Casino Owner Plays Picasso Poker, Sues Lloyd’s
When Lloyd’s of London ensured a Picasso painting owned by Steve Wynn, they likely didn’t expect to get a claim request for the painting with the reason “Poked Elbow Through Painting”. That was what happened, as the owner of the Wynn Las Vegas accidentally poked a hole with his elbow through the Picasso, and experienced an immediate drop in value of $54 million dollars. The painting become damaged soon after Wynn had decided to sell it for $139 million…
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Useful poker information:
- FIXED LIMIT - A betting structure where the amount of each bet is a specific fixed quantity. Usually specified as A-B, where A is the amount to bet in the first few betting rounds and B (larger than A) is the amount bet in the later rounds. Related terms: FLAT LIMIT, NO LIMIT, POT LIMIT, SPREAD LIMIT.
- WHEEL - A-2-3-4-5. Usually discussed in the context of lowball where it is the best possible hand. Can also refer to a 5-high straight in high games. Also: BICYCLE.
- SHARK - A good/crafty player often posing as a fish early in the game.
- FREE CARD - A card dealt after all players checked in a betting round.
- MILES OF BAD ROAD - Three of a kind. Prefixed with a number, 3*<N>, to indicate 3 <N>s. Thus "24 miles of bad road" is 3 eights, etc. (This obviously doesn't work for face cards.)
- UNDERDOG - Before all the cards are dealt, a hand that does not figure to be the winner. Ant: FAVORITE.
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