This past July at the annual Host Player Development Conference I presented a session on how hosting players at the tables is different from those in the slots. Following are some highlights from the presentation.
Tables and Slots … Like Dogs and Cats?
- Table game players like to socialize.
- Table game players feel they are different from the slot player (smarter?) and want recognition of their achievements and contributions.
- Many high rollers play at that level as much for the social status as they do for the thrill of the win.
- Table game players, unlike their slot counterparts, play under the illusion of control, control of the game, the outcome, and the environment.
- Table game players are demanding, needy, and want more than they deserve. (Often heard and possibly true, but hey, they’re our players and we love ‘em… right?)
- Slots and tables, it’s the difference between a movie and the theater (the play’s the thing)!
Key Metrics
- Theo – Standard measurement of play involving bet X house edge.
- Actual – Standard measure of value through bet X outcome.
- Trip – Number of playing sessions in a defined period of time.
- Time on Device – Length of play
- Loss Tolerance – A function of length of play, actual loss, and comparisons to bankroll, credit limit, and table limits.
How We Value Table Games Players
- Bet x Decisions = Handle/Turnover
- Handle x House Edge = Total Theo Win
- TTW ➗ # Days Played = ADT
- Bet – Outcome = Actual Win
- Handle – Cash Out = Total Actual Win
Actual Versus Theo
Slot players have no control over the game, and therefore their theo and actual numbers are normally quite close (exceptions would be when they hit a big jackpot or pull their cards).
Table game players play with a skill level makes the spread between actual and theo much, much larger. So, theo – is a good measure of a player’s time on device, betting levels, sales potential. While actual – is a good measure of a player’s loss tolerance, value and profitability (loss versus reinvestment).
Significant Points
- Table game players’ numbers are simply averages and not as accurate as slot numbers due to such factors as human observation and error, game type, and skill level of the player.
- Skill level can be a critical factor in determining a table game player’s value.
- Actual loss is the key metric in determining a table game play’s value and profitability.
- Sales efforts and reinvestment percentages will more often be based on actual values as opposed to theoretical values.
Valuing Table Games Players: Things to Look For
- High actual loss is a good indicator of both loss tolerance and profitability.
- Skill level will often shrink the spread between theo and actual.
- Use everything you can learn about the player in order to value them, including type of game, skill level, bet amounts, time on device, free play amounts, etc.
- Use actual loss as the primary metric when determining reinvestment amounts and sales efforts.
I hope that gives you some good ideas about how to train your hosts on evaluating and hosting table game players of high worth.
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