A Newhizzle prediction

[Jeffmet3]

[ QUOTE ]
Jeff,

"El D. realistically, what % about do you think people get in comps for their pit losses?"

Last time I looked into this (a few years ago), casinos were comping back between 20-40% of your expected loss based on the total amount of bets you make (based on avg bet x time played). Say you're betting $100/hand at a game dealing 100 hands/hour with a house edge of 2%. The casino is making on average $200/hour from you there and will comp you $40-80/hr, the nicer the casino the lower the rate. I know casinos still use this process, not sure if the comp rates are still the same, though.

Of course, betting $100/hand, you could easily be +/- a few thousand in an hour. For the most part, whether you win or lose is irrelevant to comps. There's one exception to that. If you lose a ton of money in a very short time such that you don't really accumulate any comp points and bitch to your host about what a POS unlucky sh--hole the casino is, the casino will often comp you something like 10% of your loss. Also, if you gamble very high stakes, casinos will sometimes actually rebate some of your losses. But we're talking super high stakes there.

[/ QUOTE ]

okay thanks. So that 60% of EV they're keeping takes away any chance of it being close to almost worth it for the convenience value.

also one other question aren't casinos not allowed to comp straight cash? I though I remember reading about some australian billionaire suing a casino because it rebated him 30% of losses and he said it was illegal.