The web fruit machines are always a favorite with net gamers, and they are also a great starting point if you want to get a feel of how the gambling. Earning Comps At Gambling Sites. The online gambling sites with the best comps offer lucrative VIP loyalty programs that reward players who wager real. Top 40 online casinos, free internet gambling games. Gamble redirects here. For other uses, see Gamble (disambiguation). Caravaggio, The Cardsharps, c. 1594 Ga.
Comps and the Average Daily Theoretical
I’m sure you’ve heard someone say, ‘wow you won so much, they’ll give you anything you want’.
No, that’s not true. That’s one of the biggest misconceptions about casino comp policy.
In reality, the casinos do not really care how much you win or lose. Sort of. I’ll explain why the ‘sort of’ in a bit, but generally when it comes to comps, the casino cares more about your Average Daily Theoretical (ADT).
WHAT IS ADT?
Simply stated, your ADT is a formula the casino uses to determine how much you will lost in the future if you continue to play using your gambling history. Your ADT is your theoretical value to the casino. Casinos care about theoretical value – rather than actual value – because they’re dealing with hundreds of thousands or millions of patrons. For the casino, the theoretical value of its’ player base, with almost statistical certainty, materializes as the actual value because of the large sample size of hands, dice rolls, and slot spins.
Certain Games Have a Higher ADT Potential Than Others
A basic strategy player who is betting $100 at blackjack and is less valuable to the casino than a player betting $100 on roulette.
The most profitable games are the slot machines. Other than the largest players, known as ‘whales’, slot players always have the highest ADT among the general population of gamblers. Slot machines play fast, and generally, the house has a big advantage against the player. Also, there is the ever important factor: a slot machine does not require hourly pay, health insurance, dental, a retirement plan, and never calls in sick. Slot machines are pure profit for the casino.
The least profitable games tend to be either poker, blackjack, or craps. Poker is usually treated as a loss leader, meaning the house doesn’t make much money on poker, but uses it to draw in players, so that their friends or family will play slots, while they’re playing poker. Blackjack tends to run low on the margins; so low that the casinos have been changing the rules to make the game more profitable.
How ADT is calculated
There is no one universal formula for how to calculate ADT. Different casinos use various ways to calculate ADT, but there are general factors to how ADT is calculated: the game involved, the house edge of the game, the average amount bet per hand, and the length of time played. In a future article, I will go into more depth on this issue.
For the individual player, for any given day or year, their theoretical may not be their actual win or loss, but if the player plays long enough – like over a lifetime – their theoretical will move closer to becoming their actual win or loss.
In the end, whether or not you agree or disagree, almost every casino uses ADT to figure out how much in comps to give you.
EARNED VERSUS DISCRETIONARY COMPS
Let’s now talk about the freebies, themselves. To really understand comps, you must understand the difference between ‘earned’ and ‘discretionary’ comps.
Before the player ever arrives at the table, the casino has devises an ADT formula by which it will dole out comps. These comps are known as ‘earned’ comps because the player accrues those comps as they play, and the accrual of the comp is determined strictly by the formula set by the casino.
Depending on which game you play, how fast you play that game, and how much you wager, the player will earn comps based strictly on your ADT.
Your earned comps are put into a bank, with the casino, for you to spend. So lets say you lose $100, the casino will place a percentage of your losses into the ‘bank of comps’ for you to spend.
For example, here is a pic of my bank of earned comp points before my last trip to Las Vegas. I had 5,669 points, which is the equivalent of $56.59 worth of comps that I could use to apply to the cost of room, meal, goods in the casino, etc. If I had spent $10.00, on lets say a sandwich, then the casino wold deduct 1000 points from my comp bank, resulting in a balance of 4,669.
Notice that $56.69 is not enough for a room for one night in Las Vegas, much less four nights in the middle of the Las Vegas strip.
What this means is that the house is merely using your own money, that you lost, to buy you that ‘free room, buffet, food, drink, or whatever. It’s arguable whether or not an earned comp can really be considered a comp, but that’s another issue for a later date.
While the casino usually only cares only about ADT, there are exceptions. While it’s generally true that a casino doesn’t care if you win or lose, some wins or losses might be so big that it forces the casino to care. This is when the casino turns to something they refer to as ‘discretionary’ comps.
If you have a big win, the casino might be afraid that you will take your money to a competing casino and lose it at that competing casino. If you have a big loss, the casino is afraid that you’ve been burned so badly, they’ll lose a customer for the future.
