A common mistake in both the vpFree database and in postings is not
understanding that coin-in and theoretical loss calculations, as far
as comps are concerned, are the same measures. Just what exactly are
casinos calculating theoretical loss on, coin-in. The real change
that is occuring, is mostly based on the changing spread between
theoretical loss and actual loss experienced by the casinos.
Historically most vp players play at 2% below the theoretically
correct level. Casinos in the past tended to comp on this level of
loss, e.g. 9/6 JOB assume 2.5% loss historical...now something much
closer to 0.5%. This is where the big comp gains can be made
in "skilled" games, skilled blackjack players also reap this benefit.
That's a Big Change.
I suspect the pendulum will swing back in the skilled players
direction, since the vast majority of players, even in Vegas, are
unskilled in their play. How long can the casinos comp people who are
losing 2-5% as if they were losing 0-3%, from a coin-in perspective
this difference is huge. It also appears that casinos seem less likly
to make allowances for actual player's losses when awarding
discretionary comps.
Just as in banking the optimal level of non-performing loans is not
zero, you lose too many good customers by having standards too
strict. Casinos will soon figure out that it is optimally profitable
to have a small segement of your clientele that is over comped.
Perhaps if casinos hired knowledgable management consultants instead
of dim witted gambling addicted players that moonlight as casino
consultants, the business would be more profitable for everyone,
player and stockholder alike.
thymos_one
Casino Comps
New Group Dedicated to Tracking Casino Comps
http://groups.yahoo.com/group/casino_comps/