Of the many ways casinos attempt to drum up new business, among the juiciest for players are loss rebates. A loss rebate allows you to gamble until you lose a specified amount with a guarantee of getting that money back.
The main problem with loss-rebate offers is, they’re so enticing, they usually don’t last long. For example, in the past month $100-rebate deals have been sporadic at such spots as SLS and Dean’s Place bar. One that’s definitely ongoing at press time is at Cannery and Eastside Cannery.
The Cannery’s Great Rebate returns up to $500 in losses, which is the highest I’ve seen in Las Vegas, with the exception of the Riviera’s $1,000 offer a couple of years ago. This means you can gamble (machines or tables) virtually risk-free until you lose up to $500, since you get it back in free play. You have to play the free play through one time, so it’s possible to lose a little (the expected loss is less than $10). The upside, of course, is you could get lucky and come out ahead—way ahead.
The Cannery rebate is for new members only, so if you’ve already joined the C.A.N. Club, you aren’t eligible. There are no other exclusionary clauses, but here are a few rules/procedures to be aware of, as well as some advice:
➜ Make sure you’re ready to play on the day you sign up, as the deal applies to losses incurred on that day only.
➜ Your result will be tracked by your players card, so make sure that it’s properly inserted when you play a machine or that you hand it to a pit manager (who will rate you) if you’re playing a table game.
➜ You have to play for at least 20 minutes and lose a minimum of $20, but that shouldn’t be a problem. The real power in this offer is the free roll, so if you can, play until you either walk away with a big win or lose the whole $500. Let’s say you hit a royal flush or even a few four-of-a-kinds. Fantastic. That’s real money that’s yours to keep.
➜ Once you hit the loss limit, stop and take your card back to the club booth to verify that everything was recorded. Within 10 days, you’ll be mailed two free-play vouchers, each worth 50 percent of your loss. A negative here is that you’ll have to survive a couple of weeks without the money. If that’s a problem, play to a lower loss limit.
➜ If you’re normally a 25-cent player, this is the perfect opportunity to bump up a level or two. First you’ll get the buzz of playing at 50 cents or $1. More important, if you hit, your win is multiplied.
To repeat, though: These deals tend to disappear quickly. So get on it.
Anthony Curtis is the publisher of the Las Vegas Advisor.