An Introduction to Comp Points
Casinos offer real rewards to loyal players.
In an effort to draw loyal players, casinos are constantly offering new rewards and special amenities through complimentary gifts, trips, shopping excursions and more. The amenities are awarded to players, who earn them via points. Once players demonstrate they are valuable customers, casinos are quick to offer the rewards. Loyal players are viewed as royalty and are treated as such. Casinos go even further with the high rollers, who are wagering hundreds of dollars. They might receive extravagant gifts like airfare, limousine service or luxury suites.
Many casinos have what they call a players’ reward club where customers are issued plastic cards. The magnetic strip on the cards record the gaming sessions, including amounts and duration. Players are essentially tracked by casino computers and awarded comp points accordingly by inserting their cards into the machines they play. Cards remain in the machine during the players’ entire gaming sessions. Players can see how many points they have after they insert their cards. They will redeem the points for buffets, merchandise, hotel stay or even cash.
Some casinos have slot clubs that require players to seek out an attendant, who will issue the comp points based on qualifying players.
For table games, players also have plastic rewards cards and pit bosses take note of the buy-in amounts, average wagers and duration. A buy-in is the amount players exchange cash for chips.
The basic comp point formula is an expected loss amount plus the player’s time invested, the number of spins or hands per hour, average wager and percentage of the house edge.