Bad Beat Jackpot..are they making money off this?

[Sixth_Rule]

does party make, lose or brake even doing this?
so do they
1. give away the 50'000 starting money and add all rakes to the jackpot

2. put just enough Bad Beat rake aside to be able to pay the $50'000 the next jackpot

3. take a percentage of the bad beat jackpot that more then covers the $50'000 starting value and thus make a little extra rake on these hands



i just saw that around 130 tables are bad beat tables
lets say around 100 of those actually contribute to the rake. at 60 hands an hour thats 6000
does the jackpot raise that much in an hour?

my real question is...... is there an +EV from playing them??

[daryn]

no. jackpots are for suckers.

[Pokeraddict]

They have been taking a 20% cut in all the jackpots up until now since beta was over. Although I have not followed it closely I cant imagine the $50,000 was any more then the 20% they have been taking anyway. Keep in mind Party rakes $50,000 in what.... an hour?

[daryn]

actually, i'm clearly wrong. i should have said, most of the time, jackpots are for suckers.

sometimes the jackpot can be so big that it's +EV to play.. but i see it as a rare situation.

[kevin1125]

i don't think they (pp) would give away anything, if they do they just give BACK a small pencentage of what they have taken.

[uaw420rook]

I hit it last night for 1800. I was a sucker that got very lucky. I just cant resist the softness of these tables. 50% table average seeing the flop. perfect tables for ssh in my experiance. big pots galore.

[kevin1125]

think about the odds: four 8's beaten by four of kind or better. it might happen once a month.

[Boozer]

PP J/P's have gone from bad to worse - dunno what clueless, moronic, over-payed, half-witted imbecile decided on their latest campaign, but all they are doing is damaging poker by their greed. 10% for Administration fees? oh please - give me a break.

The poor souls that play these J/P games are donating an extra 50 cents per won pot, with little chance of ever getting it back. The problem is, whoever does win it, will win that much they will take the money and buy a big-ticket item - like car, deposit on house etc and none of it will be returned to poker. If PP kept the J/P's smaller and easier, more money would be spread around and people would be more likely to return it back to poker.

Very, very bad for poker players and good for PP's bank balance. Games like this can cause new poker players to tap out and never return. Sad day for poker.

[BigBluffer]

I'd like to try to figure out empirically what is the likelihood of hitting the PP BB Jackpot. Basically, you have to have quad 8's or better beaten; you and the guy who beat you must use both hole cards; and the hand must go to a showdown.

I have checked my PokerTracker stats (on the Misc. Stats tab) and I have never been in a hand where I would have won or lost a hand under those conditions.

I started playing at Paradise and put in almost 60,000 hands before I began playing at Party where I've put in almost 55,000 hands.

At Paradise I won 22 of 22 hands where I had quads. Of those 22, I had pocket 88 or better in 13 of them. I also had 2 straight flushes, both of which started with two straight flush cards in the hole. So, at Paradise only 15 hands out of almost 60,000 would have even qualified if I had been beaten.

At Party, I won 20 of 20 hands where I had quads. Of those 20, I had pocket 88 or better in 12 of them. I had no straight flushes. At Party, only 12 hands out of almost 55,000 would have qualified if I had been beaten.

In total only 27 hands out of about 115,000 would have qualified for the BB JP if they had been beaten. But I have not lost a single hand which would have qualified.

I also checked those qualifying quads and straight flushes and discovered that I have never put a qualifying bad beat on someone else. In other words, in those 27 hands that I won that would have qualified, the person I beat never had a hand to qualify for the BB JP.

So, that's 115,000 without a winning or losing BB hand. Anyone else care to add their own stats to this?

Considering the extra 50 cents per hand, and considering the 10% "administrative fee", is it ever worth it to play this promo? Maybe if the games are extra fishy?

Thanks.

[daryn]

gotta love how party comes up with this jackpot idea, and all of a sudden everyone decides they want to become mathematicians and calculate odds on hitting it, so they can somehow make a "smart play".