in Casino Comps for Every Dime You Lose Gambling'. Gamblingsitesonline.org.
  16. ^'Casino bonuses'. Retrieved 2014-03-07.
  17. ^'No Deposit Bonus'. Retrieved 2019-05-24.
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Comps_(casino)&oldid=921225663'

by Jean Scott
Here are some tips for using mailed casino comp offers wisely:

1. - You are usually not required to play during the time of your stay; they won't look at your playing record on checkout and charge for the room if no play is shown. And if you have a long history of play on other visits to this casino, it might not hurt your record. However, not playing when you're staying on a free-room offer is usually the very best way to stop the offers from this casino 'littering' your mailbox.

2. - Your speed of response in calling and accepting room offers is crucial. Often all the rooms set aside for a particular offer are booked up quickly. However, if you call as soon as you get the offer and still find all the rooms gone, you can sometimes speak with 'insistence' to a supervisor and a promotional room may suddenly be found for you.

3. - In trying to establish yourself at a number of casinos in order to get mailings, try to play enough when you first get your slot card to get to the minimum redemption level for cashback. Some have suggested that this often seems to be the key to getting entry-level mailings. Many casinos base their mailings on frequency of play and/or long-term playing history, another good reason to concentrate your play at one or two core casinos.

4. - If you want to get a high-level offer from a top casino resort where you have never played, concentrate your heaviest possible play in your first play day. I have known some high rollers to get extremely lucrative mailings for a long time after just this one big-play day.

5. - Read carefully any mail offer for a free room -- some casinos will require a credit card to hold the room, but will not charge anything on it. Others do actually charge one night’s fee to your credit card, even with a free-night promo; then when you check in, the front-desk clerk is supposed to remove this charge from your card. Be sure to ask for a credit receipt at this time. If it is forgotten, there is often a hassle to straighten it out later by phone. I’ve seen a few free-room offers that have a no-cancellation feature. They charge your credit card for one night and, even if you cancel the reservation far in advance, they will not issue a credit. (That's how casinos occasionally report more than 100% occupancy rates!). We have found that in some casinos, if you're a very good customer – some of these we've been going to for many many years – they won't even ask for a credit card to hold a room reservation, but will ask you, as a courtesy, to cancel a day or two in advance if at all possible.

Is it possible to get into a casino database and possibly score a room comp before you have ever visited the particular casino? Here are some things that have worked for savvy visitors who play the comp game:
1. Join the slot club by phone or online.
2. Visit the casino web site and sign in as a guest.
3. Write for information before your visit. (As an added benefit, you will sometimes be sent coupons, funbooks, or small souvenirs.)
4. Apply for casino credit. At some casinos, applying for a line of credit will bring mail offers, often for a free room for two or three nights, even before you join the slot club. (A caveat: Be sure you can handle casino credit lines with discipline. It's all right to stay on these offers without tapping your approved credit line, but do not take markers at a casino where you have a credit line without showing any play. Casinos don't look favorably upon taking a cash advance to play at another casino or to make interest-free purchases.)Although applying for a line of credit may help get you some comps at a new casino initially, future comps will be based much more on the amount of your play.

What Is Casino Credit

Jean Scott is one of the country’s most renowned and successful gamblers and has appeared on many TV shows, including 48 Hours, where Dan Rather gave her the nickname of Queen of Comps. Her first book, The Frugal Gambler, has been a best-selle. She also wrote a sequel, More Frugal Gambling, and a tax guide for gamblers. She provides a complete resource package for video poker players, from beginners to the experienced. She also has two other books: Frugal Video Poker, and the must-have Frugal Video Poker Scouting Guide. Her Web site iswww.queenofcomps.com