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.
Poker Guru Tips
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.