Caesars has started its program for exchanging comp points for free play. But you might not want to take advantage of this deal.
Let's say you have 10,000 comp points or Total Rewards points. That's the equivalent of $100 for hotel comps such as meals, tickets, cost of hotel room, even gift shop purchases.
But if you redeem those same points for free play, you get $50 of free play. The formula is 1,000 of comps = $5 of free play.
The gamblers will figure that $5 of free play has a certain "expected return" which is less than $5 on most machines. Some gamblers might hope that the $5 of free play might return a $4,000 royal flush.
Some will argue that using the comp points to buy items in the gift shop and using them for gifts or for personal use would be a more efficient use of the comp points.
And Caesars does offer gas cards and other gift cards for comp points and their trade-in formula can vary.
Choose according to your own desires, but do ask about the various options.