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VIP Casino Reward Scheme

Discussion in 'Online Casinos' started by mitch, Nov 8, 2004.

    Nov 8, 2004
  1. mitch

    mitch Dormant account

    Occupation:
    Secret
    Location:
    UK
    VIP Casino have a monthly reward scheme were they comp you 10% of all losses in a month or 1% of all winnings. There are no wagering requirements on these bonuses.

    If you were to make one bet of say $1000 each month you would either win $1010 or lose $900. If this bet were made on a low house edge game such as blackjack this seems to give the player a very considerable advantage.

    I am thinking of trying this approach but would like to know whether any other members have tried this and what reaction they got from the casino if any.

    Any thoughts or opinions out there?

    Mitch

    "win dont gamble"
     
  2. Nov 9, 2004
  3. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    You probably don't want MY opinion! But I'll give it anyway:-

    ONE bet of $1000 each month? ..... Hmmmmm....

    You're fricking CRAZY!!! :lolup:

    I can't imagine how you'd feel if the dealer pulled a Blackjack 4 months in a row! :D

    (Why don't you just try gambling instead - it's MUCH more fun! ;) )
     
    Last edited: Nov 9, 2004
  4. Nov 9, 2004
  5. sw2003

    sw2003 Dormant account

    Location:
    somewhere :)
    Dealer only needs to win 4 months in a row, no need for BJ! :)
     
  6. Nov 9, 2004
  7. DeMango

    DeMango Dormant account

    Occupation:
    Postal Clerk, Residential Contractor
    Location:
    Englewood, FL USA
    Even though BJ has a low house edge you only win 47.5% of hands not including pushes. Compare to Craps 49.3%, Bacarrat Banker 50.68% or Player 49.32% Just a few stats to stir the pot!
     
  8. Nov 9, 2004
  9. ayedub

    ayedub Dormant account

    Location:
    kelowna
    Hmm But..

    Mathematically speaking, wouldn't you be best off with a game where you lose the most percent of the time (discounting house edge), since you're getting the most money back when you lose.. So a bet that wins 1-in-100, and pays off 99-1 would yield a 10.9% player edge, whereas a 50-50 bet that pays 1-1 only yields a 5.5% player advatange...

    Anyways, I'm just saying I'd play blackjack.
     
  10. Nov 9, 2004
  11. dickens1298

    dickens1298 Dormant account

    Location:
    LA, California
    Let's assume a house advantage of 3%. You made 100 $1000 bets, losing 53 of them, and winning 47 of them (yes, I realize the percentages may be a tad off..but bear with me):

    Your net losses = 53,000 - 5,300 = 47,700

    Your net wins = 47,000 + 470 = 47,470

    Net loss = 230

    Why not just save yourself the time and the opportunity cost of the money and give them $230? ;)
     
  12. Nov 9, 2004
  13. GrandMaster

    GrandMaster Ueber Meister CAG

    Occupation:
    Mathematician by day, online gambler by night.
    Location:
    UK
    Put all your money on a single number in roulette and you will have 7.1% advantage. You just need a strong stomach and a big bankroll.
     
  14. Nov 9, 2004
  15. GrandMaster

    GrandMaster Ueber Meister CAG

    Occupation:
    Mathematician by day, online gambler by night.
    Location:
    UK
    Indeed, your percentages a tad off, that's a game with 6% house edge.
     
  16. Nov 9, 2004
  17. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    Yeah, but 100 bets at 1 a month would take 8.33 years - so at least he'd be getting a LOT of entertainment for his 230 bucks! :cool:
     
  18. Nov 9, 2004
  19. dickens1298

    dickens1298 Dormant account

    Location:
    LA, California
    Mea culpa, but you get my meaning....
     
  20. Nov 9, 2004
  21. mitch

    mitch Dormant account

    Occupation:
    Secret
    Location:
    UK
    Ayedub

    I think you are right that games with a higher lose percentage but with a lower house edge pay better in this system.

    Blackjack fits this system better than say craps or roulette due to the losses being nearly covered by your occasional player blackjack thereby producing a much lower house edge overall.

    Using some rough stats over 100 plays using this system, ignoring pushes and assuming absolute probability, would produce losses of about $47900 and wins of $53300 a profit of $5400. This would be about $60 a month for hardly any effort. Not bad. But I suppose you could always increase the size of your bet if this wasn't enough.

    Mitch
     
  22. Nov 9, 2004
  23. mitch

    mitch Dormant account

    Occupation:
    Secret
    Location:
    UK
    KasinoKing

    Oh by the way KK I do value your opinion. From your posts I see that you are a winner not really the out and out gambler you try and portray.

    You have posted that you have won nearly every month for about three years. GREAT.

    However unless you are the luckiest gambler alive the basis of your success is due to bonuses. This is no surprise to me as I also judge my success on a monthly wagering period and have never lost money in any month.

    Of course bonuses are the reason I am able to do this even though my winnings far exceed the total bonuses collected.

