Casino Theo Win

Your theoretical loss to the casino (your casino theo or average daily theoretical – ADT) is the way the casino calculates what you are worth to them. It’s not a theoretical win because every game that the casino offers has a house advantage and the payoff for a bet is always less than the odds of winning that bet. Theoretical Win (Theo) Of all the numbers that describe a casino player, the one that is most often sought out by marketing is the theoretical win (theo). This number describes the expected house win for a player, based on the total amount wagered by the player and the game played. In case you missed these AMAZING VegasLowRoller YouTube videos, here are a few huge wins from my channel:A HUGE WIN:https://www.youtube.com/watch?v=rCOLBnVO5. Your theoretical loss to the casino (your casino theo or average daily theoretical – ADT) is the way the casino calculates what you are worth to them. It’s not a theoretical win because every game that the casino offers have a house advantage and the payoff for a bet is always less than the odds of winning that bet. Theoretical win is derived from the probabilities built into any casino game. As all casino games are designed (in theory) to guarantee a return to the casino, the theoretical win (winnings for the player) is always negative while the expected value, also known as expectation (winnings for the casino) is always positive.

How often is it you meet a 3rd party service provider or even an agency that doesn't know your lingo? ADT, theo win, slot occupancy – these are just few terms that are tossed around daily by casino executives, marketing teams and database marketing departments. We get it, we know your language, and we're here to help.

If you're new to gaming or training new employees, please refer to the below glossary of casino marketing terms. This list should help make meetings and casual conversations with casino industry veterans less stressful.

  • A
    Acquisition
    The process of acquiring new guests. In gaming this refers to gathering new player’s club members.
    Active
    Player’s club members that have played within a certain time period, usually in the last 12 months.
    Actual Win
    The monetary amount the casino actually wins from a player. There can be a large discrepancy from theoretical win (Twin) if someone hits a jackpot or if there is a savvy table games player. Also known as 'casino win.'
    ADT
    Average Daily Theoretical win (See Theoretical win).
  • B
    Bonus Points
    Points that are not earned but rather awarded based on a promotion or event.
  • C
    Carded Play
    The portion of total gaming revenue that was tracked using player’s club cards.
    Casino Win
    The monetary amount the casino actually wins from a player. There can be a large discrepancy from theoretical win (Twin) if someone hits a jackpot or if there is a savvy table games player. Also known as 'actual win.'
    Coin-in
    Total bets cycled through a machine that includes both cash-in and credits played. Also referred to as ‘bet,’ ‘handle’ or ‘wager.’ Total coin-in reflects both carded and non-carded coin-in. Carded coin-in reflects only coin-in generated using a players club card.
    Core Program
    Regular monthly life-cycle program. (Acquisition, Loyalty, Downtrender, Recapture, Birthday, etc.)
    Criteria
    The selected parameters that need to be met to receive an offer or enter a tier or segment.
  • D
    Database
    All player data collected through the player's club, including gaming data, demographics,preferences, etc.
    Demographics
    Characteristics such as annual income, age, sex, distance to the casino, etc., which can be used to project or influence behavior.
    Direct Mail
    Mail programs in which offers are targeted to guests based on specific, pre-selected criteria with a specific marketing goal (acquisition, retention, reactivation, etc.). Can include email as well.
    Downtrender
    A player’s club member whose current play is lower based on Twin per month or quarter than it has been in the past. This can be attributed to a loss in frequency or spend.
  • F
    Frequency
    How frequently (often) a player visits and has activity. Trips in a distinct time period can also define this.
  • G
    Goal
    The purpose toward which an endeavor is directed. The state of affairs that a plan is intended to achieve and that (when achieved) terminates behavior intended to achieve it; “the ends justify the means.” Most gaming program goals involve Acquisition, Retention/Loyalty, Stretch, Recapture.
  • H
    Hold
    The amount the game or group of games made for the organization. This is based on game type, skill level, odds and system settings.
    Hotel Occupancy
    The amount of rooms occupied/sold expressed in a percentage of those available.
  • I
    Incremental Win
    The difference between win that normally would have occurred based on a guest’s RFM score (see RFM definition below) and win when provided with a stimulus (i.e.: a coupon).
  • K
    Key Metrics
    Identified areas of measurement that are considered high priority in analyzing operational performance.
  • L
    Layering
    Creating offers and promotions in such a way as to allow players to redeem multiple things in one trip/day.
  • M
    Marketing
    Everything involved in the movement or sale of goods.
    Marketing Mix
    The percentages and dollars budgeted to each sub department in the overall marketing department.
    Market Share
    The amount of Guests that patronize our casino vs. visiting other casinos in the area.
    Member File
    The entire database of player’s club members; all enrolled members including active and non-active.
    Modeling
    Identifying particular demographics that model a particular behavior such as gaming characteristics. Used primarily in determining acquisition efforts.
  • N
    New Members
    New patrons joining the player's club database.
    Non-Active/Inactive
    Player’s club members on our member file who have not played within a specified time period.
  • O
    Offer Redemption Percentage
    The quantity of players that redeem a specific offer expressed against the total number of offers distributed. (total offers redeemed / total offers issued = offer redemption percentage)
  • P
    Player Development
    This definition varies widely; it is used to describe the internal department and functionality of casino hosts. In actuality, it is everything involved in increasing loyalty and therefore the RFM of each player. This includes one-to-one service, personalized benefits, direct mail offers and copy, etc.
    Player Type
    Usually used as a stratification tool based on distance of residence or by arrival type. Examples include local, junket (bus), group (convention), destination, etc.
    Postforma
    A document that measures the profitability of a specific program. This includes all program-specific expenses and revenue. Preforma is a similar document that is used for forecasting a program's profitability.
    Preforma
    A document that projects the profitability of a specific program. This includes all program-specific expenses and forecasted revenue. Postforma is a similar document that is used for measuring acutal profitability of a program.
    Profit Margin
    The percentage of expense compared to revenue. Net Revenue / Gross Revenue = X%
  • R
    Reactivation
    The process of attracting guests who have not played for an extended period of time, but at one point were active.
    Recency
    A method of measurement that identifies how recently a wager or purchase has been made.
    Response Rate
    The quantity of players who responded to an offer expressed against the total group of players issued offer(s). (total player responders / total number of players who received offer(s) = response rate)
    Retention
    The process of retaining current guests on the member file. The period of time used depends on the overall RFM of the member file. This sometimes means re-activating members from the member file that have become inactive. Reactivating members is 1/3 of the cost of Acquisition.
    RFM
    Recency, Frequency, Spend. A common method of assessing value of customers through recency, frequency and spend. Spend refers not only to the wager amount but also the items/services purchased.
  • S
    Script or Point Redemption
    The financial term for the cost of the cash back redemption. It is generally one of the larger expense items.
    Segments
    Defined groups within the database based on recent play and used to determine the offers the patron will qualify for.
    Share
    The portion of the spending that occurs at our facility vs. other entertainment organizations.
    Slot Occupancy
    A plan of action intended to accomplish a specific goal, using all the forces to execute approved plans as effectively as possible.
    Stratification
    To divide guests into a series of graded statuses or classes; i.e. dividing the database into tiered segments based on player type, etc.
  • T
    Tactical (Tactical Execution)
    An expedient for achieving a goal; a maneuver of less long-term significance than strategic operations or strategy.
    Theoretical Win (or Theo Win or Twin)
    The amount that the casino should win in theory, based on hold percentage and the random number generator or game type/odds. (coin-in x hold = theoretical win)
    Tiers
    Most often used to describe the defined groups within the player's club structure based on play and used to determine player's club benefits.
    Trip(s)/Days
    The frequency measure used in gaming. A defined period of time that starts when the player’s club card has been inserted and there has been play. The length of a trip and associated parameters vary widely.

