Posts Tagged ‘jackpots’
If you play in a poker room with jackpot rules that you don't like, talk to the poker room management about it. They do listen, and they do respond to players' comments. If you feel that a rule is especially egregious, and you can't get satisfaction from the poker room, consider making a complaint to the gaming commission. Your complaint may be just the one they're waiting for to take action If the jackpot influences you to do something you would not ordinarily have done, record that in your records. If you're lucky enough to hit and share in a jackpot, record the amount in your records as a win. For example, if you won $65 playing hold 'em during your entire session, and you got another $350 as your share of a jackpot, you should record a win of $415 in your records. Be sure to mention the jackpot so you can explain the big win.
When you play and don't win the jackpot, the money that goes into the jackpot comes from you. It's a loss that you don't see, because your share of the jackpot drop might be as low as 10C per hand in a full game. The records you've been keeping up to this point include the loss of the jackpot drop, so it's only right that you count the win when you get some of it back.
You should know that some poker players are almost exclusively "jackpot chasers." They move from poker room to poker room and from game to game in an effort to play in the one game in town that has the best jackpot with the best odds of being hit. If you are going to focus on jackpots at all, I recommend that you follow their method. Your hourly rate will increase significantly if you can become one of these players. Good luck!
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Notice that if the game is only half-full, the odds against hitting the jackpot more than quadruple, rather than just double. This table also shows why (if the game is very short-handed), you should not play for a small jackpot. With the game already short-handed, the pots will be much smaller than usual, and the $ 1 that's taken out for the jackpot will be a much larger percentage of the pot than usual. You'll make more money in the long run if you leave that dollar in the pot where you can win it now.
Don't use that dollar to make a bet that you can beat the 56,000+ to 1 odds to get a share of the jackpot in the next few hours. If your game is five-handed and you're playing thirty-five hands per hour for the next three hours, then you'll have played 105 hands. 56,250/105=535.7. Your odds of hitting the jackpot in the next three hours are 535.7 to 1.
Would you rather have the extra $30 or so that you will win today by not playing for the jackpot, or would you rather give up that money in exchange for the long odds of hitting the jackpot? That $30 saved 535 times equals $16,071. Would your share of any jackpot be that big if you hit it? Usually not.
There's one other thing about jackpots that you should know. It concerns the Omaha jackpot, if there is one. My research has shown me that an Omaha jackpot is about four times easier to hit than a hold 'em jackpot. Why? It's because there are more hand matchups in Omaha than there are in hold 'em.
An Omaha player who is dealt A*J*9*7V doesn't have just one hand. He has six of them:
l.A*J* 3.A*7V 5.J*7* 2. A*9V 4. J*9¥ 6.9*7*
Just two Omaha players can matchup their hands in thirty-six different ways! It takes nine hold 'em players to achieve that many matchups. How many times have you been in a hold 'em game where one of the players had the minimum losing hand to hit the jackpot and no one beat him?
In an Omaha game, every player in the hand will have six times as many hands as he would in a hold 'em game. Because of that, someone will beat him about four times as often as in the hold 'em game. Why four times and not six times as often? Two reasons:
1. It's impossible for 2s, 3s and 4s to make a qualifying hand under most circumstances.
2. Some Omaha games require that the losing hand be four-of-a-kind rather than just aces full.
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