Re: Bad Beat Jackpot Question
huh? it's only fair in terms of the cost of the gamble versus the payout in relation to the chances of hitting it. Of course it's unlikely to see quad jacks beat, but we have to know what it costs you to try, and what the payoff is if you win, to judge what is "fair".
In one sense, the cost is $0, so if the payout is anything, it's very nice of the casino to be giving their money away. Sweet, even. All they ask is quad jacks+ get beat. That could happen.
Looked at another way, Casinos are greed monsters that use an unlikely jackpot to lure customers to their tables which are raked steeply. There is no way under the stars that they would do this in a way that cost them money, or was even close to 0EV -- which would probably be many people's definition of "fair".
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