Re: majanduse offtopic
imo, väga solid huvitav lugemine live kasiino köögipoolest. Vb suht OT
The second mistake is the idea that management can pay anything for premium play. Up until the mid-1980s, the only tools available to marketers were complimentary rooms, food, beverages, airfare and an occasional special event. It was impossible to return any significant portion of a true high roller’s theoretical loss. Back in the day, the good about the premium player was that the play yielded a high profit margin. The bad about the premium play was the extreme volatility—huge player losses and huge player wins. Well, we have finally, though unfortunately, invented something that keeps the bad (volatility) while minimizing or even eliminating the good (high profit). That invention is the discount on loss. Players have now become the casino, and the casino is now the player.
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The game opened at 6 p.m. each evening, and there was always a line to play the game. And why not? A card counter would love to find a game with a slight advantage, and this rule modification gave the banker bettor a 1.24 percent advantage. The game actually happened to show a profit the first month of operation, thereby convincing the executive that math only got into the way. But a short time thereafter, the rule change was gone and so was the executive. Who would have thought?
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Recently I was contacted by a casino that was offering a dice player a 12 percent discount on losses over $100,000 and 17 percent on losses over $200,000. This dice player bet $5,000 on the pass line with 3-4-5x odds and took the maximum of up to five come bets of $5,000 with 3-4-5x odds. In addition, the player was given promotional chips to encourage the visit. I was told that the player seldom played as long as an hour. Well, if you do the math, you discover that this player’s positive expectation is more than $8,000 per hour. Never mind the expense of the promotional chips.
In trying to explain to the executive how the discount worked and how detrimental it was to management, he asked “But what do I tell the player who is getting the same deal elsewhere?” I told him that he should adopt a strict company policy: Never offer a game where the advantage to the casino is less than zero. Never. I don’t know why casinos would ever go this far to offer a premium player a dead-even game, but if they adopted this simple policy, they would be doing themselves a great service. (By the way, this player’s average bet is about $57,000, so the casino suffers through extreme wins and losses without any of the benefit of a high profit margin.)
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In September 2011, The Press of Atlantic City penned an article titled “Blackjack player who took Atlantic City casinos for $15 million says rules put the math on his side.” The tipoff to executives should have been the fact that more and more professional poker players are now negotiating discounts and playing table games. Yet today, astute players are preying on the less astute casino executive and are winning. Casino marketers feel like they must compete regardless of the parameters of the deal. Ignore this feeling. If faced with a deal where the casino has a disadvantage or not, choose not.
imo, väga solid huvitav lugemine live kasiino köögipoolest. Vb suht OT
The second mistake is the idea that management can pay anything for premium play. Up until the mid-1980s, the only tools available to marketers were complimentary rooms, food, beverages, airfare and an occasional special event. It was impossible to return any significant portion of a true high roller’s theoretical loss. Back in the day, the good about the premium player was that the play yielded a high profit margin. The bad about the premium play was the extreme volatility—huge player losses and huge player wins. Well, we have finally, though unfortunately, invented something that keeps the bad (volatility) while minimizing or even eliminating the good (high profit). That invention is the discount on loss. Players have now become the casino, and the casino is now the player.
-----
The game opened at 6 p.m. each evening, and there was always a line to play the game. And why not? A card counter would love to find a game with a slight advantage, and this rule modification gave the banker bettor a 1.24 percent advantage. The game actually happened to show a profit the first month of operation, thereby convincing the executive that math only got into the way. But a short time thereafter, the rule change was gone and so was the executive. Who would have thought?
-----
Recently I was contacted by a casino that was offering a dice player a 12 percent discount on losses over $100,000 and 17 percent on losses over $200,000. This dice player bet $5,000 on the pass line with 3-4-5x odds and took the maximum of up to five come bets of $5,000 with 3-4-5x odds. In addition, the player was given promotional chips to encourage the visit. I was told that the player seldom played as long as an hour. Well, if you do the math, you discover that this player’s positive expectation is more than $8,000 per hour. Never mind the expense of the promotional chips.
In trying to explain to the executive how the discount worked and how detrimental it was to management, he asked “But what do I tell the player who is getting the same deal elsewhere?” I told him that he should adopt a strict company policy: Never offer a game where the advantage to the casino is less than zero. Never. I don’t know why casinos would ever go this far to offer a premium player a dead-even game, but if they adopted this simple policy, they would be doing themselves a great service. (By the way, this player’s average bet is about $57,000, so the casino suffers through extreme wins and losses without any of the benefit of a high profit margin.)
----
In September 2011, The Press of Atlantic City penned an article titled “Blackjack player who took Atlantic City casinos for $15 million says rules put the math on his side.” The tipoff to executives should have been the fact that more and more professional poker players are now negotiating discounts and playing table games. Yet today, astute players are preying on the less astute casino executive and are winning. Casino marketers feel like they must compete regardless of the parameters of the deal. Ignore this feeling. If faced with a deal where the casino has a disadvantage or not, choose not.
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