In the context of casinos, comps are complimentary items and services given out by casinos to encourage players to gamble.[1] The amount and quality of comps that a player is given usually depends on a combination of factors: what game(s) they play, how much they bet, and how long they play.

Most casinos have casino hosts who are responsible for giving out free items and contacting players to bring them back to the casino. Pit bosses can also award comps at table games. Most casinos now urge players to obtain a player's club or similar card, so that their play can be tracked and comps awarded.[1]

Levels[edit]

The lowest level of comp available at most casinos is free alcohol and other beverages. Many casinos provide free drinks to anyone who is gambling.[1]

The second level of comp that many players earn is free self-parking, lounge access, or free meals. Many casinos have several players lounges and restaurants, and may require more play to earn a comp to higher-end restaurants. Often the player is given a certain amount to spend, but sometimes, particularly with high rollers, the player may be given the right to order as much food as they want and to bring guests.[citation needed]

The next level of comps is usually free hotel rooms, free valet parking, and free access to more exclusive VIP or 'high roller' lounges. Many casinos have attached hotels, but those that do not may have the ability to comp rooms to a hotel nearby.[citation needed] Many casino hotels have higher quality rooms, such as suites, villas, presidential suites, and so on for bigger bettors or VIP guests. Many players who receive hotel rooms receive a package called 'RFB' (for 'room, food, and beverage') or 'RF' (for 'room and food') for smaller bettors, or in jurisdictions where casinos are not allowed to give free alcohol.[citation needed]

Casino theo win

Many casinos also offer other comps, especially to high rollers. These may include airfare reimbursement, limo rides, tickets to shows, golf, free concierge services, cash back, money to show up in the casino, loss rebates, private gaming areas, and private jet service.[2]

Casinos also frequently offer players comps by mail or email, or in casino apps. These may be free bet offers, free meals, discounted or free rooms, or entries into tournaments or prize drawings.[3] These offers will often come with terms and conditions that establish the rollover and wagering requirements.[4] An aspect most users overlook and the main cause for winnings withdrawal rejection.

Some casinos contract with bus companies to bring players in. Riders often enjoy free slot play, dining coupons, and other benefits, often worth as much as the bus fare itself.[5]

Calculation[edit]

Technically, every player may be offered comps, but most casinos require players to have played for a given period of time and play at a certain level, i.e., the duration of play and amount wagered are directly proportional to the level of expected comps. What games are played are also factors.[6] Casinos award comps based on a player's Average Daily Theoretical loss, also known as ADT, theoretical loss, or 'theo' for short. The theoretical loss is the amount of money a player is expected to lose based on the long run statistical advantage the casino has on the particular game being played.[7][8]

Casino

Theoretical loss algorithms differ somewhat among casinos,[9][10] but in general, the logic behind the calculation is as follows:

Theoretical Loss = (Casino Advantage) × (Total Wager)[citation needed]

Hustling[edit]

Players known as 'comp counters', 'comp hustlers', or 'comp wizards'[11] attempt to maximize the amount of comps they receive while minimizing their expected gambling losses.[12][13] Comp hustlers play games with a low house advantage, such as blackjack or video poker, or games with small bet sizes, such as penny slots. Comp hustlers may use tactics such as placing large bets when a pit boss is checking their bet size to rate them for comps, and then moving to a smaller bet size when the boss is not watching. They may also take frequent breaks from playing, play at full tables to be dealt fewer hands per hour, and play more slowly.[12] Comp hustling is a type of advantage gambling if the player is able to hustle more in comps than their average cost of gambling.[14] And the author of 'How to Get a Dollar in Casino Comps for Every Dime You Lose Gambling', in their summary of key takeaways from Max Rubin's book, Comp City,[15] observes: 'The next step up from being a comp wizard is to become a comp counter. These players have specific knowledge and skills that enable them to combine a low house edge with comps in order to profit.' Another step up are practitioners of 'ACES (Advanced Comp Earning System). People practicing this kind of system earn a dollar's worth of comps for every dime they lose gambling.'[16]

Online[edit]

Online casinos, poker rooms, and sportsbooks offer a variety of bonuses that are similar to brick and mortar casino comps. Also similarly, comp hustlers and advantage players can use these bonuses to turn a profit via bonus hunting, or can convert these comps to a guaranteed profit using the technique of matched betting.

