Results 1 to 7 of 7

Thread: Free play or bonus offer

  1. #1
    In another thread I wrote about how the Caesars Entertainment properties are now giving players a choice -- free play or the same dollar amount in a gift card to a store, company, etc.

    An example: Take $200 of Free Play or a $200 gift card to Macy's?

    If you had to choose between free play or a gift card to a store where you do shop (it makes little sense taking a gift card to a store where you don't shop), at what dollar value do you take the free play and at what dollar value do you take the gift card?

    Again, back to my example:

    Given a choice between a $200 gift card to Macy's or $200 of free play, I would take the gift card. Why? Because there is not enough "free play" to give me a chance to get more in winnings than what the pat $200 gift card gives me.

    But---

    Given a choice between a $10,000 gift card or $10,000 of free play, I would take the free play. Why? Well, first of all I don't think I could spend $10,000 on anything except the down payment on a new car or a Rolex and Macy's carries neither. But more importantly, the $10,000 of free play gives me a chance to hit something big at video poker that might actually put more than $10,000 in my pocket.

    What would you do?

  2. #2
    I take the free play. At those stores, the gift cards get you something that has a 100% markup. So $200 gets you something worth $100 without the retail markup. The free play gives me 90-some-% of the actual value, which I can pocket and use on something I can track down with almost no markup.

  3. #3
    I take the freeplay too. I'm sure Alan's like me--we had a house full (and jewelry box full) of over-priced classy junk from all the free shopping sprees I've been given over the years that in my case, ended up in my children's' closets or in the trash. Freeplay means cash of some unknown amount if playing video poker. I can always use cash.

    I think Alan has this minor dilemma because of all the forum emphasis that's placed on percentages value etc. by the math people who misleadingly believe adding up tenths of a per cent here & there regardless of what type of value it is, is the end-all. The fact is, to everybody, 50 bucks is worth a helluva lot more to them than a $200 Cuisinart or a fancy piece of luggage and designer watch.
    Last edited by Rob.Singer; 01-13-2012 at 05:17 PM.

  4. #4
    That leads me to comment on one of the Danver columns where he's estimating value of cruises to add into his calculations. I have a hard time assigning a value of much more than 35-40% to a cruise supposedly "valued" at such-and-such. Cruises are heavily discounted at the bitter end, and can be gotten for about a third of the advertised cost. So Dancer's assignations of value are bloated.

  5. #5
    What if the gift card in my example was a prepaid credit card for gas or just a prepaid Visa card or Amex card?

  6. #6
    Then it's a slight lean to the prepaid gas card, figuring gas isn't going to be discounted much. Probably a very slight lean to the other prepaid card, too, since anything I buy with it is likely to be heavily discounted, and I'm a patient guy with gift cards.

    Good response-question, Alan. You nailed it.

  7. #7
    I like the prepaid VISA or AMEX offers because I've always used those to get things I'd normally get with my own credit cards such as gas, groceries, dining out, paying my cell phone bill, etc. If it's freeplay or a giftcard, I'll choose the card every time.

    I've written column after column over the years on how the other famous names have always over-valued their gifts and comps because they HAD to over-value them in order to create a "winning" year. Just like all the vp math people do.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •