Titan 100 million dollars bonus

[spliff]

Hi,

in their 500k guaranteed tournament, Titan gives 100 million dollars if a player hits a Royal Straight Flush with spades on the final table.

Off course this is very unlike to happen.

But do they have 100 million dollars to pay, if it does happen ??

100.000.000$ seems like a ridicously large amount of money.

You should be able to buy Titan Poker several times for that amount.

[TimsterToo]

The first thing I would think of is that they have insured this by a or several insurance companies.

They should be able to calculate the odds of this happening quite closely and they'll pay a premium based on that. They are probably (quite a bit) cheaper of then Paradise was with his 1 million$ free roll.

(Let's say they pay an insurance company 100.000$ to cover this risk. This would mean that the insurance company gets a pretty good deal as the chances of this happening must be a whole lot smaller then 1 in 1000 and they get to advertise with 100.000.000 for a much smaller price.)

[ddollevoet]

This is obviously covered by an insurance policy as state above.

I'll bet that Titan hopes someone hits the Royal Flush. The benefits from free media / buzz / advertising that would come as a result would far exceed what they are paying for a insurance premium.

[spliff]

Amazing promotion.

I sure would like 100 million dollars, wouldn't even mind paying tax of it /images/graemlins/smile.gif

[Sponger.]

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I'll bet that Titan hopes someone hits the Royal Flush. The benefits from free media / buzz / advertising that would come as a result would far exceed what they are paying for a insurance premium.

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Time to rig the final table then? /images/graemlins/grin.gif

[betadecay]

[ QUOTE ]
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I'll bet that Titan hopes someone hits the Royal Flush. The benefits from free media / buzz / advertising that would come as a result would far exceed what they are paying for a insurance premium.

[/ QUOTE ]

Time to rig the final table then? /images/graemlins/grin.gif

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lol, was about to say, this goes to show how online poker is not rigged.

[SoCalRugger]

So basically if you've got J /images/graemlins/spade.gifT /images/graemlins/spade.gif, the flop comes A /images/graemlins/spade.gif6 /images/graemlins/diamond.gif2 /images/graemlins/heart.gif, and the big stack at the table pushes, you have to call. 'cause if I folded and ended up hitting my 1 in a 1000 runner runner, I'd probably have to kill myself.

[spliff]

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lol, was about to say, this goes to show how online poker is not rigged.

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The final table is played live.

Don't think anyone would garantee ensurance for 100 mill. $ to someone in which interest it is to get it paid, and let the outcome be controlled by his software.

Think the ensurance companies is double-tjekking the dealers to /images/graemlins/smile.gif

[Pasty Fats]

[ QUOTE ]
So basically if you've got J /images/graemlins/spade.gifT /images/graemlins/spade.gif, the flop comes A /images/graemlins/spade.gif6 /images/graemlins/diamond.gif2 /images/graemlins/heart.gif, and the big stack at the table pushes, you have to call. 'cause if I folded and ended up hitting my 1 in a 1000 runner runner, I'd probably have to kill myself.

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This is an interesting point - kind of like how EV decisions in video poker are swayed by the mega payoff on a Royal. I suppose the difference is that you are only playing a short session here though - I'm just finding my way with these kind of calculations, but I'm pretty confident that a gutshot to the spade royal is worth your whole stack at any point in plain EV terms.