So to keep you around, they will issue a comp at their discretion, just to keep you from wandering to the competition or quitting entirely. These discretionary comps usually require a host or casino supervisor to be involved.
Example of Discretionary Comp
Here is an email of my supervising host forcing a bean counter to comp me at Caesars Palace, which is a very expensive hotel.
Notice that the first person stated that I did not qualify for the comp. At the bottom of the email, the host, using his discretion, told the person to go ahead and book me for the room (nonsmoking king bed).
The casino will do everything in its’ power not to issue a discretionary comp. A discretionary comp is a form of gambling for the casino. Casinos, ironically, do not like to gamble. They want to know that any comps they’ve issued, you’ve earned through their ADT calculation. With a discretionary comp, the casino is betting that you will pay back the comp by continuing with them in the future. It’s a risk for the casino.
In a future article, I will talk about how to acquire discretionary comps. For now, it’s important to just know the difference.
A BIT OF ADVICE
I’ll close by adding this piece of advice: never alter your play for comps because the casino is just giving you back a small portion of your losses (this is true even with discretionary comps).
In a nutshell, that’s how comps work.
Advantage gambling, or advantage play, refers to legal methods, in contrast to cheating in casinos, used to gain an advantage while gambling. The term usually refers to house-banked games, but can also refer to games played against other players, such as poker. Someone who practises advantage gambling is often referred to as an advantage player, or AP. Unlike cheating, which is by definition illegal, advantage play exploits innate characteristics of a particular game to give the player an advantage relative to the house or other players. While not illegal, advantage play is often discouraged and some advantage players may be banned by certain casinos.
A skillful or knowledgeable player can gain an advantage at a number of games. Card games have been beaten by card sharps for centuries. Some slot machines and lotteries with progressive jackpots can eventually have such a high jackpot that they offer a positive return or overlay when played long term, according to the gambling mathematics. Some online games can be beaten with bonus hunting.
Sports and horse betting
Sports and horse betting can be beaten by placing arbitrage bets, which involve placing bets at different bookmakers who are offering different lines. Many online sports books now offer bonuses like free bets or free money. These bonuses usually come with a stipulation that the bettor place a certain number of bets. For example, a site may offer a bettor $50 free if they deposit $100 and place a total of $1000 in bets. These can reduce the vig taken by the house or even offer the bettor a small advantage.
Another form of advantage can be found by betting the 'middle' on a sports event. This situation occurs when two bookmakers are offering different lines on the same event, or if a bettor has placed a bet and the bookmaker changes the line. The bettor simply takes the most favorable lines at each bookmaker, and if the result of the contest is between the numbers, or in the 'middle', then the bettor wins both bets.
For example, Bookmaker A lists the Jets to be a 4-point favorite over the Bills. Bookmaker B has the Jets as just a 2-point favorite. The advantage player may bet the Bills +4 with Book A and then the Jets -2 with Book B. If the Jets win by 3, the advantage player collects on both bets. If the Jets win by either 2 or 4, the advantage player collects on one winning bet and the other 'push.' And if the Jets win or lose by any other total, the two bets cancel out, leaving the advantage player to pay only the vigorish on the bets. Given typical 10-cent lines, a middle need only win 1 time in 21 to break even, which is a realistic goal – the middle is always a plausible result since it is based on the actual strength of the teams. Middling is an example of line arbitrage.
Using special offers provided by bookmakers it is possible for a skilled bettor to put the odds in their favour. Special offers may include; cashback on specific events, enhanced odds and comp points. To profit from these specials, a skilled bettor will use betting, laying and dutching to create their own book on an event that may not guarantee profit but will still put the odds in their favour instead of the bookmaker(s) involved. Sign up bonuses are also classed as special offers and can be used in a similar way to lock in a profit regardless of the result using the principles of matched betting.
