Progressive Jackpot Odds
Odds of winning the jackpot are 1 in 150,000. Price point: $3 Jackpot share: 30% Non-jackpot prize amounts: $3 to $1,500 Overall odds: 1 in 3.36. Match your call numbers (the numbers on your ticket) to the numbers on the Bingo cards. If you complete a winning pattern, you.
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Over President’s Day Weekend, a Monmouth County man showed the best thing to do after becoming a Caesars progressive jackpot winner. Before he left with his after-tax payout on the $1.1 million pot, he spread the love generously. As the name suggests, progressive blackjack offers a prize pool that grows over time. Whenever a player makes a side bet, a portion of the wager goes into the jackpot. Over time the jackpot rises until a lucky fan lands four suited aces to win the prize. Of course, online games with progressive blackjack isn't an all or nothing proposition. Progressive machines are linked together, and the maximum jackpot is determined by how much they're being used. The more people play them, the higher the jackpot amount. However, because of the number of people vying for that jackpot, your odds of winning at progressive machines are lower than fixed machines.
- Appendices
- Miscellaneous
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Introduction
I noticed this variation of Bet the Set on April 19, 2013 at the Red Rock casino in Las Vegas. It was dealt from a six-deck game. The bet wins if the player has a pair for his initial two cards, more if they are suited. Unlike the normal Bet the Set, if the player has a pair he has a chance for big wins if the dealer also has a pair of the same rank.
If the player gets a colored four of a kind not only is he paid 250 to 1, but also wins a progressive jackpot. In addition, there are envy bonuses if another player gets a colored four of a kind. The minimum bet to qualify for the jackpot and envy bonuses is $1.
Rules
- The following analysis is based on six decks. I suppose any number could be used.
- If the four cards, consisting of the player's and dealer's initial two cards, consist of a colored four of a kind, then the player's wager shall win 250 to 1, plus the amount in the progressive jackpot.
- Otherwise, if the four cards, consisting of the player's and dealer's initial two cards, consist of a four of a kind of both red and black, then the player's wager shall pay 100 to 1.
- Otherwise, if the player's two cards form a suited pair, then the player's wager shall pay 20 to 1.
- Otherwise, if the player's two cards form a non-suited pair, then the player's wager shall pay 5 to 1.
- Otherwise, the player must have two cards of different ranks, which loses.
- If any player gets a colored four of a kind then every other player at the table who made the Bet the Set wager shall win an envy bonus of $50.
Rack card. Click on either image for a larger version.
Analysis
The following table shows the odds for a six-deck game, before considering the jackpot and envy bonuses. The lower right cell shows a house edge of 27.74%.
Bet the Set — Progressive — Six Decks
| Event | Pays | Combinations | Probability | Return |
|---|---|---|---|---|
| Colored four of a kind | 250 | 77,220 | 0.000033 | 0.008308 |
| Four of a kind | 100 | 751,608 | 0.000323 | 0.032346 |
| Suited pair | 20 | 37,177,920 | 0.016000 | 0.319993 |
| Pair | 5 | 133,840,512 | 0.057599 | 0.287993 |
| Loser | -1 | 2,151,826,560 | 0.926045 | -0.926045 |
| Total | 2,323,673,820 | 1.000000 | -0.277405 |
Progressive Jackpot Odds Calculator
The following table shows the expected value per each $1,000 in the meter and each additional player by the bet amount. Remember that the progressive and envy bonuses are flat awards, thus the benefit is inversely proportional to bet size.
Value per $1000 in Meter and Additional Players
| Wager | Value per $1000 in Meter | Value per Additional Player |
|---|---|---|
| $1 | 3.323% | 0.166% |
| $5 | 0.665% | 0.033% |
| $10 | 0.332% | 0.017% |
| $25 | 0.133% | 0.007% |
The following table shows the expected value per each $1,000 in the meter and each additional player by the bet amount. Remember that the progressive and envy bonuses are flat awards, thus the benefit is inversely proportional to bet size.
Mega Millions Odds Jackpot
Value per $1000 in Meter and Additional Players
Progressive Jackpot Odds Chart
| Wager | Breakeven Point |
|---|---|
| $1 | $8,347.58 |
| $5 | $41,737.88 |
| $10 | $83,475.76 |
| $25 | $208,689.39 |
When I saw this bet on April 20, 2013 the meter was at $7,817.44.