Casino Industry Rewards, ADT and ITV

06/30/201906/30/20191 Comment

Casino Industry Rewards, ADT and ITV should all go hand in hand. Loyalty Programs needs more than just ADT to decide players comps. ADT, or Average Daily Theoretical, is what drives the casino industry comp system. ADT measures your worth to the casino. With local casinos so close to so many Americans, gambling has never been more popular. But the loyalty system based on ADT needs something more – it needs ITV. We know about casinos and your ADT, but what’s ITV you ask? Read on….

Related Post – Casino Comps and “Average Daily Theoretical”

TravelZork’s Michael Trager recently wrote an article “Why Vegas Casino Loyalty Is Broken.” It looked at what is happening in Las Vegas with casino rewards and casino fees. And previously, in his TwitPic of the Week Monologue (360 Vegas Podcast Episode #282) Mark Wojtowic referred to it as well. Both inspired me. So, I ask you, “what is the casino industry missing in offering a better recreational gambling experience?”

What motivates our recreational Gambling experience?

Intrinsic motivation refers to behavior that is driven by internal rewards. It’s something that arises within the individual because the behavior is naturally satisfying. This contrasts with extrinsic motivation, which involves a behavior to earn external rewards.

ADT is built on extrinsic rewards – comped dining, entertainment and free slot play. The physical casino also offers extrinsic motivation. Sounds, chair comfort, colors and casino design all aid to offer some form of endorphin release. Even the scent of casino air is sometimes artificially enhanced for the gambler’s benefit.

Recreational gambling offers lots of extrinsic rewards. But the gaming industry has forgotten, or chose to disregard, the most important part. The chance of winning and the time spent in the chase is more important than all of that. In other words, the intrinsic incentive of fun in recreational gambling is ceasing to be a factor.

Average Daily Theoretical and Intrinsic Motivation

Average Daily Theoretical is your value to the casino. The math to determine your ADT is based on the above.

ADT (Average Daily Theoretical) is how the casino measures your worth. It considers how much you play, the denomination of your play, and the length of time you play in a day. I suggest it’s time we, the casino guest, measure the casino’s worth by developing a new measurement called IVT (Intrinsic Theoretical Value). It would be a measure of bankroll length, gaming rules, rewards club comparisons and winnings.

Seriously, an ITV sounds crazy, but, it could work. The player would log the following when gambling:

comparing length of bankroll,
gaming rules
awarded comps “over time”
and maybe an ambiance/fun quotient

We then would compare casino value in a vaguely measurable way. Think how cool it would be to visit a casino on the basis of their “ITV.” Casino Industry Rewards, ADT and ITV – are they a future consideration?

Lower slots odds, 6:5 Blackjack, automatic shuffle machines, less odds at the Craps table, and unplayable video poker, have damaged our intrinsic motivation. Give the player less “bells and whistles.” Increase the hope of winning and the length of time our bankroll lasts. The ever-present greed in the gambling industry is causing a feeling of “why bother?” This is your recreational gambling ITV taking a hit.

las Vegas data misunderstood?

Resort Fees, Low Gambling Value Increses in Las Vegas & the rest of the U.S.

In Las Vegas, gambling CEO’s seem puzzled by the dip in gambling revenue. But most months have a higher visitor stat. One main reason is that the total gambling bankroll is shackled. Parking fees, resort fees, CSN fees, higher food and drink prices, and less player comps are all the culprits. Add a bigger house edge with game rules and pay out percentages like 6:5 BJ and 7/5 video poker and “why bother?” That response is an internal feeling of hopelessness in the experience of gambling, a decreased ITV.

Casino Rewards Clubs are also squeezing the fun out of the experience. Cut backs in comps and rewards, such as in CET’s Total Rewards and Boyd’s B Connected, are changing where we gamble. One example is shortened periods for accruing rewards points . Another is the tightening of casino rewards programs, making it harder to rise in tier level.

Conclusion

IVT will increase with greater hospitality, gambling options, and less “nickel & dining.” CEO’s wouldn’t need to be looking for skill-based games, stadium gaming and sports betting as THE panacea for their misappropriated understanding of getting guests of all ages through the doors.

It’s really so simple. I feel good when my gambling experience lasts longer and is potentially better financially. I will visit more, stay longer, and take in more amenities at the casino property inner motivation has been met.

Binbin

Video Poker Mistakes and Myths

06/24/2019Leave a comment

Video Poker Mistakes and Myths are so prevalent, I hear something interesting every time I’m at the VP Bar.

The VIDEO POKER PLAYer / Gambler

Many views of a gambler paints a bleak, hopeless picture of reckless behavior leading to someone who risks loss or injury in the hope of gain or excitement. Addiction is a major concern, but I prefer to think a true gambler is someone who wagers money on the outcome of games or sporting events with strategy, knowledge, and experience to get the best chance to win by diminishing the house edge.

However, there are those who cling to gut feelings, myths, and false knowledge while whining about losing and casino edge. If you are superstitious, or even a “Little”-stitious, read on…… Remember, for every rule, there might be an exception.

