chaunceyb3 Wins & Loses $250,000 In 15 Minutes- Rio Las Vegas Trip Report

I just finished the trip report write-up on my blog.

https://wizardofvegas.com/member/chaunceyb3/blog/#post1134

tl;dr- I had $250,000 in equity in a Monopoly Millionaire promotion at the Rio All-Suite Hotel & Casino, but was forced to gamble in a winner-take-all situation for $1,000,000!

Damn, that kinda sucks that they didn't allow some kind of equity chop, although I'm sure 4x $250k doesn't sound as good to the marketing dept as 1x $1m.

Yeah definitely unfortunate you didn't get it. I probably rather be knocked in an early round if I wasn't going to win.

Nice find in the high limit room. Good to know they have that game there too.

How did tiles at the Bellagio go?

Quote: sodawater

How did tiles at the Bellagio go?

It was fun! I played about 30 minutes, banking every other hand. You can bank for 110% of your last bet. Won or pushed every hand for about 10 rounds, then decided to book the win. One of those rare undefeated sessions!

Quote: chaunceyb3

It was fun! I played about 30 minutes, banking every other hand. You can bank for 110% of your last bet. Won or pushed every hand for about 10 rounds, then decided to book the win. One of those rare undefeated sessions!

dream session. 110% bank i am so jealous

Yeah, kind of a glass-half-full situation, Chauncey, right? They paid for you to attend the finale, gave you 10K, gave you a big time all weekend, and you almost won, so IMO not a lose, but hard to see past being so close to the million you could taste it. Especially cruel (bad karma) when you have to decide publicly how you're going to spend it before you win it. I get why they put you on the spot, but that doesn't change making the loss harder. At that point, in your head, it is a loss, not a non-win.

How would one make a deal in this situation? Escrow? Lawyers on retainer?

Congrats on the $10k!

Quote: djatc

How would one make a deal in this situation? Escrow? Lawyers on retainer?

When they ask you what you'll do with it if you win, openly and boldly declare that you'll share some amount if it with anybody else that makes the same declaration.

No actual protection, but it'll be fun to watch the awkwardness if they want to welch.

Thanks for sharing Chauncy, congrats! I don't know too many people (actually none now that I think about), that had a 1 in 4 chance of winning a cool $1M. What a thrill that had to be!

Quote: beachbumbabs

Yeah, kind of a glass-half-full situation, Chauncey, right? They paid for you to attend the finale, gave you 10K, gave you a big time all weekend, and you almost won, so IMO not a lose, but hard to see past being so close to the million you could taste it. Especially cruel (bad karma) when you have to decide publicly how you're going to spend it before you win it. I get why they put you on the spot, but that doesn't change making the loss harder. At that point, in your head, it is a loss, not a non-win.

It's amazing how most people didn't know their starting equity was over $71,000. I bet a nice $25,000 cash offer to everyone would've ended it, and CET saves $650,000. I'm certainly risk averse enough that I would consider accepting that offer.

I consider it a loss of the starting equity (but for the sake of starting a WoV thread, I put $250,000). I guess I could have also said I won and lost $500,000 since there were only 2 "Community Chest" picks left on the board in Round 2 for Julie and I. One of the two contained a million dollars.

Quote: djatc

How would one make a deal in this situation? Escrow? Lawyers on retainer?

Congrats on the $10k!

14 finalists from 14 different gaming markets makes it extremely difficult for dealmaking. It would've had to been a verbal handshake deal about 5 minutes before Round 1, with some kind of video evidence. The rounds flew by so quickly that there was no time once the finale started.

Quote: Venthus

When they ask you what you'll do with it if you win, openly and boldly declare that you'll share some amount if it with anybody else that makes the same declaration.

No actual protection, but it'll be fun to watch the awkwardness if they want to welch.

Haha, reminds me of the game show Friend or Foe.

Quote: Venthus

When they ask you what you'll do with it if you win, openly and boldly declare that you'll share some amount if it with anybody else that makes the same declaration.

No actual protection, but it'll be fun to watch the awkwardness if they want to welch.

I can't speak for Nevada, but that would be a legal contract in the State of Ohio, with a number of independent third-party witnesses, no less.

Yeah, too bad you couldn't do the equity chop. But that would almost never work unless all four finalists were WoV members :)

That wouldn't work then either

Should've sold your chance for $4,100 to a WoV member

When they asked how you would spend you should've replied

"hookers and blow, lots of hookers and blow"