"I would like to hear from someone, ANYONE, who actually lost the initial money necessary to claim a loss rebate, and then used the loss rebate to have an overall profit. I am sure it's possible and I'd like to get the report."

I have.

A local casino was offering $400 rebate for new players. Rebate was issued as FP 6-8 weeks later. I signed up and started with a $400 tito. Played $1VP and $1-$5 slots. Nothing much hit and when the $400 was gone I left.

When the FP hit my account, I went back and sat down at a .25 Super Triple Play machine intending to run the FP through one time. I managed quad aces for $200 and another quad for $125. Those, along with all the smaller wins totaled $760. I cashed out and went home with a $260 profit on the endeavor.


I also did the well-publized Plaza $500 rebate. Losses up to $500 on the day you signed up for a players card would be rebated over the next two days as FP. There were restrictions on which machines the FP could be used. Mostly, the best VP machines were excluded.

Starting with $500, playing $1 9/6 DDB, a fair number of quads hit - bringing my credits to nearly $1000. Eventually my luck went sour and I cashed out at $700 - a $200 profit. So on this one I quit while ahead. I might have kept going, but getting back and forth 2 more times from the Strip to the Plaza was going to be a pain in the ass.

IMO, loss rebated are as close to a free-roll you are going to get.