Sunday, August 26, 2012

E-28: Slot Machine Differences

There are 3 types of progressive slot machines:
Stand Alone
Loacal Area
& Wide Area Progressives.

Stand Alone Progressives: are not linked to any other slot. The machine takes a small percentage of every coin played and adds that to the winning jackpot. The payback percentage is generally small, so you should find a machine with a high jackpot, in case you hit it.

Local Area Progressives: are a group of machines that are linked together and are owned and operated by the casino. They can be found in a connected slot bank, or linked over a group of casinos (if they are owned by the same company)
Because they have a smaller jackpot pool than the wide area machines, they generally will hit more often

Wide Area Progressives: are the machines with the life changing jackpots.These are owned by an independant operator and the casino shares in the machines takings. Wide areas are linked over several different properties and because of this, the administration costs are high.

Sunday, August 19, 2012

E-27: Tips for Gaining Comps

Casinos want return business. If you plan on wagering a certain amount of money in a day, you are much better off playing through your bank roll in one property. This will indicate to a property that you enjoyed your experience there and are more likely to recieve comps.

Tip 1: Always use your players card

Tip 2: When playing table games, place your tip on top of your wager. It will then be counted as part of your bet. (some properties do not allow this)

Tip 3: Increase your bet size when the pitboss is at your table

Tip 4: Put up a show bet when thee dealer is shuffling and take it down once the game resumes.

Tip 5: Try and sit out on some hands when the pit boss isnt paying attention,  therefor lowering your amount of bets per hour.

Sunday, August 12, 2012

E-26: How Comps are Rated

Table games are rated using the following 5 factors:
  1. What game is being played and what is the house edge
  2. How many bets are placed per hour
  3. How long do you play for
  4. Average bet size
  5. You theoretical loss per hour
Rating Roulette:
The casino simply average your total bet per spin against the average spins per hour (40-45) against the 5.26% house edge.

A casino will generally comp a player at 50% of their theoretical loss.
Eg: A $25 per spin player will play an average of 40 spins per hour = $1000 wagered.
With a house edge of 5.26% the theoretical loss will be $52.60, so you will be comped at a rate of $26 per hour.

Rating Blackjack:
A player will play an average of 80 hands per hour. Placing an average bet of $10, would equal $800 an hour wagered. With a house edge of 2%, which equates to a loss of $20 per hour and therefor $10 in comp credit.