Originally Posted by
Dan Druff
First some laughably small offers of like $40 freeplay and cheap (but not free) rooms at the hotel. Then, the next month, the offers increased to about $300 freeplay (and equivalent, such as gift cards) and free hotel stays. Then, the following month, the offers went as high as $500 with hotel stays and some moderate food credit. They hung there for about 6-8 more months (my friend just kept redeeming the offers and never playing) before vanishing. The offers were also frequent -- like there were about 6 per month. Had my friend lived closer to Vegas, they could have cleaned up! Still, they probably reaped about $6k from that $1500 loss, so it was a success story.
This is what is called "working theo." There were affluent AP's playing this game with casinos for quite awhile. I followed it somewhat on the BJ21 forum when I was a member there. Their modus operandi was to go play a casino without staying in the hotel. They would play $5 denom and run about $100,000 in action generally in one day. Their game of choice was one that came in slighty under 99%. They were creating a loser's profile.
Their theoretical loss to run the action was about $1500. Then they would kick back and wait on the freeplay offers to come in. They would get a succession of freeplay offers in the very low four figures. They would go in and run the freeplay without giving anymore action. They would keep doing it until the freeplay offers quit coming.
They did this all around the country.