January 16, 2013
@RandomPoker: Vegas grinders look for new promos to pad their EV
All Caesars poker rooms across Nevada launched the Mega Beat Progressive Poker Jackpot earlier this month. It started with $200k to be paid out if some luckbox got his quad aces cracked. For every $100k more dumped into the drop, the qualifying hand also drops. So at $300k, all you need to lose with is with quad kings, at $400k quad queens …
I tried to hit it last week — flopped quad bullets at Planet Hollywood with two fish betting into me — but couldn’t lose to win.
After I relayed the story to a math-minded pro friend who told me that, because of the board, there was no possible hand that could have beat me and I should have raised at some point prior to the river.
Meanwhile, Yahoo Answers told me the odds of losing with a hand as weak as quad eights (see: $800k on the Mega Beat scale) are “not good.”
But for this new Caesars Megabeat Jackpot, it doesn’t have to be you: 20 percent of the jackpot goes to the player with the losing hand, and 10 percent to the player with the winning hand; But 70 percent is distributed to players at all Caesars properties in the state. Because of this promo, they’re not offering high hand bonuses. Which means I was a few days late for being good enough to actually win with quads. Is that a bad beat?
For most of last year, poker players in Las Vegas could find at least one place to earn something of an hourly wage on top of the chips they collected at the table. But that trend has all but vanished in 2013. Poker rooms have essentially stopped encouraging grinders to fold all day long.