vpFREE2 Forums

Jean's Frugal Fridays/Caesars Slot Tourney/$3 Million on Us

#1

In a message dated 6/17/06 8:22:24 AM US Mountain Standard Time,
GRAYTLEEGRAY@aol.com writes:

···

>>>>>>SNIP<<<<<<

Future HET promos have to be considered. HET is currently doing a
system-wide $3 Million on Us promo based on Tier points earned during the 10
week
qualifying period. Every 25 Tier points gets an entry into a local drawing.
Each
of 32 casinos will select their 10 representitives for the Big Bang Finale
where $1 million is up for grabs, 1 million Reward Credits or 1 million
Airline
miles. Each house also has local drawings which adds value.

Figuring this one out will be tough. But each house has 10 Finalists, so if
you are a Finalist you would have 1/320 chance of winning one of the three
Grand Prizes.

******

Well I started to get into looking at the value of the BBF on September 10th
for HET casinos. I actually broke out my official rules card for Laughlin.
This is a 4x9 inch glossy card promoting the "$3 Million on Us" deal.

First to note it runs May 8th to August 27, about 13 weeks.

Laughlin is going to select 8 Finalists, not 10 as I stated. It does not
state just how many Finalists will be selected for each casino. Maybe it was a
previous BBF (Treasure Hunt, Money Tree) where I got the 10x32= 320 Finalist
total?

So I will not assume all 32 outlets select 8, which would be a 1/256 chance.
Does anyone else have their casino's "official rules" in their hands?

Laughlin will select their 8 at 1pm for the 5pm BBF, with in-house closed
circuit TV. Right after the BBF, Laughlin casino will select 5 contestants for
the in-house 1 million Reward Credit drawing.

Here are some questions:

Are all HET casinos doing their Finalist drawing at 1pm PDT? This would
preclude participating in Vegas in more than one of these.

Who knows what value a 25 year/$40k annuity is worth in today's dollars?
That really is the Grand Prize.

Who knows what 1 Million Reward Credits are worth converting them to Visa
Cards? They still do this right?

Who knows what 1 Million American Airline miles are worth? Is there any way
to convert to cash?

BS

[Non-text portions of this message have been removed]

#2

-- SNIP --

Here are some questions:

Who knows what value a 25 year/$40k annuity is worth in today's

dollars?

That really is the Grand Prize.

The present value of a stream of $40,000 payments for 25 years
depends on the discount rate. The present value at assorted
reasonable interest rates follows:

4.00% - $649,879
4.50% - $619,819
5.00% - $591,946
5.50% - $566,068
6.00% - $542,014

As you can see, as the assumed discount rate increases the lump sum
value decreases. If they (Harrahs) attempt to use what I consider to
be an unreasonable discount rate (like 8.00%) the lump sum value will
be even lower. For example, a rate of 8.00% results in a lump sum of
$461,150.

Steve

···

--- In vpFREE@yahoogroups.com, GRAYTLEEGRAY@... wrote:

#3

Another vintage Harrahs promotion where they make absolutely nothing
sound like the greatest event in modern civilization. For the traffic
and action they get, $30 million on the house would be more fitting.
The cost of this promo per player per trip likely doesn't even reach
one cent.

···

--- In vpFREE@yahoogroups.com, "Steve" <peanuts.sweetbriar@...> wrote:

--- In vpFREE@yahoogroups.com, GRAYTLEEGRAY@ wrote:

-- SNIP --

> Here are some questions:

> Who knows what value a 25 year/$40k annuity is worth in today's
dollars?
> That really is the Grand Prize.
>

The present value of a stream of $40,000 payments for 25 years
depends on the discount rate. The present value at assorted
reasonable interest rates follows:

4.00% - $649,879
4.50% - $619,819
5.00% - $591,946
5.50% - $566,068
6.00% - $542,014

As you can see, as the assumed discount rate increases the lump sum
value decreases. If they (Harrahs) attempt to use what I consider to
be an unreasonable discount rate (like 8.00%) the lump sum value will
be even lower. For example, a rate of 8.00% results in a lump sum of
$461,150.