Mistakes

Not Joining the Slot Club – Get over the fact that you think big brother is watching you and can get an extraordinary amount of information from your rewards card – it’s not as much as you think. Also, having your card inserted does not give someone (upstairs in the secret button room) the ability to change whatever it is your playing. So, get credit for your play. Comps playing video poker are hard enough to earn. Use the card, and no, using the slot club card won’t tighten your machine. The exception? – small play or short play sessions. For example, I play without the card when my play might diminish my Average Daily Theoretical. For more info on that, check out ‘“Casino Comps & Your “Average Daily Theoretical”

Playing the Wrong Games – this means a couple of things. First and foremost, it means playing games that you don’t practice. I don’t play “deuces wilds” because i wouldn’t play it close to perfect strategy – but that’s just me because I prefer to lower the house edge by playing only games I know well. Wrong games also includes playing highly volatile games with high variance like Triple Double Bonus or Multi-line Multi-Strike Poker which have slightly different hold cards. It should be said that the vast majority of multi-line games (Triple Play, 5-Play, 100-Play, etc) should be played exactly as the single line version.

A Low Bankroll – Different games with different denominations need different amounts of moolah to play with perfect strategy to give the player a good chance at winning. For more specific information on bankroll, go to the 888Casino and read DETERMINING BANKROLL REQUIREMENTS

Be careful With the Free Stuff

Drinking too much / playing distracted – find the balance between enjoying casino amenities and playing the game.

Not Checking the Pay Table – the pay tables vary depending upon the game, denomination, and casino. Even machines side by side may be different. Look for better paying machines. But remember, just because one game has a better paying pay table doesn’t alone increase your chance of winning, correct strategy is a bigger factor.

Playing on a problem machine / Playing a Machine with “Sticky” Buttons – some machines are just not fun because of malfunctions with buttons or rewards card entry. Bar top machines especially fall into this category.

Not Betting Max Bet – You cant win if you don’t play – and that includes Royal Flushes & Progressive Jackpots. However, maybe you prefer a smaller denomination, or a slower pace. As long as you realize the pay table payback % has been diminished without max play, play what makes you comfy. After all, recreational gambling is for fun, isn’t it? No judgement here.

Video Poker Myths

Following Hunches & Superstitions – here are some of the ones I hear the most:

MYTH – the cards are programmed to win or lose when you press deal. TRUTH – The infamous Random Number Generator (RNG) takes care of the randomness of VP play making the game of video poker a skill game based on the math and probabilities. Check out Video Poker Math at CasinoNewsDaily.com .

The 4 is the kicker.

MYTH – “Kicker” cards, cards that increase a four-of-a-kind, should be kept. TRUTH – yes, but only when the strategy dictates it. For example, when dealt three aces with a kicker like 2,3,4 in Double Double Bonus, only keep three aces. But when playing Triple Double Bonus, you’d keep the kicker. Some think you always go for the high pay combination, but correct strategy is more about keeping you in the game longer.

MYTH – Games that offer big jackpots on four Aces deal fewer four-Ace hands. TRUTH – No. Refer Slot Machines – Myths & The Random Number Generator concerning the “RNG.”

MYTH – When you discard just one card, it’s usually replaced with a card of the same denomination. TRUTH – No. Refer Slot Machines – Myths & The Random Number Generator concerning the “RNG.”

Does a dealt Straight Flush mean the game is “hot?”

MYTH – “Hot” and “Cold” machines / “Streaks” – TRUTH – These are human perceptions over a short period of time. For more info, refer to “RNG” above.

Have you heard These myths?

MYTH – I’ll change games and change my luck” and “The machine is “due” – TRUTH – it doesn’t matter. If the games are the same, including paytable, switch if you want. But, it really doesn’t matter. What matters is that the game, seat, casino area, etc is more desirable to you.

MYTH – Faster is Better – According to this theory, if you can increase your speed to complete one hand every three seconds, forcing the machine to cycle through 20 hands per minute rather than just 10, you’ll work twice as quickly toward the threshold required to trigger big winners. TRUTH – It may get you closer to the “expected” number of hands needed to approach a certain big pay, the “RNG” could bring the wanted pay out with fewer or many more hands than the expected amount.

MYTH– Higher Denomination Machines Pay More. TRUTH – While this may be true with slot machines (typically, higher the denomination, the higher the pay out %), Video Poker machines with the same pay table, whether $,5, $.25 or $5, will have the same expected RTP (Return To Player), also called EV (expected value).

CONCLUSION

Can You Make a Living Through Video Poker? Yes, but it is increasingly harder with every year as casinos lower paytables and eliminate “full pay” video poker. Now, it has to include promotions, multipliers, comps and anything else that can increase the value of grinding play on the very few full pay machines left. It’s tough to do.

So, let’s keep recreational gambling in the area of enjoyment and reality. Embrace the math, not the myth, and have fun.

Binbin