Poker Bad Beat Jackpot Taxes
14 rows Lose any $20+ pot with quad tens or better and you'll take home 40% of the jackpot. Texas Hold’Em Bad Beat Jackpot General Rules 1. The Bad Beat Progressive Jackpot shall apply to the game of Texas Hold’Em only. To qualify for the Bad Beat, a hand of Four Jacks or better must lose to a higher ranking hand that must either be Four of a Kind or a Straight Flush or Royal Flush. Omaha Bad Beat Jackpots 1. The Main Jackpot will be 100% of the official Omaha Jackpot posted on the updated Poker Bad Beat Jackpot spreadsheet for Account 001 000 0000 26204. Eligibility: a. Game must be at full posted rake, have a minimum of 4 active players dealt into the qualifying hand, and the jackpot rake being collected. The winnings increase your adjusted gross income. Your losses decrease your taxable income. If you have no other itemized deductions and found $9,000 in losses that you could deduct, you would only.
- Rivers Casino Bad Beat Jackpot
- Bad Beat Poker Jackpot Odds
- Poker Bad Beat Jackpot Taxes Free
- Bad Beat Jackpot Rules
- What Is Bad Beat Poker
One possibility is to bet $30 in a $3-$6 Hold’em game and win 60% of a $15,000 jackpot, or $9,000. The casino would be required to issue a W-2G in that situation because the jackpot amount is 300 times the amount wagered and more than $600. Withholding would be required as well. Player 2 would have four of a kind, Kings but still lose to Player 1 who holds four of a kind, Aces. This is usually enough to trigger a bad beat jackpot for the hand. Normally the losing player.
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Introduction
'Bad beat' is a term that can mean having an outstanding chance of winning a bet, only to still lose. The term can be used in any form of gambling but is most commonly applied to poker. Many poker rooms offer a progressive jackpot for very unlikely bad beats. Various other rules are added to ensure that only surprising bad beats win. Below I present tables of bad beat probabilities, starting with the most liberal rules, and ending with the most stringent. The most stringent rules, the 'Bad Beat Type 3', are the most common, in my experience.
Following are the rules for a type 1 bad beat.
- Both the bad beat and winning hand must be the best possible combination of five cards. In cases where the same hand can be created multiple ways (for example player has AK and the board shows AAKKQ) the player's hole cards will take priority.
- Both the bad beat and winning hand must make use of both hole cards.
- A full house must be beaten by a four of a kind or higher.
The rules for a type 2 bad beat are the same as type 1, plus any four of a kind, whether the bad beat hand or winning hand, must contain a pocket pair.
The rules for a type 3 bad beat are the same as type 2, plus a full house may not make use of a three of a kind entirely on the board.
In my experience, is the most common format for bad beat rules is type 3. The additional rule for type 3 makes very little difference, compared to type 2.
The following table shows the probability of each bad beat hand under all three types of rules. The table is based on a ten-player game in which nobody ever folds. The probabilities are for any pair of players meeting the qualifying rules. If you want to know YOUR probability of winning, you should divide the probability in the table by 10.
Bad Beat Probabilities
| Bad Beat Hand | Type 1 | Type 2 | Type 3 |
|---|---|---|---|
| Any full house | 0.00203329 | 0.00050305 | 0.00049508 |
| Full house, three 3's or higher | 0.00189512 | 0.00046978 | 0.00046204 |
| Full house, three 4's or higher | 0.00175159 | 0.00043444 | 0.00042728 |
| Full house, three 5's or higher | 0.00160333 | 0.00039706 | 0.00039028 |
| Full house, three 6's or higher | 0.00144965 | 0.00035741 | 0.00035145 |
| Full house, three 7's or higher | 0.0012936 | 0.00031767 | 0.00031266 |
| Full house, three 8's or higher | 0.00113492 | 0.00027775 | 0.00027355 |
| Full house, three 9's or higher | 0.00097379 | 0.00023772 | 0.00023445 |
| Full house, three T's or higher | 0.00081113 | 0.00019759 | 0.00019503 |
| Full house, three J's or higher | 0.00064763 | 0.00015708 | 0.00015509 |
| Full house, three Q's or higher | 0.00048533 | 0.00011838 | 0.00011682 |
| Full house, three K's or higher | 0.00032561 | 0.00008130 | 0.00008033 |
| Full house, three A's or higher | 0.00016964 | 0.00004608 | 0.00004579 |
| Full house, aces full of 3's or higher | 0.00016004 | 0.00004350 | 0.00004322 |
| Full house, aces full of 4's or higher | 0.00014986 | 0.00004080 | 0.00004052 |
| Full house, aces full of 5's or higher | 0.00013898 | 0.00003797 | 0.00003763 |
| Full house, aces full of 6's or higher | 0.00012749 | 0.00003504 | 0.00003469 |
| Full house, aces full of 7's or higher | 0.00011580 | 0.00003233 | 0.00003203 |
| Full house, aces full of 8's or higher | 0.00010347 | 0.00002957 | 0.00002925 |
| Full house, aces full of 9's or higher | 0.00009067 | 0.00002673 | 0.00002645 |
| Full house, aces full of T's or higher | 0.00007714 | 0.00002383 | 0.00002359 |
| Full house, aces full of J's or higher | 0.00006286 | 0.00002064 | 0.0000204 |
| Full house, aces full of Q's or higher | 0.00004793 | 0.00001738 | 0.00001721 |
| Full house, aces full of K's or higher | 0.00003230 | 0.00001408 | 0.00001402 |
| Any four of a kind | 0.00001601 | 0.00001086 | 0.00001081 |
| Four 3's or higher | 0.00001437 | 0.00000996 | 0.00000992 |
| Four 4's or higher | 0.0000127 | 0.00000900 | 0.00000902 |
| Four 5's or higher | 0.00001099 | 0.00000805 | 0.00000804 |
| Four 6's or higher | 0.00000934 | 0.00000705 | 0.00000707 |
| Four 7's or higher | 0.0000078 | 0.00000613 | 0.00000611 |
| Four 8's or higher | 0.0000064 | 0.00000525 | 0.00000519 |
