vpFREE2 Forums

Accounting for comps...

#1

Without giving away anything in copyrighted publications, how does one account for comps, free play, bounceback, et cetera, for purposes of computing total return?

I have read that some people count free play at face value, and that others count non-cash comps based on the value to the individual (if you don't golf, how much is that golf bag worth?).

I ask only because my way around the issue is to account for comps as they are REDEEMED rather than when they are earned. If I don't take advantage of an offer for tickets to M.C. Hammer, then they are of no value. Free play is counted as face value only after it has been played and also counted as money in when computing net VP-only profit or loss. Discounted rooms are counted only when actually using the rooms, at the rate of lowest rate available at kayak.com less whatever I had to pay (for example, the $29.99/night deal at the HRH versus the $70 quote that day at kayak.com gives me a ~ $30 value after taxes and the "resort fee").

I find that this method, while moving perceived earnings from one month to another, accounts better for things like points expired before I could use them or possibly losing the credits before being able to cash them in (Hooter's?).

Any thoughts?

#2

sounds right to me as thats how i do it, count all comps at what you would pay for them, cash back is played thru so I figure them in with my gaming money & not seperated out.

M J

ยทยทยท

--- In vpFREE@yahoogroups.com, "dixiepokerace" <bigrich@...> wrote:

Without giving away anything in copyrighted publications, how does one account for comps, free play, bounceback, et cetera, for purposes of computing total return?

I have read that some people count free play at face value, and that others count non-cash comps based on the value to the individual (if you don't golf, how much is that golf bag worth?).

I ask only because my way around the issue is to account for comps as they are REDEEMED rather than when they are earned. If I don't take advantage of an offer for tickets to M.C. Hammer, then they are of no value. Free play is counted as face value only after it has been played and also counted as money in when computing net VP-only profit or loss. Discounted rooms are counted only when actually using the rooms, at the rate of lowest rate available at kayak.com less whatever I had to pay (for example, the $29.99/night deal at the HRH versus the $70 quote that day at kayak.com gives me a ~ $30 value after taxes and the "resort fee").

I find that this method, while moving perceived earnings from one month to another, accounts better for things like points expired before I could use them or possibly losing the credits before being able to cash them in (Hooter's?).

Any thoughts?