Winning a million dollars in Las Vegas is not that hard to do… really.
Why don’t more people win that elusive, perceptually life changing amount? The answer is simple... we’re just not that lucky.
Consider this… if you start with a $10 bet and double your bet each time ($10, $20, $40, $80 etc) after 17 consecutive wins you’ll have $1,310,720! Two big if’s need to be on your side to make this reality…
First, you need nerves of steel, after winning your 10th bet you’d be up $5,110 (less your $10 start)… after the 14th win you’d have $81,920 and after the 16th win you would have to risk $655,360! It takes some pretty big you know whats for a $10 better to risk that kind of money.
Second and most importantly you’d have to be really, really lucky to score 17 CONSECUTIVE wins. But this does happen and more often than you might think.
The odds of this happening vary depending on your game of choice… In Baccarat it’s 1 in 103,996, for Blackjack players it’s 1 in 148,367 and on the double zero Roulette Wheel it’s 1 in 328,616.
When you consider that the odds of lining up 5 Eagles on the Megabucks Machine is about 1 in 48 million, winning a million dollars on the tables doesn’t seem so unrealistic. Elmer Sherwin will testify that 1 in 48 million is not impossible in fact he’s done it twice… that’s right he hit the Megabucks not once but TWO times.
As they say in the military... stuff happens.
However the casino’s have figured out that some players will be extremely lucky and have built in a mechanism thats designed to protect their bank account… it’s called “Table Limit”. While the “Law of Large Numbers” works in the casinos favor (more people will lose than win). A small run by a few lucky players could make for a bad quarter or even break the bank if it were not for the “Table Limit”.
At Caesars Palace the “table limit” for us regular non high-rolling folk is $50,000. This means they’d take your 12th bet ($40,960) and pay you $81,920 if you win. The pit boss might even make an exception and take one more bet from you.
But most likely the casinos “table limit” would prevent you from doubling your bet all the way to $1,310,720.
But if you win… remember who told you how easy it was to “Win a Million Dollars in Vegas”!
Next month here on Around Hawaii we’ll talk about a local record that has not been broken since 1989, Stanley Fujitake’s historic roll at the craps table… 3 hours and six minutes. ‘Till then Good Luck and get more Kimo’s Vegas at http://www.midweek.com/ and at http://www.kimosvegas.com/.
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