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***GambLux EDITOR ARTICLES*** |
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Understanding casino comps
[Friday, August 18, 2006]
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Whenever you go gambling online - and offline too - you're bound to come across the word 'comps'. This is shorthand for 'complementary offers' the free incentives that casinos give away to attract new players and encourage loyalty among existing players.
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At the center of the whole process is the fact that casinos make their money because they have a house edge on all games. The more you play, the more you are likely to lose in the long run. How do casinos get you to play longer?
One way is to offer you entertaining games and large cash prizes. Another way is to offer you rewards for your play. Each time you gamble at an online casino, its system tracks the amount of bets you make including their size and translates it to a corresponding number of comp points.
So $10 bet may be worth 1 Comp point and 100 comp points will be worth $1, or possibly more. Once you achieve VIP status (meaning that you are gambling much larger amounts of money), the casino will improve your comp points calculation. For example, you may be able to convert 50 comp points into $1. Being a VIP will entitle you to more generous incentives and faster payouts. However the other side of the coin is that you are likely to be losing much greater sums of money each time.
All the comp points that you collect can be exchanged for bonus chips at a certain rate of exchange or cashed out.
If you decide to gamble offline, in a real casino, then comps take on a whole new meaning. The top benefits are known as Full RFB Room, Food, Beverage. When you stay at the same hotel where the casino is situated, you are pampered with all these free extras. In fact, the casino management will bend over backwards to ensure that you have a good time. On the lower end of the scale, the smaller players are offered a free drink or meal.
There's no point in being envious of your fellow gambler at the next table who enjoys full RFB compared to your free drink because he's paying for these benefits in terms of his potential losses.
The best advice to give regarding casino comps is this: treat them as a nice extra but don't count on them. Have fun playing your games and take whatever comps come your way. Remember that casinos pay the biggest comps to the people who pay them the largest amounts of cash.
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