A total return analogy

[olds442jetaway]

I just read with interest Bob Dancer's articles in the Las Vegas Advisor for 2014. In the Jan 14 article Bob mentions how it is getting " tougher and tougher to find an edge" in vp. I think we can all agree on that. Someone else recently mentioned in a post about Bob's article so I decided to check it out. Funny, Bob and I are about the same age and in one of the 2014 articles, he talks about ending those what I call marathon sessions. I have started to do that myself. Anyway, I thought I would do a quick analogy on what my total return should be at Mohegan Sun where 99% of my play currently is.
     To maintain level 3 status there, you currently need 1400 status points in a stated 6 month period. At the rate they credit those status points, you need to cycle through in round numbers 500k in that 6 month cycle.
     If you strictly play 9/6 job, which Mohegan Sun still offers at the quarter level too, your return just based on play should be 99.54%. Most of us know that already. A level 3 vp player such as myself gets about 1200- in various free play, perk points, dining rewards, etc in that 6 month period. In addition, you get 800 choice credits every month which can be spent on rooms, lounge access, buffet admission, and shows or a little free play. They are worth about a dollar per credit at retail so in round numbers about 4800- in the 6 month period. You get no regular points called Momentum Dollars that you can spend playing 9/6 job games.
     If you take 4800, add 1200, and divide by the 500k cycled through you get another 1.2% in supposed value. Again nothing here is to the penny. Adding a 99.54% return for 9/6 job and the 1.2% comp value, brings you to a total return of 100.74%. That of course is in theory and over a long haul. I have also not counted here the occasional free room, nominal gifts, a comp your host may give you once in awhile and a few other minor things.
     The bottom line is that you should be able to do better than 100% playing 9/6 job at Mohegan Sun. Now only if I could match those results!!!!

[wilcoxfun]

I certainly hope that with excellent play you start seeing the results in 2014!

[olds442jetaway]

Thanks...me too...

[BillyJoe]

Good post, Olds. I would add, though, that comps are good for your overall return ONLY if you value them.
 
For example, here in FLA, when they brought Class III VP to the local tribal casino, I played enough to reach their top Elite Level. I was assigned a host, and asked him what I received as an Elite. He said "Free rooms each month - that's it". Since I live here, that has little/no value to me. As a result, I rarely frequent that casino, since there are no VP pay tables that are 100%.

[Tedlark]

  But billyjoe the hotel rooms might have really, really good hot tubs in them.
 
  And olds, as for your post, you nailed it right on the head.

[FloridaPhil]

Interesting post. I agree that comps are only good if you value them.  We're mostly quarter VP players. On an average three day trip to Biloxi, I play about 20 hours and my wife plays about 10.  Occasionally, I'll get ahead and play .50 or $1s for a while.  We are both on the same account. The Beau gives us free flights from Florida, a waterfront room for three days, free drinks and some food.  We go about 3-4 times a year and we love the place.  The odds aren't that great, but we think the comps make it worth the trip.  I play at the Florida Hard Rocks once a week and all I get is $20 a week in free play and a free lunch once in a while.  I had a bunch of points built up before they started their new system, but all you could buy with them was food, gift shop stuff an incredibly overpriced hotel rooms.  I bought a pair of sun glass with my points before they took them away.  Anyone want to buy a nice pair of sunglasses? 

[spxChrome]

<DIV style="MARGIN: 0in 0in 10pt">Interesting post. I agree that comps are only good if you value them.  We're mostly quarter VP players. On an average three day trip to Biloxi, I play about 20 hours and my wife plays about 10.  Occasionally, I'll get ahead and play .50 or $1s for a while.  We are both on the same account. The Beau gives us free flights from Florida, a waterfront room for three days, free drinks and some food.  We go about 3-4 times a year and we love the place.  The odds aren't that great, but we think the comps make it worth the trip.  I play at the Florida Hard Rocks once a week and all I get is $20 a week in free play and a free lunch once in a while.  I had a bunch of points built up before they started their new system, but all you could buy with them was food, gift shop stuff an incredibly overpriced hotel rooms.  I bought a pair of sun glass with my points before they took them away.  Anyone want to buy a nice pair of sunglasses? 

That sounds about right the casino I go to 2x a week gives me $20 in Free Play when I cycle through about 6-8,000 hands a trip. I go to LA for one 3 hour visit to the La'Berge and they send me $300 free play 3 days later

[FloridaPhil]

What's realy interesting is that the Hard Rock seems to send me free play only when I win and not when I lose.  I won $5K a couple of weeks ago and they sent me $80 in free play.  The last two weeks have been really dry and I haven't had any free play offers. 

[spxChrome]

They want you to bring that $$$ back. When they you loose they know you will be back under your own power

[BillyJoe]

What's realy interesting is that the Hard Rock seems to send me free play only when I win and not when I lose.  I won $5K a couple of weeks ago and they sent me $80 in free play.  The last two weeks have been really dry and I haven't had any free play offers. 
Phil, I thought the new 'program' at Hard Rock looks at TOTAL PLAY, and then awards comeback FP accordingly. Maybe when you won your $5k, you played longer with more hands than the times when you lost money.