Betting exchanges offer advantage players a chance to make a larger profit than possible with bookmakers because exchanges charge commission only on the net winnings in a particular betting market. One way to make money on the exchanges is 'trading' - in the above example, the Jets might be a favorite decimal odds of 1.90 to defeat the Bills. If a 'trader' thinks these odds too long he may bet $1000 on the Jets, and should he prove correct and the odds on the Jets get shorter, 'lay off' by laying, say, a $1016 bet against the Jets at 1.87. If the Jets win, he collects $900 on his bet on the Jets and pays out approximately $884 on the bet he laid against the Jets. If the Jets lose, he loses his $1000 stake on the Jets but keeps the $1016 stake on the bet he laid against the Jets. Either way, the 'trader' makes a $16 profit and he will pay a commission only on that profit (usually not more than 5% or 80 cents in this example) for a net profit of $15.20 regardless of the result. Of course, if the odds go the wrong way the 'trader' may lose money but most exchanges do not charge a commission in the event of a net loss.
Blackjack and other table games can usually be beaten with card counting, hole carding, shuffle tracking, edge sorting, or several other methods. The players most skilled in these techniques have been nominated to the Blackjack Hall of Fame. Some video poker games, such as full pay Deuces Wild, can be beaten by the use of a strategy card devised by computer analysis of the game and often for sale in casino gift shops. And similar to the Blackjack Hall of Fame, there is an internet 'Video Poker Hall of Fame'.
Poker can offer a long-term advantage to a skilled player because it is played against other players and not against the house. The casino usually takes a rake (commission) or a time charge. Whether a poker player can win enough from the game to cover the rake and make a profit depends, aside from the rake level, not only on the player's skill, but also on the opposition's lack thereof - the degree of difficulty can vary widely from casino to casino. Tables with relatively easy opposition are referred to as 'soft.'
There is another advantage to playing poker as opposed to games where play is against the house: since the house has no direct interest in the outcome of a poker game, successful poker players can operate openly without risk of being banned by casinos.
While in the short term luck primarily determines a poker player's results, over the long term the skilled player will invariably profit if playing against weaker competition. A player can profit from their skill in many ways. For example, by understanding pot odds and implied odds, a player can assess whether it will be profitable to chase a flush or straight draw. Identifying exploitable patterns in an opponent's play also gives the skilled player an edge. For example, a weak opponent might almost never bluff, or might bluff far too often. Or an opponent might make huge bets only as bluffs, and make smaller bets with good hands (or vice versa). If a skilled player notices these patterns in an opponent's play, he or she can make better decisions when facing a bet from that player.
In live settings, some players will take advantage of tells, that is, opponent facial expressions and mannerisms that may give away information about the strength of the player's hand. Skilled players use all available information (not only an opponent's actions earlier in a hand, but also his or her actions during previous hands) to assess which action will be most profitable, be it a call or a fold, a bluff or a bet for value.
Other ways to gain an advantage
Experts disagree about whether or not an advantage can be gained at some other games. One example is dice control. Authors Stanford Wong and Frank Scoblete have stated that by setting and throwing the dice in a certain way players can alter the odds at the game of craps enough to gain an advantage.
In the Japanese game of pachinko, there are numerous purported strategies for winning, the most reliable of which is to use inside information to learn which machines have the highest payout settings. Because of the 'Stock', 'Renchan', and tenjō systems, it is possible to make money by simply playing machines on which someone has just lost a huge amount of money. This is called being a 'hyena'. They are easy to recognize, roaming the aisles for a 'Kamo' ('sucker' in English) to leave their machine in a favorable mode.
'Angle shooting' is another type of advantage play. Despite 'angle shooting' being legal, it is possibly an unethical way to beat casino games. One way to get an advantage at a casino is 'hole carding' where a player tries to look at the dealer's hole card in blackjack and then uses that information to play their hand differently. This clearly gives an advantage to the player since knowing your opponent's cards reduces the risks involved in the game. Taking advantage of incorrect payouts is another example of angle shooting. For example, if an inexperienced dealer pays 2 to 1 on a blackjack instead of 3 to 2, not correcting him or her is also taking advantage of an incorrect payout.
'Angle shooting' can also happen in poker. For instance, in no-limit poker a player may hide high denomination chips behind stacks of low denomination chips, giving off an appearance that their stack is less powerful than it really is. Another example is making an illegal move, which the player may later declare void if it suits them. While angle shooting is seen as 'fair game' in games against the house, it is heavily frowned upon in games where players compete with other players, as it ruins the table atmosphere, makes the game less appealing to novice players, and is not in the spirit of the game.
Casinos and playrooms continually create new rules to defeat angle shooting techniques.
Comp hustling can be another form of advantage gambling. Players, known as comp hustlers or comp wizards, who play games with a low house advantage or low bet size such as penny slots, can get more than their expected loss in free items from the casino. Many advantage players also take steps to maximize the comps they receive from their play.
