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Answer 1 of 9: We are sending a frient to AC as a gift- and prepaying for room and meals- we would like to give money for gambling, but dont want to give cash - can you use an Amex gift card in the casino to buy chips? Or card for slot machines?

Atlantic City casino comps, giveaways keep comingPress of Atlantic City
Bamboozled: Revel Casino's pitch to refund slot losses craps out in the fine print, critics sayStar-Ledger
Slot promotion heats up one Atlantic City casino, but rest of market is tepidAssociated Press

The “You can’t lose” promotion, which promised to refund losses at slot machines Atlantic City’s Revel, appears to be a big winner for the casino—even if consumer advocates think the deal is misleading at best.

Atlantic City has experienced hard times over the past few years, a spell during which the economy has faltered and gambling has spread rapidly throughout the country—thereby eliminating the need to head to the Jersey Shore to play the slots. Last year, the city’s casinos grossed $3 billion, down from a high of $5.2 billion in 2006.

A.C.’s woes continued this past July, when the destination’s 12 casinos collectively generated $297.2 million, a 3.6% decrease from the July 2012 total, $308.2 million, according to the New Jersey Division of Gaming Enforcement. July revenues dropped steeply in particular at the Tropicana and Trump Plaza, down 26% and 25% respectively, compared to last year.

(MORE:Casino Revenues Are Up in 2012 — Thanks in Part to Gambling in Kansas)

Not all Atlantic City casinos have been faring poorly, however. The Revel, which opened in the spring of 2012, took in $23.4 million in slot machine and table game revenues last month, a 33% increase over the July 2012 total of $17.5 million. The Press of Atlantic City reported that Revel’s rise hasn’t come merely as a result of being the newest player in A.C., but due to some very special promotions:

Normally mired near the bottom of the pack in monthly revenue, Revel jumped to sixth place with the help of its new “Gamblers Wanted” marketing strategy. The campaign included a “You can’t lose!” promotion that promised to refund gamblers’ slot losses.

Apparently, many gamblers jumped on Revel’s amazing-sounding promotion, which promised to refund slot losses of more than $100 from July 1 to 31. Of course, the promotion wasn’t quite as generous as the marketers would have you believe. The catch, as the Star-Ledger’s “Bamboozled” column, Consumerist.com, and other consumer watchdogs have pointed out, is that the “refund” doesn’t come in the form of cash or money back on a credit card, but as credits that can be used on future slot play at Revel. What’s more, instead of awarding the credits in one lump sum, they’re doled out in 5% increments weekly over the course of 20 weeks, and each allotment of credits must be used the week they’re “refunded” or they disappear.

The Philadelphia Inquirer explained how the promotion works in real life:

Say you lose $1,000. (Losses are covered between $100 and $100,000.) Each week, beginning Aug. 5, you’ll have 50 bettable bucks put on your Revel Card, and you’ll have to visit Revel to use them. Each week you miss between then and mid-December, say goodbye to that week’s amount.

It’s not so much a refund as a chance to risk your money all over again.

(MORE: Sin City Meets the Low Rollers)

It’s noteworthy that while the “You can’t lose” promotion seems to have been a big winner for Revel, one of the reasons the casino is able to boast a large increase in revenues this July is because it experienced such a lackluster opening summer. Revel even had to file for bankruptcy protection less than a year after opening its doors.

And while most Atlantic City casinos saw their businesses decline in July, one managed to surpass Revel in rising revenues. The Borgata took in $64 million last month, a $10 million increase over July 2012, compared to Revel’s $6 million year-over-year increase for July.

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Borgata executives say that the company can partly thank Revel’s “You can’t lose” promotion for the Borgata’s non-losing July. As the Associated Press reported:

Executive vice president Joe Lupo said the casino profited from displeasure with Revel’s slot promotion.

“We clearly benefited from the perception that some properties in this city made their customers jump through hoops,” he said.

The ultimate goal for a slot player is finding a loose machine amidst the vast sea of machines on the casino floor. Some equate the task equal to finding the proverbial needle in a haystack while others concede it is more like looking for a pot of gold at the end of a rainbow. Players dream of finding a loose slot machine but few achieve their goal. One reason for this is that the term “loose” when describing a slot machine is relative to the location and casino.

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A player from Las Vegas who plays slots at a local’s casino getting 98 percent payback would not consider a slot machine in Atlantic City that is set to payback 94 percent as a loose machine. However the player from Atlantic City where the average slot return is 91 percent would consider this same machine a loose one. Older slot machines were set at a higher house percentage than new machines are.

First, we should define the term loose slot machine. Payback is the overall percentage that a machine will return to the player in the long run. A loose machine is one that is set to pay back a higher percentage than other machines so the term loose would be relative to the other machines in the same casino.

Fact or Myth

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Over the years there has been much speculation and conjecture amongst slot players as to where the loose slot machines are located. There are many myths that have been circulating associated with the placement these loose slot machines on the casino floor. Here are a few to consider and some reasoning behind the myth.

Loose machines are surrounded by tight machines. The reasoning behind this myth is that many players like to play more than one machine at a time. If a loose machine is surrounded by a tight machine a player will give back the winnings from the loose machine if they simultaneously play the machines on either side.
Loose machines are placed by the entrance. The reasoning behind this myth is that people will see players winning and this will entice them to come into the casino and play. The basis for this myth can probably be traced back to downtown Las Vegas where the casinos were in walking distance of each other. People walking down the street could see the players winning at the slots and walk into the casino. Most of the new mega-resorts have multiple entrances so I would doubt the validity of this myth.
Machines near the table games are tight. The reasoning behind this myth is that the noise of the machines will distract the table game players. Another reason is that a table game player will be tempted to play any coins they have when they leave the table on their way to the cashier’s cage.
Machines near the end of the row are loose. The reasoning behind this myth is that players seeing other players win will be likely to go down into the row to play the machines.
Machines near the showroom and buffet are tight. The reasoning behind this myth is that players waiting in line for a show or for the buffet are a captive audience. They may be tempted to play a few coins to kill time while they wait. The machines are tight because they can’t leave the area to play other machines.
Machines near the casino cage are loose. The reasoning behind this myth is that the casino wants you to see people winning while you are waiting in line. This will entice you to play more.
Round Carousals of machines are looser that rows of machines. The reasoning behind this myth is that the carousels can bee seen from any direction in the casino. They want to put the loose machines where they winners are highly visible.

Think Like a Casino Executive

One of the problems with the myths is that no two casinos are the same. Each casino has a VP of slots who makes the decision about the placement of the machines. Try to think like a casino executive. Where would you put the loose machines?

Casino executives have heard all the myths concerning the placement of loose machines that the players have. If I were the manager I would not put a loose machine on the aisle. I would bury it further down the row. Think of this as reverse psychology. If I know where the players think the loose machines are I would want to put tight machines there instead.

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Be Realistic