In the past two years I have won two bad beat jackpots playing hold 'em in local Los Angeles area casinos. Exciting! Rewarding! Sure, I was lucky; the odds must be a gazillion-to-1 against it happening, but, over the long run, it can-and obviously does happen.
The rules and payoffs vary from casino to casino. Typically, you must have aces-full-of-tens or better beaten by four-of-a-kind or better at the showdown, with each player using both of his hole cards in his best five-card hand.
With thousands of dollars in the jackpot pool, being awarded 40 to 50 percent is a huge win! You must report it to the IRS and pay income taxes on your winnings and the casino will send the IRS a W-9 form. The player whose four-of-a-kind beat you generally wins 20-25 percent of the jackpot. The rest of the jackpot is divided equally among other players at the table who were dealt a hand. When someone hits a jackpot, everyone goes home a winner!
A Typical Payout. Say the Jackpot has $14,000. The "loser" is awarded 50 percent-that's $7,000; the "winner" receives 20 percent, or $2,800. Dividing the remaining 30 percent among all the other players in that hand (pity the poor guy who took a break from that hand), each player at a full table of nine would be awarded one-seventh of $4,200 or $600. In a low- or middle-limit game that's big money! Everyone is a winner!
What's the Best Way? What are the best starting hands that can lead to such a jackpot win? Both times that I won, I started with a big pocket pair-Q-Q the first time, and K-K most recently. The player whose hand beat mine started with one ace and another high card in the hole. Then, when three aces fell on the board and his kicker was higher than the other cards on the board, we had it: a bad beat jackpot!
Wow!!
On one occasion, I saw an "almost-jackpot" when a player with Q-Q made aces-full-of queens on the river when a third ace fell and his hand was beaten by an opponent with an ace. But his kicker was lower than one of the non-aces on the board. Oh so close! But not a jackpot winner.
There are other possible scenarios, such as four-of-a-kind beaten by a higher four-of-a- kind. Or you could start with pocket aces, make aces full of tens when the board shows an ace and two tens-and be beaten by four tens by an opponent holding pocket tens. I haven't tried to calculate the probabilities-though Richard Burke did, and if you read his column this issue, you can see the odds against hitting a jackpot for yourself-but rest assured, the odds are monstrous against this happening. The fact that I won both times when I started with a high pocket pair against an opponent with an ace and a high honor card, suggests that this scenario is the most likely to bear fruit.
Something to Behold. When there is a bad beat jackpot at a table, the table seems to suddenly go silent as the two players show their hands. Then, as the players comprehend what's happened, there is a loud and powerful roar! Players from neighboring tables rush over to see. The players at the table leap to their feet; and there are lots of shouting and high-fives all around. A floor person verifies the hands, makes sure the playing deck is correct (wouldn't it be awful if it were not?), and gets the IRS-reporting information from the players involved. Shortly after-the payoffs!
So, readers, what's your opinion?