_______________________________________________________________________

paladingaming.net

#4

Steve wrote:

If they (Harrahs) attempt to use what I consider to be an unreasonable
discount rate (like 8.00%) the lump sum value will be even lower.

Before taking the lump sum you shop the annuity around. If Harrah's
has low-balled the lump sum amount, you won't have any difficulty
finding a firm to buy out the annuity at a stronger price.

- Harry

#5

Gary--I believe the "going rate" for airline miles is .02 each.which would be $20,000.
  OR 1 Million miles divided by 25.000 (average amount of miles required to redeem for
  US domestic round trip) times $400 (average amount for round trip) would give you $16,000! Throwing in a few hops to Europe, Asia, and Australia would probably get you close to that $20,000. Just an FYI. . . .

···

####################################################################
  In a message dated 6/17/06 8:22:24 AM US Mountain Standard Time,
GRAYTLEEGRAY@aol.com writes:

>>>>>>SNIP<<<<<<

Future HET promos have to be considered. HET is currently doing a
system-wide $3 Million on Us promo based on Tier points earned during the 10
week
qualifying period. Every 25 Tier points gets an entry into a local drawing.
Each
of 32 casinos will select their 10 representitives for the Big Bang Finale
where $1 million is up for grabs, 1 million Reward Credits or 1 million
Airline
miles. Each house also has local drawings which adds value.

Figuring this one out will be tough. But each house has 10 Finalists, so if
you are a Finalist you would have 1/320 chance of winning one of the three
Grand Prizes.

******Well I started to get into looking at the value of the BBF on September 10th
for HET casinos. I actually broke out my official rules card for Laughlin.
This is a 4x9 inch glossy card promoting the "$3 Million on Us" deal.. . . . . .
Who knows what value a 25 year/$40k annuity is worth in today's dollars?
That really is the Grand Prize.
Who knows what 1 Million Reward Credits are worth converting them to Visa
Cards? They still do this right?
Who knows what 1 Million American Airline miles are worth? Is there any way
to convert to cash? BS

Jean H--
   
  You have brains in your head. You have feet in your shoes.
You can steer yourself any direction you choose.
You're on your own. And you know what you know.
  And YOU are the one who'll decide where to go.... Dr. Suess

---------------------------------
Do you Yahoo!?
Everyone is raving about the all-new Yahoo! Mail Beta.

[Non-text portions of this message have been removed]

#6

Gary--I believe the "going rate" for airline miles is .02 each.which would be $20,000.
  OR 1 Million miles divided by 25.000 (average amount of miles required to redeem for
  US domestic round trip) times $400 (average amount for round trip) would give you $16,000! Throwing in a few hops to Europe, Asia, and Australia would probably get you close to that $20,000. Just an FYI. . . .

···

####################################################################
  In a message dated 6/17/06 8:22:24 AM US Mountain Standard Time,
GRAYTLEEGRAY@aol.com writes:

>>>>>>SNIP<<<<<<

Future HET promos have to be considered. HET is currently doing a
system-wide $3 Million on Us promo based on Tier points earned during the 10
week
qualifying period. Every 25 Tier points gets an entry into a local drawing.
Each
of 32 casinos will select their 10 representitives for the Big Bang Finale
where $1 million is up for grabs, 1 million Reward Credits or 1 million
Airline
miles. Each house also has local drawings which adds value.

Figuring this one out will be tough. But each house has 10 Finalists, so if
you are a Finalist you would have 1/320 chance of winning one of the three
Grand Prizes.

******Well I started to get into looking at the value of the BBF on September 10th
for HET casinos. I actually broke out my official rules card for Laughlin.
This is a 4x9 inch glossy card promoting the "$3 Million on Us" deal.. . . . . .
Who knows what value a 25 year/$40k annuity is worth in today's dollars?
That really is the Grand Prize.
Who knows what 1 Million Reward Credits are worth converting them to Visa
Cards? They still do this right?
Who knows what 1 Million American Airline miles are worth? Is there any way
to convert to cash? BS

Jean H--
   
  You have brains in your head. You have feet in your shoes.
You can steer yourself any direction you choose.
You're on your own. And you know what you know.
  And YOU are the one who'll decide where to go.... Dr. Suess

---------------------------------
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[Non-text portions of this message have been removed]