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$50,000 and Progressive Payoffs

 

Although some casinos still have 70¢ tickets with a grand prize of $25,000, most of the houses now feature a payoff of at least $50,000, with minimum $1 tickets. On the Strip the minimum can be as high as $2. Keno, if one keeps losing, can add up to an expensive undertaking.

Not-only are $50,000 payouts the norm, but several casinos have instituted a progressive payout. It begins at $50,000 and moves up to as high as $200,000 or $250,000. Each time the huge payoff is not paid out, the progressive payoff increases in small increments. At one casino it was at $69,000, at another it was already up to the maximum of $200,000 when I visited Vegas last. Needless to say, if you want to play the games, wait for the maximum payoff before investing your couple of dollars.

The progressive payoff usually starts with a 9 ticket rather than with any of the smaller ones. The more numbers a player selects, the more the casino advantage and the less likely that player is of winning. So the casino entices the player with the big jackpot, but he or she must purchase a larger ticket picking at least 9 numbers. In the Horseshoe Club in downtown Las Vegas, you must purchase a $2 ticket with at least 9 numbers (you can choose more numbers) in order to be eligible for the progressive prize. Let's look at a typical rate card for the $1 games featuring the progressive prize, which in this instance can be as high as $200,000.

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Online Poker Guru Tips
Suppose there is $80 in the pot, and you have two pair. You are playing draw poker games, and you bet $10, which we will assume is all you can bet. Your single opponent has a four flush - that is, four cards to a flush. The question is - are you rooting for him to call or fold? Naturally you want him to do what is most profitable for you. The Fundamental Theorem of poker games states that what is most profitable for you is for your opponent to make the incorrect play based on complete information about both hands in poker. Since your opponent is getting 9-to-1 odds (his $10 call might win him $90) and is only about a 5-to-1 underdog to make a flush, it is correct for him to call because a call has positive expectation. Since it is correct for him to call, following the Fundamental Theorem, you are therefore rooting for him to fold.
 
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