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*** WHAT IS A JACKPOT? ***
A Jackpot is MULTIPLE WIN OF THE BET
On Some Machines a Jack Pot is a MINI MAXI MAJOR MINOR AND GRAND. On a MACHINE a MINI JACKPOT can be $10.00 flat rate or a progressive. On another machine, hitting 5 of 5 on KENO can pay 810 to 1... that also is a JACKPOT and a far more valuable one than a Mini or Minor on many machines.
For our Channel... A "Jackpot is defined as: 1. A Surprise win at a large multiple of your standard bet. 2. A predetermined Jackpot amount as stated on the Machine. 3. Hitting the top 2 highest significant payouts on any single game in normal play, as an example, 6 of 7 or 7 of 7 in keno play. (3 of 4 would not be a jackpot, however 4 of 4 is considered a jackpot based upon percentage of payout). 7 of 10 may be a jackpot whereas 8/10 9/10 and 10/10 are significant amounts.
ANY HAND PAY is a Jackpot.... UNLESS, You are betting $10, $20, $25, etc etc. THEN you should get handpays in a normal play session as the Handpay is determined by IRS rules and not gaming norms. An Example here also is: WILD HORSE CASINO in Pendleton Oregon would Hand Pay anything over $500. For me it was annoying more than gratifying... However It was still a jackpot! (Thank you Sun and Moon - twice)
We will arbitrarily select 75 to 1 for keno as a minimum standard for a jack pot. (91 to 1 for a 4 of 4 KENO HIT on a standard Game King machine to as low as 75 to 1)
Wikipedia describes a JACKPOT, using the word in the definition, simply as: "A prize, such as a progressive jackpot".
Google definitions states: "a large cash prize in a game or lottery, especially one that accumulates until it is won."
This link will take you to the Webster Definition, https://www.merriam-webster.com/dictionary/jackpot
1. c(1): a combination on a slot machine that wins a top prize or all the coins available for paying out
(2): the sum so won
2: an impressive often unexpected success or reward
With all that said: A jackpot is that time when you win at gambling an amount that makes you happier than a normal "Line Win"
I have won many "Mini Jackpot" coins on the same game and it did not amount to the value of a single line win. The Jackpots were legit and advertised, I was "Happier" with the 5 of a kind line win!
Shiny Squirrel Thought of the day - When betting keno, 3 nickels bet will win 21000 nickels on a 7 of 7 hit in most casinos. 4 coins bet will win 28,000 nickels. WHICH ONE IS WORTH MORE "NET" TO THE GAMBLER when all is said and done?
My answer - Net value of the 21000 coins is $1,050.00
Net value of the 28000 coins is $1,400.00 - 25% tax of $350.00 = $1,050.00.
If you personal income tax rate, or W2G tax rate is higher than 25%.... the 3 coin bet is worth more to you.
I used 4 coins as an example because most Las Vegas casinos cap the Keno betting at 4 coins. Indian Casinos and other Casino operations allow for up to 20, 40, 100 coins bet in a single Keno Play. KEEP IN MIND - a 20 Nickel bet is just a 2 Quarter bet on another machine!!!
CHIPMUNK Thought/Question of the day:
Is a BONUS ROUND win a Jackpot? Please leave your comments.