Today LVA reported on the recent Station Casinos "Jumbo Jackpot" hit and
posted the following info: "More than 1,500 other Boarding Pass members
who were playing at the time she hit also reaped the benefits of her big
score, receiving $79,050 ($50 each) in free slot play."
I didn't know this information was publicly reported but it does provide
an opportunity to do a back-of-the-envelope EV. If there were in fact
exactly 1,581 people playing with a Boarding Pass at the time of the
jackpot hit (79,050/50) then the EV of the Jumbo Jackpot is
($149,394/1582)+$50=$144.43. Since this jackpot climbs about $125 an
hour, on average, sitting down when it was at $149,300 would guarantee
it would hit within five hours.
I don't have the mathematical skills to go much farther than this.
Roughly, I suppose you could divide that $144.43 by five to get an
hourly EV, though we all know that the probability increases as the
jackpot gets closer to $150K. If I'm playing 10/7DB at 100.17%, my
hourly EV is only $8.50, but tack on $144.43/5 ($28.88) and that turns
10/7DB into a 100.58% play. The 10/7DB progressive at Fiesta would
range into the 101% territory.
One other thought: does 1,581 players seem low to anyone else? Spread
among nine properties, that's only 160 players per property. Of course,
if that number's off, so are my ruminations...!
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