Last week I mentioned the new rebate-on-loss promotion at Cannery and Eastside Cannery. The Cannerys have run rebate deals before, always with restrictive rules, but this time it’s more straightforward. The promo reimburses up to $200 in gambling losses on the day you join the players club. If you’re already a member, you’re not eligible, but if you aren’t, it’s the best sign-up bonus going right now.
Here’s how it works: Both out-of-state and local players are eligible, but this one is definitely engineered to appeal to locals. Go to Cannery or Eastside Cannery and sign up for the club. Then find your favorite slot or video poker machine and play away. If you get lucky and win, the money is yours to keep. If you lose, the casino will give you back that money up to a maximum of $200. Sounds like an awesome deal, and it is, but there are some rules.
You don’t get the reimbursement all at once. The rebates are distributed in two “bounce-back” offers sent via email—50 percent in the first week after you play and the rest two weeks after. Both have a seven-day window for redemption. The rebates are distributed in slot free play, which you have to play through once to cash out. Hence, it’s not guaranteed that you’ll get the full amount back, but don’t let that stop you—risking a $20–$30 loss for the upside potential of a $200 free roll is an arrangement you’d take every day if you could.
There’s also a rule that you must have a minimum loss of $20 to qualify for a rebate, but that should be the least of your concerns, because if you’re not losing the entire $200 (or walking away a winner), you’re not taking full advantage of the opportunity. The power in this promotion is all in the free roll for a chance at a big hit. How big is up to you. If you get up to $25 and it feels good, cash out. But I’d look to walk with at least $200.
Here are a few tips on how to play: The optimal route that yields the greatest expected profit is to play at the highest denomination possible until you hit big or bust. But if you want more time on the machines, playing for 50 cents or $1 is okay. If you want a lot of time on the machines, then play lower. But if you get to the point where you have $50 or so left to lose, bump it up to dollars for a shot at a bigger payday if you hit something. If you lose the $200, you’ll have to play the free-play through once to cash it out. Play out the free-play at your normal level.
If you like the promotion, do it again at the second casino. Cannery and Eastside Cannery have separate players clubs, so if you want to, you can do this deal twice.
Anthony Curtis is the publisher of the Las Vegas Advisor and LasVegasAdvisor.com.