Originally Posted by redietz View Post
I value free play at whatever the amount was in cash after it was played through (once). So I value it after the fact of its use. I don't value free-play-in-waiting since a casino could change its slot program tomorrow or close its doors.
This isn't really the correct way to figure the value, not that it really matters. What you are describing is the actual win....which you find out after the fact. The value is the ev, or expected value, which you can determine before you play. For example $100 free play played through a full pay video poker, has Ev of $99.65 or whatever it is.