Casino loyalty programs return a portion of your theoretical loss as rewards — points, free play, room offers, and mailers. The question is whether those rewards are worth the mathematical cost of generating them.
Our Comps & Loyalty Calculator estimates the net economics of rated casino play. It computes your Theoretical Loss, Average Daily Theoretical (ADT), the nominal and realized value of your rewards, and the break-even house edge at which comps fully offset the cost of playing.
Comps & Loyalty Calculator
Net EVHow to Use the Comps Calculator
- Session Data: Enter your average bet, game speed (hands/spins per hour), duration, and house edge. Use the presets or enter a custom edge.
- Gaming Days: Enter how many days this session spans. The calculator computes ADT (Theo ÷ Days) — the metric casinos use to rate your play.
- Loyalty Rewards:
- Points Rate: Percentage of coin-in returned as points. Typically 0.1–0.5% for slots, 0.05% for video poker.
- Tier Multiplier: Higher tiers earn points faster (2x, 3x, 5x, etc.).
- Theo Rebate: Percentage of your Theo returned through mailers, free play, and loss-back offers. Typically 10–30%.
- Comp Realization: Not all comps are worth face value. Free play ≈ 90–100% cash-equivalent. Food and room comps ≈ 50–80%. Adjust this slider to reflect what the rewards are actually worth to you.
- Review: The calculator shows Theo, ADT, nominal and realized comp value, net EV, hourly cost, and the break-even house edge.
Understanding the Numbers
Theoretical Loss (Theo)
The amount the casino expects to win from your play: `Bet × Decisions/Hour × Hours × House Edge`. This is what the casino bases your rewards on — not your actual session result.
Average Daily Theoretical (ADT)
Theo divided by gaming days. This is your “score” in the casino’s player database. A $500 Theo over 2 days = $250 ADT. The same $500 Theo over 5 days = $100 ADT. Higher ADT earns better offers.
Important: visiting a casino for a quick redemption without meaningful play dilutes your ADT and can reduce future offer quality.
Nominal vs Realized Comp Value
Nominal value is what the casino credits you. Realized value is what it is actually worth to you. A $200 room comp is worth $200 only if you would have paid that amount anyway. If you would have stayed at a $120 hotel, the realized value is closer to $120. The calculator lets you discount nominal value through the realization slider.
Break-Even House Edge
The calculator shows the maximum house edge at which your realized comps exactly offset your Theo — making your net cost zero. If this number is 1.5% and you play a 0.5% edge game, comps more than cover the cost. If you play an 8% edge slot, comps offset only a fraction of the loss.
Worked Examples
Example 1: Slot Player (High Theo)
$5/spin, 500 spins/hr, 4 hours, 8% edge.
- Coin-in: $10,000
- Theo: $800
- Comps (0.2% rate, 1x tier, 20% rebate, 75% realization): Points $15 + Rebate $160 = $175 nominal → $131 realized
- Net EV: −$669. Comps soften the blow but do not come close to covering an 8% edge.
Example 2: Video Poker AP (Potential +EV)
$5/hand, 400 hands/hr, 4 hours, 0.46% edge (9/6 Jacks or Better), 5x tier multiplier.
- Coin-in: $8,000
- Theo: $36.80
- Comps (0.15% rate, 5x tier, 25% rebate, 90% realization): Points $60 + Rebate $9.20 = $69.20 nominal → $62 realized
- Net EV: +$25. The low edge plus high tier multiplier creates a net positive situation — comps exceed Theo.
- Caveat: This assumes you find and hold these specific conditions. Actual programs vary, and variance in a 1,600-hand session is still large.
The Golden Rule of Comps
Comps are a byproduct of play, not a goal. Playing a high-edge game longer than planned to “earn” a free room that costs $150 on a booking site — while generating $500+ in Theo — is not a good trade.
The calculator helps you see the full picture: what you pay in Theo, what you get back in rewards, and whether the net economics make sense for your game and tier level. In most cases, low-edge games with high tier multipliers produce the best comp-to-cost ratio.
Frequently Asked Questions
What is “Theo” in a casino?
Theoretical Loss: Bet × Decisions/Hr × Hours × House Edge. Casinos base rewards on Theo, not actual results.
What is ADT?
Average Daily Theoretical — Theo ÷ gaming days. Higher ADT = better offers. Low-play visits dilute your ADT.
Can comps make a negative game positive?
Possible with low-edge games and high tier multipliers. The break-even edge shows the threshold. But nominal comp value ≠ realized value — discount accordingly.
What is comp realization?
The practical cash-equivalent of your comps. Free play ≈ 90-100%. Food/rooms ≈ 50-80%. Adjusting this gives a more honest net EV.
How do I find my points rate?
Check the player’s club. Usually expressed as coin-in per point. Convert to % of coin-in for the calculator.
What is break-even house edge?
The max edge where realized comps = Theo. Below this edge, you net positive after rewards. Above it, comps only partially offset the cost.