There are 8 possible seven card straights; A 2 3…7, 2 3 4…8, . . . 8 9 T … A. For each of these there are 4 possible straight flushes for a total of 4*8 = 32 seven card straight flushes. Assuming 1 joker in the deck, there are C(53,7) = 154,143,080 possible deals. Therefore the probability of being dealt a 7 card straight flush is 32/154m or about once every 4.8 million hands. You might try persuading the casino to make it just any straight – then that will happen once every 9,400 hands
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I don’t know enough about progressive games and bonuses to answer the next question but I suspect the answer from a practical point of view is to never play for the jackpot alone. It’s like a lottery prize that has grown so big it’s plus EV to play it but aside from the exciting thought of possibly winning hundreds of millions of dollars with a relatively small investment, you are really throwing the investment away betting on a once in a many million chance of winning. But, the exciting thought may be worth it to you.
Edit: Just saw heehaw answer. How did he get nine straights?