Big win for Ken

KenSmith

Administrator
Staff member
#1
Here's a short version of my weekend:

The Grand Casino in Biloxi reopened for the first time since Hurricane Katrina on Thursday evening. One of the games available was Caribbean Stud, but the rules had been changed a bit. Prior to the storm, Grand Casino Gulfport and Grand Casino Biloxi each had a Caribbean Stud game, with separate progressive jackpots. At the new Grand in Biloxi, Harrah's wanted to replace that game with something more popular.

However, there's the issue of the jackpots. That's not the casino's money; it's the players' money. They can't just close down the game and eliminate the jackpot. They must give it away. The normal process of awarding the jackpot to a player who is dealt a Royal Flush could take years. So, they instead changed the rules to award the jackpot to the first player who was dealt four of a kind.

The first person who got four of a kind would win the Gulfport jackpot, which was at $86,000. Then, they would clear the game, reset the jackpot to $99,000, and give away the Biloxi jackpot. After that, the game would be closed forever.

Timeline:
Thursday, Aug 17th, 9 PM: The Grand Casino in Biloxi reopens.

Friday, Aug 18th, 6 PM: I receive a phone call, telling me about the game.

Friday, Aug 18th, 7 PM: I'm in my car, for a 90 minute drive to Biloxi's Grand Casino.

Friday, Aug 18th, 8:30 PM: I arrive at the casino and find what I expected, a full table at the Caribbean Stud game. I start waiting for a seat. I'm not first in line, so it takes a while, a long while.

Saturday, Aug 19th, 5 AM: Finally, after a 7 1/2 hour wait, I get a seat at the table, and buy-in for the first $500 of what would be many. The minimum bet was $25 (actually $26 with the $1 jackpot bet), and with each hand, you either fold and lose $26, or bet another $50 to play the hand. A losing hand therefore costs $76. The jackpot is rising slowly, and now stands at about $87,000.

Sunday, Aug 20th, 5 AM: 24 hours later, I'm still at the table. I've now been in the casino for 31.5 hours straight. The game is moving very slowly now, because of slow players and some technical problems. And, I'm exhausted. I've been awake for 48 hours straight, 31.5 of them at this table. I need some rest, and I decide that now is the best time to go grab 3 hours of sleep. Hopefully, at 8 AM, I'll have a good chance of getting back on the table. I leave to grab some sleep.

Sunday, Aug 20th, 5:20 AM: My phone rings. The message was short: "It's over." Less than ten hands after I left the table, a woman I didn't know had drawn 4 Kings to win the jackpot of $89,000. I was tired, hungry, and about $3000 less bankrolled than when I had arrived. Now that's a miserable situation! I get a drive-thru breakfast, intended as a way to stay awake for my 90 minute drive home as much as to stifle my hunger. I know the other jackpot will be in play soon, but I don't know exactly when, and I must rest regardless.

Sunday, Aug 20th, 7:30 AM: I collapse into bed at home.

Sunday, Aug 20th, 5:30 PM: I'm finally awake, but I need to handle a few messages and website issues.

Sunday, Aug 20th, 8:30 PM: I throw a few clothes in my bag, and head south once again, for an attack on jackpot #2.

Sunday, Aug 20th, 10 PM: Back at the table, I start the waiting game again.

Monday, Aug 21st, 4:30 AM: I'm buying in for my first stack of chips again, starting another marathon session.

Monday, Aug 21st, 9 AM: I pick up another of the seemingly endless stream of hands at the table, and squeeze the cards. Two, Ten, Two, Two... Hey, that's cool. I've got three twos. I'll probably win this hand. Without really thinking any further about the implications, the last card just sort of falls into view. The case two in the deck! I'm speechless. The guy sitting next to me is still able to speak though, and he announces to the table: "It's over. He's got 4 deuces." We play out the hand. (The dealer didn't open, because his hand was worse than the Ace-King required to qualify. If the dealer had a hand, I would have won an extra $1000.)

Still, that's nothing to complain about. The progressive meter had been climbing all the while I had been playing. When I hit it, it had just topped the nice six-figure mark. I won $100,002.77.

Monday, Aug 21st, 10:30 AM: After the state Gaming Commission representative had come by, and all the cards had been checked and re-checked, my jackpot was official, and I collected the winnings.

Monday, Aug 21st, 1:30 PM: I make it back home, tired, but in a decidedly better mood than my stopover a day earlier.

$100,002.77 Nice!

If you noticed I wasn't around on the boards for a few days, that's why. I was sorta busy! It's been a long, long weekend. I'll see y'all back on the boards tomorrow. For now, I need sleep!
 

Liquid Chips

Well-Known Member
#6
Damn, major nice!!! I come out of my hidey hole :D just to congratulate you and I'm happy that you won that big jackpot after all the effort you put into it!!! Congrats!!!
 

KenSmith

Administrator
Staff member
#11
jimbiggs said:
I'm curious. How much of your win will you lose to taxes?
Mississippi has a 3% non-refundable tax that is withheld from all jackpot amounts over $1200. In addition, federal withholding is mandatory when the amount is over $5000 and the payoff was more than 300 times the wager amount. The mandatory Federal withholding is 25%, but in my case they withheld 28%. (That percentage comes from the regulation concerning "backup withholding", but actually should not have applied in my case.)

All in all, they kept $31,000 of my $100K. For most players that hit a big payoff, they can reduce their tax liability because they have losses to offset the big win. In my case, I was already ahead for the year, so this goes on top. Looks like another painful tax year.

Hey, at least it's a good problem to have.
 
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ScottH

Well-Known Member
#12
KenSmith said:
Hey, at least it's a good problem to have.
I heard some people talking about winning the powerball drawing. One of them said they were waiting for the jackpot to get bigger. Then the other one said something like "You'll just have to pay millions more in taxes." :laugh:

Like you said, it's a really nice "problem" to have. The more taxes you have to pay, the more you won!
 

rdorange

Well-Known Member
#13
Congrats!

Great win.

Good things come to those who wait!

How often do you play Bilox, MS. The BJ games there are not to bad. S17 for most of the pitch games. Isn't that worth commuting a little further for?
 
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