From the course: The Data Science of Gaming and Fantasy Sports

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Stay and eat for free by earning comps

Stay and eat for free by earning comps

From the course: The Data Science of Gaming and Fantasy Sports

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Stay and eat for free by earning comps

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- [Instructor] One of the best ways for casinos to get people to show up and perhaps play their games is to offer rooms, meals, and other things for free or at a reduced price. In this movie, I will talk about comps and how casinos figure out how much to offer you. Comps is short for complimentaries. The idea is that they are given to players in exchange for play as tracked by a player card. And more play means higher rewards, although there are some caveats to that that I'll cover later in this movie. Recently, casinos have taken on customer lifetime value as a means for determining which comps to offer to which players. You'll find the same types of calculations for airlines. For example, the more you fly on an airline, the more points you get and the higher status you get, so you get more upgrades to first class and you can exchange your points for free flights. It's all about customer lifetime value, the amount they figure they'll make off of you over your lifetime, so they will…

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