Kessler was offered $800k lump sum or $60k a year for 20 years, after a seven-figure slots win in Las Vegas.
One of the great characters of the game Allen ‘The Chainsaw’ Kessler is known for many things, including the best places in Vegas to get a discount meal. He is also known for having a Twitter account tracking all his poker results.
One thing is for sure, 2024 will end a winning year for Kessler, as he scooped a $1.2 million slots jackpot.
Omg this just fuckin’ happened!
Covers my entire wsop debacle with $1m to spare! pic.twitter.com/igjvArln93
— Allen Kessler (@AllenKessler) July 30, 2024
Kessler had been playing $125 a spin and was down around $12,000 when the jackpot happened:
For those of you who said i was bluffing, here is the big check!
Thanks @itsvegasmatt for the idea!
Bison @VanessaKade ! pic.twitter.com/VRc9N6LF5a
— Allen Kessler (@AllenKessler) July 30, 2024
An interesting wrinkle to the story is that jackpots over $500,000 do not pay out in full right away. They either pay a discounted lump sum or spread the cost of the jackpot over 20 years.
Kessler was offered $805,120 right away or $60,505 every year for 20 years. He polled his Twitter audience and it looks like the answer was clear cut – take the lump sum.
It looks like I have to take the annuity or a “discounted” lump sum. pic.twitter.com/Rp2Tib0jHX
— Allen Kessler (@AllenKessler) July 30, 2024
Ok math nerds.
I finally have the 2 options available for my 1.2m slot win.
Option 1 is $60,505 annually for the next 20 years.
Option 2 is a discounted although very generous lump sum offer of $805,120.
It seems like a slam dunk to take the $805K unless I’m missing…
— Allen Kessler (@AllenKessler) July 31, 2024
Shortly after celebrating his win, Kessler jumped right back into a poker tournament. If you follow him on Twitter it looks like he is enjoying his 15 minutes of fame, and good luck to him. He is one of the game’s great eccentrics.
Would you take the lump sum? Let us know in the comments: