There are two ways that the average low limit hold 'em player can score a big win in the game. One way is to win or place high in a hold 'em tournament. The other way is to hit a jackpot. You hit a jackpot by making a very good hand, such as A^A^AVJ^J*, and then losing with it! Actually, it will look like this:
You hold The board is Another player holds J*J* A4A*AV945* A*Q?
You have a full house (aces full of jacks), and your opponent has four aces. You also must fulfill six other criteria with this hand:
1. You made the minimum high hand required, which is aces full of jacks or better (so this would also work if you held pocket queens or kings).
2. There were four or more players dealt into the hand.
3. There was a minimum of $20 or $30 in the pot, depending on the poker room rules.
4. You, as the loser of the hand, are playing both of your hole cards.
5. The winner of the hand has made four-of-a-kind, or better.
6. The winner's kicker beats the board.
Before I go any further, I want to make a few comments about jackpots that I find very important. Any time there is money involved in something, there's the possibility of its misuse, abuse and plain of outright theft. Here are a few things that I want you to know about jackpots:
1. The money that goes into a jackpot pool comes from the players. $1 from every hand played that reaches a certain threshold is taken out of the pot and set aside for the jackpot. It's your money! It does not belong to the casino or the poker room. It is not the property of the poker room manager. Casino management cannot touch it. The money in the jackpot is a side bet among the players, collected $ 1 at a time.
2. Jackpot money has, all too often, been very mismanaged. When the Grand Casinos opened in Biloxi
nd Gulfport, Mississippi, they had jackpots. They also had a notice on the poker room wall that they were taking a "15% administrative fee" out of the jackpot for the costs of administering it (including counting the jackpot money, physically protecting it, and doing the paperwork associated with it).
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