$670k royal flush

[mjbballar23]

Full Tilt Pro Huck Seed hit a $670k royal flush progressive. If you do the math you can see what his EV was playing this game.


Heres a pic from his twitter account:

(Dead link: http://lockerz.com/s/126049089)

 

[Nynefingers]

I get around $3.25 per hand, so $2500/hr or better, depending on your playing speed. $500/hand is pretty sick... Am I right in thinking that the loss rate on that machine while waiting for the royal would be around $10k/hr? How are jackpots/handpays handled on machines like that? Is it still anything $1200 and up, or does a different requirement come into play (300:1 or something like that)?

 

[alwayssplitaces]

He might have been the only one playing the $500 machine, and he has the bankroll to sustain the variance. He would be guaranteed to hit the progressive eventually. Plus his action is also feeding the progressive. If I were guaranteed to win the $670k progressive, I would camp out at a video poker machine for a week.

 

[Billy C1]

He might have been the only one playing the $500 machine, and he has the bankroll to sustain the variance. He would be guaranteed to hit the progressive eventually. Plus his action is also feeding the progressive. If I were guaranteed to win the $670k progressive, I would camp out at a video poker machine for a week.

You aren't guaranteed to hit the royal-------you could have a heart attack and die after playing 100 hands (would only affect your benefactors!)

BillyC1

 

[Machinist]

I get around $3.25 per hand, so $2500/hr or better, depending on your playing speed. $500/hand is pretty sick... Am I right in thinking that the loss rate on that machine while waiting for the royal would be around $10k/hr? How are jackpots/handpays handled on machines like that? Is it still anything $1200 and up, or does a different requirement come into play (300:1 or something like that)?

Nyne I didn't read the article.....but I'm assuming this was a 100.oo machine? A 1$ single line vp has a loss rate of 100$ an hr.........soyou are correct, if it was a 100$ machine.
Also assuming this was a 1/2% HE game.....

Machinist

 

[Jack_Black]

I guess I don't know much about VP now. how are you able to figure out what kind of machine it is? I'm guessing it's bonus poker, but that can't be since I'm getting 97% return based on 5 coins. WTF am I missing????!!!!

 

[aslan]

I guess I don't know much about VP now. how are you able to figure out what kind of machine it is? I'm guessing it's bonus poker, but that can't be since I'm getting 97% return based on 5 coins. WTF am I missing????!!!!

I think it is Bonus Poker, since it has all the pays of Bonus Poker, but it is a variant with 40 payout for 4 "2,3,4's" instead of 50 payout and of course the progressive instead of the usual 4000 units, which would be $400,000.

 

[aslan]

I get around $3.25 per hand, so $2500/hr or better, depending on your playing speed. $500/hand is pretty sick... Am I right in thinking that the loss rate on that machine while waiting for the royal would be around $10k/hr? How are jackpots/handpays handled on machines like that? Is it still anything $1200 and up, or does a different requirement come into play (300:1 or something like that)?

They probably handcuff you to the machine until an IRS agent arrives. :joker:

 

[aslan]

He might have been the only one playing the $500 machine, and he has the bankroll to sustain the variance. He would be guaranteed to hit the progressive eventually. Plus his action is also feeding the progressive. If I were guaranteed to win the $670k progressive, I would camp out at a video poker machine for a week.

Why would you be guaranteed even if you played it for years, unless the state has a requirement that the machine must payoff within a specified time? Odds of hitting every 40,000 plays or so are not guarantees, just odds. Do they usually guarantee that someone will win when they have a progressive? Still, it's very expensive. Imagine the money you could lose if you played everyday, 8 hours a day, for a year, losing $10,000 an hour, but never hit the RSF.

 

[peaegg]

VP jackpot without progressive is 4000 coins

I guess I don't know much about VP now. how are you able to figure out what kind of machine it is? I'm guessing it's bonus poker, but that can't be since I'm getting 97% return based on 5 coins. WTF am I missing????!!!!

So it could not be a $500 machine. or it will be above 1M if progressive. Next to 100 would be $25. I haven't seen a $50 machine yet. This would be a juicy progressive if it was $25. Only problem that I have playing VP is the tax. I might be able to claim losses but that doesn't help me because it raises the alternative minimum tax that I own.

Edit: This was an $100 machine. If you take a close look what's at the bottom center of the picture, you can almost see 100 mark (beneath "Bet 5")

 

[Sonny]

What's the EV after taxes?

-Sonny-

 

[aslan]

What's the EV after taxes?

-Sonny-

I wonder what the state law says about me declaring my Vegas home as my primary residence after the fact of the win, but within the same year. State income tax in Virginia would be 5.75%.

PS-- I think my Fed tax rate would be 33% unless they'll changed it since I looked last.

 

[aslan]

I just checked and everything above $379,151 would be at 35% for FIT.

 

[aslan]

That's 40.75% for combined Federal and state taxes, or $275,741 tax bill. How much of that do you think you could offset with losses? Be sure your losing race track ticket do not have footprints on them. IRS with disallow them all. :laugh: (and may put you in jail)

 

[Machinist]

Not to mention all the w2gs he will get for flushes,fullhouses,4kds,
Hell even a straight.......
Yep pretty pointless if you ask me......I can think of much better places to use my money....

Mac

 

[Automatic Monkey]

Doesn't look like a bad machine to play that kind of game on, relatively low variance for VP. We don't know what other kind of promo action he was getting.

Biggest problem looks like it could be waiting for a hand-pay every time you hit trips or above!

 

[mjbballar23]

Not to mention all the w2gs he will get for flushes,fullhouses,4kds,
Hell even a straight.......
Yep pretty pointless if you ask me......I can think of much better places to use my money....

Mac

There must be something different that happens with these machines. If you look at the picture it says he had 711k after hitting the royal so he already had $40k already in the machine.

 

[Machinist]

Doesn't look like a bad machine to play that kind of game on, relatively low variance for VP. We don't know what other kind of promo action he was getting.

Biggest problem looks like it could be waiting for a hand-pay every time you hit trips or above!

Yeppers Monkey.........how many hands an hour could he realistically pound out.....2 or 3 hundred an hour....Probably not even that......
That was the problem with machines that used coins back in the good old days......It would hit the cap and start spitting coins out.......then ya hit a hand pay.....wait wait wait....
Same deal with BJ machines with the coins........ugghhhhh what a joke back then...
Oh yeah then there were the machine fills for coins.........
I submit to all of ya...........the guy is a gambling fool..........degenerate all the way....

Machinist

 

[BOND]

Yeppers Monkey.........how many hands an hour could he realistically pound out.....2 or 3 hundred an hour....Probably not even that......
That was the problem with machines that used coins back in the good old days......It would hit the cap and start spitting coins out.......then ya hit a hand pay.....wait wait wait....
Same deal with BJ machines with the coins........ugghhhhh what a joke back then...
Oh yeah then there were the machine fills for coins.........
I submit to all of ya...........the guy is a gambling fool..........degenerate all the way....

Machinist

I absolutely agree with you all. Any wins above $1200 will generate a tax form: 3 of kind, straight, flush, full house, 4 of a kind, straight flush, and the royal flush. Unless he can write off most of the fed and state taxes, it is a negative expectation game. And also a waste of time with the slow hand pays.

Assuming his winnings above $1200 are taxed at only 10%, Wolf Video Poker results show it is a 96.92% game. Not an AP play.

 

[BOND]

Other gambling forums say that he was playing at the Aria Casino in Las Vegas, invested 10 hours @500 hands/hour and lost about $41k before hitting the Royal Flush. They also say he earned +$100k in comps.