Assume you are at a posh resort on the Strip. The VP available is at
most [99% + something not higher than 0.54%] return, the returns get
worse on multi plays or on lower denominations. You decide you want
to maximize the amount of dollars recycled in the machines so as to
get comps, and you want also to minimize the risk of losing money.
The questions are, first, what do you do? Second, does it make sense
to ask the question? I consider this problem interesting for people
lodging at Mandalay Bay, Venetian, Bellagio, Mirage, TI, Paris,
Bally's, even Caesars, and other casinos. Thanks.
Non FAQ Questions.
One can play to optimize whatever one wishes to optimize. However,
you do have to choose. It is probably not possible to simultaneously
optimize 1) number of dollars recycled, and 2) risk of losing.
Assuming the comps make this play favorable overall, the min-risk
strategy is to bet the lowest denomination that gives the best overall
return (factoring in comps) and play using a min-risk strategy, which
is slightly different than the usual max-EV strategy. This maximizes
the probability that you will play forever without going broke. However,
if your starting bankroll is small, your chance of actually surviving
for a long time will be quite small.
···
On Wednesday 16 March 2005 01:03 pm, superquadfullhousroyalistic wrote:
Assume you are at a posh resort on the Strip. The VP available is at
most [99% + something not higher than 0.54%] return, the returns get
worse on multi plays or on lower denominations. You decide you want
to maximize the amount of dollars recycled in the machines so as to
get comps, and you want also to minimize the risk of losing money.
The questions are, first, what do you do? Second, does it make sense
to ask the question? I consider this problem interesting for people
lodging at Mandalay Bay, Venetian, Bellagio, Mirage, TI, Paris,
Bally's, even Caesars, and other casinos. Thanks.
I was thinking of Wynn Las Vegas. Apparently you can get casino rates
if you recycle $2,000 and a free room comp if you recycle $11,000.
This looks less than Bellagio, so I'm not sure I believe it, but
suppose it is that, or twice as much. We'll have to wait and see what
VP games are offered there in the different denominations, but I bet
he won't have anything near 100% return. Maybe eight hours of ten
play nickel VP would be enough to get casino rates; even if the
paytable is lousy, one can probably last a while without losing too
much, or even winning. We'll have to wait and see. Maybe they will
have a few good games by mistake for a couple of weeks. Thanks for
your reply.
> Assume you are at a posh resort on the Strip. The VP available is
at
> most [99% + something not higher than 0.54%] return, the returns
get
> worse on multi plays or on lower denominations. You decide you
want
> to maximize the amount of dollars recycled in the machines so as
to
> get comps, and you want also to minimize the risk of losing money.
> The questions are, first, what do you do? Second, does it make
sense
> to ask the question? I consider this problem interesting for
people
> lodging at Mandalay Bay, Venetian, Bellagio, Mirage, TI, Paris,
> Bally's, even Caesars, and other casinos. Thanks.One can play to optimize whatever one wishes to optimize. However,
you do have to choose. It is probably not possible to
simultaneously
optimize 1) number of dollars recycled, and 2) risk of losing.
Assuming the comps make this play favorable overall, the min-risk
strategy is to bet the lowest denomination that gives the best
overall
return (factoring in comps) and play using a min-risk strategy,
which
is slightly different than the usual max-EV strategy. This
maximizes
the probability that you will play forever without going broke.
However,
if your starting bankroll is small, your chance of actually
surviving
···
--- In vpFREE@yahoogroups.com, Steve Jacobs <jacobs@x> wrote:
On Wednesday 16 March 2005 01:03 pm, superquadfullhousroyalistic wrote:
for a long time will be quite small.