Stupid loss rebates.

[billryan]

This is actually the third time something like this has happened. I join a new players club that offers $100 in free play if you lose $100 in the first 24 hours. I play a high volatility slot figuring I either get a bonus round and cash out big or lose the whole thing pretty quickly. It's $2.70 a spin. Rather quickly, I'm down $90 and am only a few spins away from losing the whole hundred when disaster strikes . I win $72 and have to start the process over. Every time I get down about 80-90 dollars, I hit for $50-60 and am back in the same position. Almost an hour goes by and I finally hit the bonus. At this point I'm down bout $75.
Bonus kicks in and its nothing special. I think I won $85 so I'm up a few bucks. I called it a day.

[FloridaPhil]

Why didn't you bet the whole hundred on one hand? If you won something, you could walk. If not, you would collect your bonus. Perhaps I don't understand the bonus? We don't have those where I play.

[FAA]

ROTF! Can't lose for winning, no matter the spinning.

[Vman96]

Why didn't you bet the whole hundred on one hand? If you won something, you could walk. If not, you would collect your bonus. Perhaps I don't understand the bonus? We don't have those where I play.

Generally you have the right idea. It's often better to just bet big and either lose it and get the rebate, or hopefully win big. However, if you can get a good amount of coin-in with the loss rebate, they may also send normal mailers on top of it.

I milked a st. louis loss rebate promo for a couple of months before they cut me off since they gave me decent FP after the loss rebate.

[FloridaPhil]

Loss rebates are promotions I have no personal experience with. The closest we get to this is free play. Cash back would really interest me. Much better than ice tea glasses and T shirts. There was a time when we could turn our comp points into free play. I haven't seen that promo around here in a long time.

[Carcounter]

The Revel loss rebate promo was the least thought out promo I've ever seen. Up to 100k in rebates. They pulled it quickly after they realized what a disaster it was.

[olds442jetaway]

The closest thing to this I have seen was down in Aruba. The wife and I have been there several times. We stayed at the same hotel on palm coast and had the same host for the casino in the hotel. We mostly played nickel vp. Every trip the host said come see me in the morning before you board the shuttle for the airport to return home. Every time she handed me hundred dollar bills to reimburse us for 100 percent of our losses for the trip. Each rime it was between 400 and 800 bucks. Who could ask for more than that!

[Carcounter]

I had planned on investing 20k on the Revel loss promo. Figured if I lost it all, I would get my $ 1,000 a week rebate for 20 weeks. I live an hour away and could always get down once a week. Never got the chance as they pulled it right away. Was probably going to take a shot at the $5.00 9/6 JOB they had and if I lost it all, use my weekly rebate of 1k on $ 1.00 9/6 JOB. Figured it was a safe way to go.

[olds442jetaway]

It never ceases to amaze me how dumb some of the ultra highly paid executives are that run casinos. They can’t seethe forest for the trees so many times.

[billryan]

It never ceases to amaze me how dumb some of the ultra highly paid executives are that run casinos. They can’t seethe forest for the trees so many times.

I think we should applaud their genius and encourage more promos like that. Let them watch that kid carving his initials in the tree while we burn down the forest.