Comps
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This topic is pretty restrictive, but Fred Renzy has written about this site in his gambling column in the Daily Herald. That paper is widely read all over the Chicago suburbs and some of the readers may lurk here or even have registered. If so one may be able to answer this question.
I go to Vagas a couple times a year, but play mainly at the Crown Victoria casino in Elgin. Thats in the Chicago market. I play Renzey's A-10 front count at the $10 tables. Don't know exactly what my average bet is but think it is $15 to $18. I go there 2 or 3 times a week and play about 2 hours a session. About 5 to 6 hours a week. What I would like to know is what other people playing at Victoria who bet about the same average bet get in comps for the time you play.
In my case it is usually about 1300 or 1400 points an hour. (1000 points = $1.00) This is cash back or you can use them for meals. (lunch $6.99 dinner $9.99) They also give an equal # of meal comps in addition to the cash back comps. These can only be used for meals or in the gift shop. They also mail me coupons for 4000 points. ($4.00) per week. They can only be redeemed Monday through Thuresday. My wife also playes BS blackjack at the $10 table. Flat betting. She only gets about half as many points for her play and only 2000 points($2.00) in coupons mailed to her. She is not a happy camper about that.
Still between the two of us we get about $1000 in cash back and about $600 in meal comps. They also give us a senior citizen discount. So they only deduct $6.00 from our comps for lunch. We keep detailed records and we lose about $1800 to $2000 a year. When we subtract the $1600 in comps it means we are actually losing about $200 to $400 a year. A lot cheaper than golf. Before Illinois raised the gambleing tax earlier this year we were getting a free buffet breakfast brunch every Sunday morning. That put us ahead of the house. But alas no more. They stopped the free Sunday breakfast brunch with the increase in taxes.
If anyone who plays at the Grand Victoria reads this please tell me what your experence with comps at the Victoria is. Don't idenrify yourself in your post here of course. You will have to register here to post, but that is easy.
Thanks,
Charles -
Since I don't smoke at home, when I need a cigarette I sometimes go to Grand Victoria, but I have to admit that I've never really kept track of their comp policy. I've eaten at Buckinghams twice though and they picked up the check. Excellent food and service- try it if you haven't. Coincidentally, on that trip I asked at the players club desk what I had accumulated and then went to the lower level and picked up $700 in cash. They wanted my ss#, so I assume they report it.
Just got back from L.V. last night and I'll post a trip report later on that thread. As always, though it was a great time. Sorry I can't add anything specific to your GV question. -
Larz,
Thanks for your reply. $700 in cash back means you had 700000 points. Thats is pretty heavy action if it was in a year's time. Was it all at the blackjack tables? I dought that the $700 was reported to the IRS. They make you show ID to collect any cash back but don't give you the form that says they are reporting the amount to the IRS. If you collect winnings over a certain amount (think it is $1199) them it is reported to the IRS, and you are given a receipt saying so.
Charles -
If the $700 was from comps and not winnings, the IRS will probably be notified of it, and you will likely receive a 1099 from the casino for the $700.
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Just came across this article
http://grochowski.casinocitytimes.com/articles/7541.html
Thought it might be helpful, others about Chicago are to follow. -
No, it covers more than a year, so I guess the points carry over. I've been going there since it first opened, whenver that was. When they told me how much I had coming my first thought was that I should have checked sooner but on second thought, I realized how nice it was to get that fat payday. Now I wish I hadn't collected it at all- it could be my 401K!
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Larz,
Ask them at the Players Club desk either in the pavillian or downstairs if it is reported to the IRS. If they did not give you a 1099 I doubt if it is reported. I never let that much build up in my account. Usually take it out when it gets to about $100. I've never gotten a 1099. At my level of play I seldem get big winning's on one day. One day about 3 years ago I won $1050, but cashed the chips out over 2 days.
Charles -
tuffy88 said:Larz,
Ask them at the Players Club desk either in the pavillian or downstairs if it is reported to the IRS. If they did not give you a 1099 I doubt if it is reported. I never let that much build up in my account. Usually take it out when it gets to about $100. I've never gotten a 1099. At my level of play I seldem get big winning's on one day. One day about 3 years ago I won $1050, but cashed the chips out over 2 days.
Charles
They wouldn't give you a 1099 on the spot, they'd collect your SSN, name and address and mail it to you at yearend. I believe the required cutoff is $600 for sending a 1099, so if you've stayed under $600 per year in comps, you probably didn't get one. I think the $700 automatically kicked Larz into the 1099 range. I'm assuming they consider the $700 to be income to you and not gambling winnings.
You are right that they should be able to tell you if you can expect a 1099 at yearend. I could be wrong that he should expect one, but if they collected his SSN, I think the odds are pretty good he should expect it (I'm assuming they already have his address). They shouldn't need a SSN to track you for comps. -
ok, i have a question about comps.
lets say i buy in at a table and get rated.
things dont go well, so i'm out of there after 5-7 hands.
i go to the cage, get cash. and go to another table. give them my cash and give them my players card.
is the pit boss going to do anything for me? (if he saw me at the previous table, etc)
especially if its the same pit boss that rated me at table #1? -
bill: Most pit bosses won't immediately record your level of play. They normally wait 10-20 minutes to see if you are going to stay in their area. If you plan to change tables but stay in the same pit, just tell the pit boss and he will keep your record active, or tell the next pit boss that you just left another area... sometimes this will give you full credit for time when you weren't even playing.
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thanks Walter, that makes sense.
and Walter. my wife and I used your progression this past weekend.
thanks.... my wife is a fan. :)
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