    I suspect that a progression system lies at the heart of your "method" I know it does with mine. Bonuses and progression go together like apple pie and cream when you know what you are doing.

    Mitch

    "win don't gamble"
     
  24. Nov 11, 2004
  25. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    Mitch,

    You've read me PERFECTLY!
    I do play a progressive game on all card games, always start from minimum bets, stop & switch games when I win or lose a certain amount.
    And you're right - when I win it's a bonus! ;)

    I went 26 consecutive months without loss before my first hiccup, if you've beaten that, then all I can say is AWESOME! :notworthy

    Keep up the good work mate! :thumbsup:
    KK
     
    Last edited: Nov 11, 2004
  26. Nov 11, 2004
  27. frafi

    frafi Full Member

    Occupation:
    typesetter
    Location:
    Germany
    what system?

    Tell me more about your system. Is it a positive or negative progression?
    Is there a name for it? Which steps are involved?
     
  28. Nov 11, 2004
  29. mitch

    mitch Dormant account

    Occupation:
    Secret
    Location:
    UK

    KK you have got me beat there mate. RESPECT. :notworthy

    However I am closing in on your record. I'll let you know if I beat it!


    frafi

    Serious advantage players are unlikely to want to set out a detailed description of everything they do so others can just copy. They would soon lose their "advantage" if they did so.

    In any event it's not rocket science and if you think deeply around the subject you will come up with something that suits you. Just remember there are limits to how much you are likely to win. You won't become rich overnight unless you are lucky and if you consider yourself as a person blessed with luck
    just gamble you'll win more money

    Main thing you have got to have is willpower as I am sure KK will confirm.

    Mitch

    "win don't gamble"
     
  30. Nov 11, 2004
  31. KasinoKing

    KasinoKing WebMeister & Slotaholic.. CAG MM PABnonaccred webmeister

    Occupation:
    House-Husband and Casino Advisor
    Location:
    Bexhill on sea, England
    Hey - I'm checking my PC room for spy cameras! :rolleyes:
    Nail on the head again Mitch! We must be two of a kind.

    Will power is indeed they key. My 3 rules:-
    1) Know when to stop losing or winning, and switch to a different game or casino.
    2) Never push your luck, or chase a loss.
    3) If you're not enjoying it - stop.
    Simple when you get the hang of it!

    Certainly not get rich quick, but certainly is get richer slowly!
    I'm not going to give away ALL my secrets, but my average over last 34 months was:
    'Over $200 but under $500' profit per month (Including the loss months)

    Makes gambling much more fun when you realise you're not playing with money you've had to go out & earn, but with profits you've made having fun in previous months! :D

    KK (Not a rocket scientist!)

    PS: Don't forget to let me know when you start placing your one $1,000 bet per month at VIP - that could put a BIG dent in your chances of matching my record! ;)
     
  32. Nov 11, 2004
  33. mitch

    mitch Dormant account

    Occupation:
    Secret
    Location:
    UK

    Written to the Wiz asking for his opinion on what he thinks of my idea.
    I know it makes sense but it is a bit of kneetrembler system, not good for the old blood pressure! :eek:

    Glad you agreed on the willpower thing.

    Today I experienced a classic example of how hard it is to resist the inner demon called pride that lurks within us all.

    Went into one casino had a session that was very close to probability (casino slightly lucky) ended up winning $140 including $100 bonus.

    Went into a new casino which just wiped me out with a fantastic run of luck
    (lost the first 12 bets straight off for starters). Ended up losing my entire $150 deposit.

    Emotion runs high of course ' how dare this mere casino beat me I'm unbeatable'
    I am sure most people on this forum experience this pretty regularly.

    Felt the urge to deposit a much bigger sum and show this upstart casino who is really boss.

    I then put my brain into first gear and resist the temptation. 1-0 to willpower and the end of the only realistic chance internet casinos have got of beating me overall.

    Sorry to tell you KK that I am up $1900 in November so far so it looks like another month onto my record. :)

    Mitch

    "win don't gamble"
     
  34. Nov 11, 2004
  35. Vesuvio

    Vesuvio Dormant account

    Location:
    UK
    Seems to be some unnecessary mistification on this thread.

    If you play low house edge games with decent bonuses you'll make money. There's no need to use any progressive system unless you're bored as it won't increase the expected profit (ok - a positive progression might if on-line casinos are rigged to be overly streaky but still give the right percentage return).

    It's actually pretty difficult to lose in any given month if you're doing this & don't go on tilt. Haven't got close to it yet, but I've only been going 8 months so far, so the record's safe :)
     
  36. Nov 11, 2004
  37. mitch

    mitch Dormant account

    Occupation:
    Secret
    Location:
    UK
     
    Last edited: Nov 11, 2004
  38. Nov 11, 2004
  39. sw2003

    sw2003 Dormant account

    Location:
    somewhere :)
     
    Last edited: Nov 11, 2004

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