http://www.palms.com/gaming/las-vegas-club-palms/

Palms is offering a similar promotion to Riviera's $1000 loss rebate. One major difference is that table games are included, although the value is just under 50% because you get promotional chips and not free slot play. New players only, and locals are not allowed to take part in the promotion.

Don't see anything under promotions when following your link

Is the Palms "promo" chips 1 play only or play til they lose?

It is on the page I linked to, rules are below the points explanation.

I assume the table promo chips are one time only. The consensus seems to be the loss rebate is worth about 50% there because you have to win to break even on the chips, but I do not know for sure.

The rules are vague for sure, expect several changes like Riviera made.

I like it. No locals blows, but I have a trick.

Not sure how this works, say I lost $1000 in an hour playing blackjack, they'll give me $1000 worth of playchips or is it $300 as indicated on that table?

You would get $300 immediately, $300 in 14 days-6 months, and $400 on your 3rd visit 3-12 months later.

Thanks for the clarification, from what I understand, this can make games such as BJ fairly +EV, right?

You are getting about 50% back on your losses so I would assume the freeroll opportunity would make it +EV. One question to ask is if promo chips pay even money on blackjacks. If they do, you should use the promo chips to play craps on the line bets.

From what I understand, if you do it on slots you get 1000 free play which might be worth 950-990. If you do it on table games you get the chips which are worth around 500.

For the free chips, if you can do the field bet in craps, it can pay off 50% or more than 50% of the value depending on whether they pay 3 to 1 on certain numbers. The reason is that they take the chip either way, so the part of your EV that comes from getting your wager back when you win doesn't matter. In other words, variance is your friend when wagering promotional chips. This is why they usually restrict to even money games, but some bets like blackjack and field bets are considered even money even though they sometimes pay off more.

At other casinos, if you place the promo chips on the field and hit a 2 or 12 or get dealt a natural blackjack, they will still only pay you even money. I have no first hand experience with Palms though. The line bets are the way to go if they have that same policy.

But can you place bets on non even money games such as roulette?

With the promo chips? If Palms is like other casinos, they will only pay you even money on them regardless of the bet. I have yet to see anyone say it is different at Palms. I would think losses on those numbers count towards the loss, so that might be a good high variance way to try and win. Go and bet $50 (or less if the max is lower on the 36-1 bets as it may be $25) on a single number 20 times.

so whats the best way to go about this?

should i just go bet $500 (in case of double down) on bj and if i win leave, or lose get promo chips over a period of time (starting with the $300 which i will use on low varience bets to try and get money back)?

apologies for not being too gamble saavy

You have to lose 1000 to get the full bonus. I would lose it on one craps pass line bet because then you don't have to worry about splitting.

On the other hand the slots rebate has a much higher ev. If you can play vp palms has a super high variance game called triple double bonus. By my back of the book calculation there is a 30 percent chance you hit some kind of jackpot either 4000 or 2000 on a dollar machine before you go broke.

Other people like just regular slot machines in super high denominations. This might be the highest ev play but I think even riskier and the ev gains aren't huge relative to the last suggestion.