Roulette wheels with manufacturing defects or uneven wear may land on some numbers with a statistically significantly greater frequency. It is sometimes possible, through large numbers of observations, or noting patterns of wear on the wheel's surface, to determine when this is the case and bet accordingly. Physician Richard Jarecki was able to exploit this to great effect at European casinos in the 1960s and 1970s.
Casinos sometimes take measures to thwart players who they believe pose a threat to them, especially card-counters or hole-card players. However, some casinos tolerate card-counters who do not bet large amounts, who are not good at counting, or who do not use a large betting spread.
Some countermeasures include shuffling when the deck is favorable to the player, imposing betting limits, 'backing off' players by asking them not to play blackjack any more, or asking a player to leave the casino. In New Jersey, a player may not be asked to leave a table for counting cards, although the house may still impose betting limits or shuffle sooner.
Players caught counting cards or hole-carding ultimately may find themselves listed in the Griffin Book and become unwelcome in most casinos. The Griffin Book was sued, but there are other substitutes today.
In the past, video poker and skillful progressive slot machine players were rarely ejected for winning, but the practice is common today. They may have their comps reduced or eliminated.
Skillful sports bettors, known as 'sharps', may have their betting limits reduced and may not be allowed to take advantage of bonuses at online sports books. Instead, skillful sports bettors may rely on 'runners' to place and collect their bets.
Gambling Companies Stocks
Craps players are often stopped from playing if the dice fail to bounce off the back wall of the table.
Most Reputable US Online Casino Bovada is easily one of the best USA online casino options in the industry. They were launched in late 2011, and operate exclusively for USA players. They operate under. Online Casinos are available for both International Players and USA Players, but choosing the right one can be a challenge for many online players. We have compiled a list of reputable casinos which have been extensively reviewed by us. Most Trusted USA Casinos Slots.lv Casino - Slots.lv is one of the most trusted online casinos for USA players. Make your first deposit at Slots.lv Casino, and get a EXCLUSIVE 400% matching deposit bonus. Most trusted online casinos for usa players.
Advantage players abide by the established rules of the game and thus, in most jurisdictions, are not regarded as committing fraud against the casino. So, while they may face the above casino-imposed sanctions, they are able to operate without the threat of criminal prosecution for their behavior. This is not the case in all jurisdictions, however, and some advantage players have reported more aggressive countermeasures being taken even in well known gambling locations like Monte Carlo.
How Much Gambling To Get Comps
- ^'Arbitrage - Dutching - Introduction'. The Gambling Times. Archived from the original on 31 July 2016. Retrieved 2 August 2016.
- ^'Commission'. weebly.com. Retrieved 2 August 2016.
- ^'Video Poker'. Wizard of Odds. Retrieved 2 August 2016.
- ^'vpFREE Hall Of Fame'. west-point.org. Retrieved 2 August 2016.
- ^Wong, Stanford (2005). Wong on Dice. Pi Yee Press.
- ^Scoblete, Frank (2005). 'Beat the Craps Out of the Casinos. Bonus Books.
- ^Uston, Ken (1992). Million Dollar Blackjack. Carol Publishing Corporation.
- ^'Blackjack Dealer Error'. Blackjack Forum (Online ed.). Summer 2007.
- ^ ab'Angle Shooting Poker Terms PokerNews'. www.pokernews.com. Retrieved 9 October 2019.
- ^Rubin, Max (June 2001). Comp City. Huntington Press.
- ^Scott, Jean (January 1998). The Frugal Gambler. Huntington Press.
- ^ abSlotnik, Daniel E. 'Richard Jarecki, Doctor Who Conquered Roulette, Dies at 86', The New York Times, August 8, 2018
- ^'Griffin book producer files for Chapter 11, citing suit'. Las Vegas Sun. 13 September 2005. Retrieved 2 August 2016.
- ^'Lion Tales: Fall of the Roman Empire'. brodietech.com. Retrieved 2 August 2016.
- ^Dancer, Bob (March 1, 2003). Million Dollar Video Poker. Huntington Press.
- ^Brokopp, John. 'Dice Control - Fact or Fiction'. Casino City Times.
- ^'Interviews - Semyon Dukach - MIT Card Counting Team Captain'. ThePOGG. Retrieved 10 November 2012.