"Comps" are freebies issued by casinos to reward customers for their business, and to lure the customers back.
"Comps" is short for "compensation." Comps are freebies issued by casinos to reward customers for their business. It is a way to promote good will and elicit player loyalty so that they will keep coming back.
To qualify for comps at a particular casino, you have to join their "players club" and be issued a players card. Then, whenever you play at a machine or gaming table, you must show your card to the slot attendant or pit boss. The pit boss will rate your play; that is he will keep track of, or measure the amount that you play.
Casinos issue comps based on the theoretical amount that you lose when you gamble. They don't directly measure your losses, but rather the amount that you play. They know that because of the odds involved in the gambling, that you will theoretically lose a certain percentage of the amount that you play. Most casinos can issue comps for up to 25-35% of the amount that they theoretically earn; which is what you theoretically lose.
Comps can take many forms, including free drinks, free food, and even free or discounted rooms. You have to ask for comps to get them. Find a casino host and ask. You could also receive comp offers in the mail. Casinos do this to lure you back to play more.
Some players consider comps a discount. They recognize that over the long haul they will lose money gambling. However, they consider gambling a form of entertainment that they pay for with their losses, and that the comps are a form of discount or rebate.