Question re Promo Chip Tourneys

[sabrejack]

I'm reposting this thought from another post I made to seek feedback:

When a tourney pays in promo chips, what is best method to maximize cash out if you win something? i.e. Although by executing perfect basic strategy play one can theoretically cut the house advantage down to about 1/2% or so depending on exact rules, that is a long run advantage statistic. In the flux that could occur before the long run is reached, one could easily do considerably more poorly than attaining that 99.5% return on bets made. This could result in a hard fought tourney win that is paid in promo chips being worth considerably less if negative flux comes into play. Conversely, one could also do better due to positive or favorable flux, parlaying those promo chips into a larger fortune than that received originally.

Anyone have thoughts on how to handle tourneys that pay this way?

 

[Phil Dunaway]

Promo Chips

Sabre, I don't know if this is the best way to capitalize on promo chips,however,I have used it to at least get 50% of the chips returned in live chips.I just take the promo chips to the bacarrat table & bet the same amount on banker-player.You are guaranteed a 50% return.This method is effective when the house takes the promo chip,win or lose.The house figures that whatever your promo chip win,they are going to get at least 50% of them back without you winning.Now I know you hate to give up something you have won,however,it is at least a 50% return.If you play the chips heads up against the house,there is always a chance you may win more than 50%,but it generally does not happen.Best of Luck, Luxor

 

[B Jay Cobbson]

Sabre, I don't know if this is the best way to capitalize on promo chips,however,I have used it to at least get 50% of the chips returned in live chips.I just take the promo chips to the bacarrat table & bet the same amount on banker-player.You are guaranteed a 50% return.This method is effective when the house takes the promo chip,win or lose.The house figures that whatever your promo chip win,they are going to get at least 50% of them back without you winning.Now I know you hate to give up something you have won,however,it is at least a 50% return.If you play the chips heads up against the house,there is always a chance you may win more than 50%,but it generally does not happen.Best of Luck, Luxor

In baccarat, you will still be charged the 5% commission when bank wins, so that you will, in effect, receive a few bucks less than the 50%. Also, i am curious as to how long the casino will permit, what is in effect the "doey don't" in craps. casinos are adverse to chip washing, even if done by two players playing opposite sides of a bet in a two-way game such as craps or baccarat"

bjc