| Problem Promotions | |
Part 1: Profitable for Players
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Everyone loves a good casino promotion when they are run right. The casinos like them because they bring players in the door and the players like them because they feel that they are getting a little something extra.
Not all promotions are created equal and not all of them work out as planned. Sometimes a promotion will backfire as the players discover the promotion has turned the negative house edge into a positive expectation for the player. This usually happens when the casino offers a special pay off on certain casino games.
One example took place in 1996 when a small casino in Las Vegas decided it would give the players a free ride token for all natural blackjacks. This token could be turned in when a player felt he had a bad hand and he would not lose his bet. If the dealer had an ace showing you could use the free ride token before the dealer looked to see if they had blackjack. This amounted to early surrender without losing your bet. The players quickly figured out that they had about one and a half percent advantage over the casino. Word spread and within a few hours every seat at every table was filled with players betting $100 per hand. This casino was used to players betting a couple dollars per hand not black chips. The casino took a beating. Needless to say the promotion only lasted about eight hours.
Another failed promotion happened when a local casino announced that it would pay video poker players double for every four of a kind. Several hours later as they were shocked by the amount of money they were losing the promotion came to an abrupt halt. These types of promotions can be very costly for a casino. That's why many of the casinos opt for a safer type of promotion like a drawing.
The drawing is popular with the casinos because they know exactly what it will cost them. Since the prizes are determined ahead of time it is a fixed cost whether it is a car or a cash prize. The biggest consideration that has to be made is how the players will earn the chances to enter into the drawing. Sometimes the players will earn entries by playing the games. They might earn a ticket for a natural blackjack when playing the table games or a special hand in video poker or other jackpot.
Some casinos will mail entries to members of the slot club hoping to get them in the door the day of the drawing. When you receive an entry in the mail you must evaluate the prize and determine if it is worth your time to travel to the casino
Other casinos may try a more creative approach. Sometimes when they do, something as simple as a drawing can turn into major fiasco. This happened two weeks ago at the world's biggest casino. I was there to witness the Foxwoods Fiasco.
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