A large number of sharks are getting attracted to Caesars Windsor because its poker room is offering a six-figure bad beat jackpot. On the night of Wednesday, the bad beat jackpot hit the $207,000 mark, becoming the largest bad beat jackpot in the history of the casino. Caesars Windsor had launched its bad beat jackpot in August 2008.
Chris Baker, Caesars senior shift manager, said: “The room is really exciting because when the jackpot reached $200,000 people are looking at trying to get that prize of $100,000. It is the highest prize in the room.”
Baker’s words might sound confusing, but not after understanding how this bad beat jackpot works. Players who want to win the jackpot simply have to lose in the worst possible way. As Baker puts it, “The bad beat jackpot is—ironically as it sounds—you want to lose with the best hand.”
The player who holds a four of a kind that is better than any other four of a kind combination at the table wins the bad beat prize. Baker said, “If you are the losing player in that hand and your four of a kind gets beat, you actually win 50 percent of that bad beat jackpot.”
Considering the current size of the bad beat jackpot, the player who loses will win around $103,000, while the player who has the better winning hand will get one-fourth of the total jackpot size. The rest of the players at the table will divide the rest of the jackpot equally among themselves. Baker said, “A table holds 10 customers so that’s more than $5,000 for the rest at the table.”
Caesar Windsor’s bad beat jackpot had become a six-figure jackpot last year. Last May, it was won when it had reached the $167,000 mark and last August, it was won when it had reached the $102,000 mark. Baker said that the casino is now attracting more poker customers than ever, and many of them are first-time visitors.
Whenever a hand is played and the pot contains at least $20, the bad beat jackpot increases in size by one dollar. According to Myron Hlynka, professor of statistics and mathematics at Windsor University, the odds of two players getting four of a kind are around 1 in 200,000, a ratio that increases by around 10 for every extra player. He also said that it is highly unusual that a bad beat jackpot could become so large.