| Four 9's or higher | 0.00000519 | 0.00000439 | 0.00000435 |
| Four T's or higher | 0.00000414 | 0.00000359 | 0.00000357 |
| Four J's or higher | 0.00000317 | 0.00000287 | 0.00000285 |
| Four Q's or higher | 0.00000246 | 0.00000226 | 0.00000224 |
| Four K's or higher | 0.00000193 | 0.00000180 | 0.00000179 |
| Four A's or higher | 0.00000157 | 0.00000149 | 0.00000147 |
| Any straight flush | 0.0000012 | 0.00000122 | 0.00000121 |
| Straight flush 6 high or higher | 0.00000105 | 0.00000107 | 0.00000105 |
| Straight flush 7 high or higher | 0.00000089 | 0.00000091 | 0.00000090 |
| Straight flush 8 high or higher | 0.00000073 | 0.00000074 | 0.00000074 |
| Straight flush 9 high or higher | 0.00000056 | 0.00000059 | 0.00000058 |
| Straight flush T high or higher | 0.00000041 | 0.00000043 | 0.00000042 |
| Straight flush J high or higher | 0.00000028 | 0.00000027 | 0.00000027 |
| Straight flush Q high or higher | 0.00000012 | 0.00000012 | 0.00000012 |
Methodology
The above tables are the result of random simulations of about 2.5 billion rounds each.
Further Reading
The video poker variant World Series of Poker - Final Table Bonus features a bad beat jackpot. See my section on that game for more information.
Brian Alspach has a very good page on Texas Hold'em, including a section on the Bad Beat Jackpot at Party Poker.
Written by: Michael Shackleford
Station Casinos has now paid out pieces of a once-disputed $124,252 bad beat jackpot hit at Red Rock Casino, Resort & Spa in July of last year. Plus, it made sure nothing like this will ever happen again by putting its bad beat jackpot promotion on ice.
Last week, Station Casinos spokesperson Lori Nelson told the Las Vegas Review-Journal newspaper the players involved have been paid out in accordance with a February Nevada Gaming Control Board ruling in their favor:
“The player-funded bad-beat jackpot had always been ready for payment pending the (Gaming Control Board) decision. The three players who filed a claim were paid in accordance with standard Gaming Control Board procedures. Additionally, we have been distributing jackpot awards to all of the qualified poker players who participated, not just the three who filed a claim.”
Station Casinos cancels bad beat promotion
Nelson also confirmed Station Casinos discontinued the Jumbo Hold ‘Em Poker Progressive Jackpot promotion. She also claimed it is now running other promotions “equally and in some cases richer,” than the bad beat.
Issues surrounding Stations’ bad beat jackpot began when when Len Schreter‘s straight flush beat Avi Shamir‘s lower straight flush at Red Rock on July 7, 2017.
The hand normally would have triggered the jackpot, earning Shamir $62,126 for taking the beat and Schreter half that for dishing it out. Plus, Station Casinos’ pays out a percentage of its Jumbo Hold ‘Em Poker Progressive Jackpot to players in all five of its Las Vegas-area poker rooms when a qualifying hand is hit. Therefore, the 78 people playing at Station Casinos poker room at the time should have been in line for a $565 payout.
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However, Schreter exposed his hole cards after the final community card, but before the hand’s final betting round. As a result, Red Rock invalidated the hand and refused to pay out the jackpot.
Red Rock executives concluded exposing cards is the same thing as entering a discussion of the hand. Bad beat jackpot rules clearly state discussion of a hand during play may invalidate the jackpot.
The players claimed Schreter’s actions happened so late, they had no impact on the outcome of the hand. However, Red Rock still refused to pay and players asked the Gaming Control Board to review.
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Board investigator Bill Olliges was call in, and after an investigation, he ruled in the players’ favor. Olliges said Schreter was certainly guilty of bad poker etiquette. However, his actions did not change the outcome of the hand.
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In response, Station Casinos asked the board to hold a hearing on the matter.
Gaming Control Board Audit Supervisor Chan LengsavathWhat does blackjack pays 6 to 5 mean. presided over the hearing and concluded Stations should pay. However, the case was sent back to the hearing officer in January after board member Terry Johnson said Lengsavath’s report left him with more questions than answers.
Finally, on February 7, the board affirmed Lengsavath’s decision to award payment to the players. Station Casinos had 25 days to appeal the ruling to Clark County District Court. However, Nelson also told the Las Vegas Review-Journal the organization decided not to appeal. Instead, it started paying out the proceeds of the jackpot to the players involved.
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Station Casinos’ poker room traffic down?
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Having to wait more than eight months for their money appears to have left a bad taste in some players’ mouths.
The Las Vegas Review-Journal spoke to one who collected her $565 payout. She then returned to playing in a Station Casinos poker room. However, she soon ran into another dispute over a high-hand promotion. When the room refused to pay, she decided not to play there anymore.
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Others involved in the bad beat jackpot controversy told reporters they were going to Station Casino poker rooms less often.
Nelson refused to comment on whether traffic at the rooms was down since the incident. However, Station Casino players told the newspaper numbers have been down slightly, but noticeably, ever since.