Progressive Let it Ride in Vegas

Hi --

Please forgive me if this question has already been asked/answered. I looked around, but could not find a specific answer.

Do you (or anyone) know what casinos in LV have the new Progressive Let it Ride with the Major, Minor bonuses? I found it a few months ago at Mohegan Sun in CT and liked it a lot. I am going to LV this week and would like to grow roots at one of those tables.

Thanks!
Larry

Quote: lml130

Hi --

Please forgive me if this question has already been asked/answered. I looked around, but could not find a specific answer.

Do you (or anyone) know what casinos in LV have the new Progressive Let it Ride with the Major, Minor bonuses? I found it a few months ago at Mohegan Sun in CT and liked it a lot. I am going to LV this week and would like to grow roots at one of those tables.

Thanks!
Larry

I'm almost sure I saw it at the Venetian earlier this year. I could be wrong; perhaps someone could check next time thru.

I have a question about the Progressive Jackpot limit.

Theoretically a progressive jackpot can reach a very large amount and such large sum could jeopardize the casino’s ability to meet its financial obligations. When and under what circumstance can the progressive jackpot be reset to zero?

Quote: 777

I have a question about the Progressive Jackpot limit.

Theoretically a progressive jackpot can reach a very large amount and such large sum could jeopardize the casino’s ability to meet its financial obligations. When and under what circumstance can the progressive jackpot be reset to zero?

This should not happen. At least in Washington, casinos are required to keep player supported jackpots in a separate account.

Quote: miplet

This should not happen. At least in Washington, casinos are required to keep player supported jackpots in a separate account.

I'm curious if Nevada and other jurisdictions have the same requirement as that of the Washington state.

Quote: 777

I have a question about the Progressive Jackpot limit.

Theoretically a progressive jackpot can reach a very large amount and such large sum could jeopardize the casino’s ability to meet its financial obligations. When and under what circumstance can the progressive jackpot be reset to zero?

In Nevada they can not reset a progressive jackpot until it hits. They are allowed to put a cap on it so it never goes above a certain amount (ie. They could set it so when it gets to $1 million it doesn't increase anymore). Also in Nevada the casinos must keep sufficient reserves for all of their jackpot liabilities. IF for some reason a casino had to pay a jackpot and they were insolvent, I think the gaming commission would end up paying it and recouping the money some other way.

Quote: 777

I have a question about the Progressive Jackpot limit.

Theoretically a progressive jackpot can reach a very large amount and such large sum could jeopardize the casino’s ability to meet its financial obligations. When and under what circumstance can the progressive jackpot be reset to zero?

Because the jackpot only rises from the base amount when money is bet... the increase in the jackpot is prepaid and would not jeopardize the casino's ability to meet it's financial obligations.

The base amount, while it could cause them to go negative on the game temporarily, is covered as part of the basic bet as well. There is simply no chance of this happening, and I would say this probably (although I can't say for sure because I haven't researched it) the case at all brick and mortar casinos in the US.. and most worldwide as well.

Somewhat second hand knowledge here, but a lot of those "big" jackpots, including some of the table games ones that could potentially reach millions, can and often WILL get paid out as an annuity.