Many online casino operators are aware of the potential for losing money while giving out bonuses. As such, there is often a minimum wagering requirement for cashing out.

Casino Theo Wins

Some casinos will limit the payout in case of a win. Also, they may restrict players from playing certain games, often those games with a low house advantage. And, they may require players to bet the bonus amount multiple times before being able to cash out. For example, a casino may require a player to bet the bonus amount 50 times before being able to cash out. So, for a $100 bonus, a player would have to bet $5,000 before being able to cash out. Therefore, it is advantageous for players to check the wagering requirements of a bonus.[17] All bonuses have a turnover requirement. This means that placing a certain number of wagers, such as turnover 5x, means wagering 5 times the bonus. Most online casinos distinguish two types of bonuses: a no deposit bonus and a deposit bonus. First one does not require from a user to make a deposit at a casino in order to start playing. A deposit bonus requires from a user to make a deposit of certain amount of funds to start playing at the casino. Both of these type bonuses apply to terms and conditions of turnover requirements.[18]

Casino Theo Win Loss

References[edit]

Casino Theo Windsor

  1. ^ abc'Keeping Customers Happy in Casinos'. ABCNews. November 1, 2007.
  2. ^'Cashback Casino Bonuses'. Best Online Casino Offers.
  3. ^Grochowski, John (17 June 2003). 'Comps - The Basics'. Casino City Times.
  4. ^'Rollover and Wagering Requirements'. Onlineunitedstatescasinos.com. Retrieved 7 October 2020.
  5. ^Moro, Marianne (Leaf Group). 'Travel Tips: Atlantic City Casino Tours'. USA Today.
  6. ^'THE EXPERTS GUIDE TO COMPS'. www.smartgaming.com. Retrieved 2016-01-13.
  7. ^'CASINO COMPS & YOUR 'AVERAGE DAILY THEORETICAL''. N.E. Time Gambling. August 10, 2016. Archived from the original on October 28, 2018. Retrieved October 27, 2018.
  8. ^Coach Kitty. 'Gambling: Casino THEO: It's All About the Theo'. TravelZork.
  9. ^Scoblete, Frank. 'Getting the Most from Your Slot Play: Points, Bounceback, Mail Offers and Good Machines'. CasinoCenter.com. Retrieved October 30, 2018.
  10. ^Coach Kitty (April 19, 2017). 'Caesars Total Rewards Part 4: Generating Casino Offers (Marketing OFfers)'. TravelZork.
  11. ^Stevens, Michael (June 10, 2018). 'How Comps Work In Gambling (And How to Make Them Work for You)'. GamblingSites.org.
  12. ^ abRubin, Max (June 2001). Comp City. Huntington Press. ISBN978-0-929712-36-9.
  13. ^Scott, Jean (July 2005). The Frugal Gambler. Huntington Press. ISBN978-0-929712-40-6.
  14. ^'Comp Hustling'. Casinopedia. Retrieved October 27, 2018.
  15. ^Rubin, Max. Comp City.
  16. ^Rubin, Max. 'How to Get a Dollar in Casino Comps for Every Dime You Lose Gambling'. Gamblingsitesonline.org.
  17. ^'Casino bonuses'. Retrieved 2014-03-07.
  18. ^'No Deposit Bonus'. Retrieved 2019-05-24.

Casino Theo Winners

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