I have two distinct lives. One in the trenches of low-budget film and television, the other in professional gambling. Because of the feast-or-famine nature of show business I need a reliable income... gambling. So here you will read about both worlds. Enjoy!

Sunday, June 23, 2013

Don't Revel in your loss rebate

The internet is all aflutter with the announcement by Revel Hotel-Casino in Atlantic City, that for the month of July they are offering a 100% loss rebate up to $100,000. That's right, 100% on 100k. The offer applies to action on slots, video poker, and electronic table games. There are threads on Wizard of Odds, VPfree, and several blackjack sites. I am sure that casino consultants will weigh in very shortly.

Before you get too excited you should know that to collect this rebate you receive 5% of your loss back each week for 20 weeks. You may be able to do this in 10 trips if say the new week begins on Monday you can schedule your trips so that on Sunday you collect for week 1, and then after midnight collect for week 2. But this would still mean making 10 trips to AC.

But there is a bigger problem. Casinos often have promotions that give away money. They often cost themselves more than they realize, and many players take advantage of these promotions. Usually when they stick their foot in it they lose 6 figures, maybe into 7 on a really bad one. This promo has the potential to cost them tens of millions of dollars. There is a long history of casinos changing the rules in the middle of a promo, or even after the fact. Every player faces the danger of the casino suddenly saying, "We changed our mind, Video Poker doesn't count," or "Sorry, we didn't mean those slot machines that you played, it was only for these that you didn't." On the flyer I read it said, "See the Revel card desk for details." I haven't been able to find any additional details online. So if you live fairly close to AC and want to give it a shot, by all means. Just don't expect this to be a walk in the park.


Just got jacked said...

Revel has the potential of a loss, but what do they gain in return? They will have a windfall in July not only in slot returns but all of the other activities that high limit slot players will engage in and pay for. Also all the buzz, advertising, and good PR. Any many will not be able to return 20 times for the rebate, so I do not think we can count 100% as a given. Maybe only 80-90%, possibly much less. And think of all the AP's that will avoid other advantage plays at Revel during this time so as to not jeopardize the slot rebate. They can give their in house counter catcher 6 months off :)

Anonymous said...

I think tnis will be a disaster for Revel (so what... they're now synonomous with disaster!)

The very folks they want and need the most wdn't read the rules and will get angry when they find out about coming back 20 times and getting credits for play rather than case.

Changing the rules in midstream will give them a real black eye.

I think the key will be:

a) making big bets on high-volatility machines during July, thew small bets on low-volatility machines in the ensuring 20-week rebate period;

b) how much you have to play during the rebate period to be able to cash out (real cash).

Alan Krigman

ZenMaster_Flash said...

At Revel I asked but was not told whether or not the promotion applies to Video Poker.

Personally I doubt that it would.

IF it did, even with their mediocre selection of available Video Poker games, this could be an historic opportunity, not to be missed.

When the promo has to do with PROGRESSIVE slot machines, A.P. teams can monopolize 1, 2, or a bank of machines. The day can be divided into four 6 hr. shifts or three 8 hr. shifts, or whatever.

Anonymous said...

Can this be revisited on Gambling with an Edge now that more things are becoming clear?

Richard Munchkin said...

We would be happy to discuss there further but I haven't heard any new information. It is time for people to start collecting but I haven't heard any reports.