This month’s "Promotion Pick of the Month" wasn’t chosen because it’s original (though it is), or because there’s a chance for someone to win a million dollars (though there is), or even because it’s happening at one of the glitzy new megaresorts on the Strip (though it is). What I like about the $1,000,000 Treasures of Venice is that it is one of the few promotions that is almost as much fun to watch as it is to win—and I really mean that.

Each evening at the Venetian, through April 23, three tickets will be drawn from a daily drum. The three names selected will participate in a three-minute slot tournament. The two losers will win $50, while the winner gets a choice: $150 or a chance to open 14 chests and win $1,000,000. For every chest successfully opened, the guest will have the option to walk away with the cash they have won before moving on to the next chest.

If this reminds you of the popular primetime game show Who Wants to be a Millionaire?, it’s no coincidence. And like the TV show, everyone anywhere near the stage is screaming advice to the finalist. It’s quite a show.

According to the inside line, the finalist has a nine-to-one chance of opening the first chest and winning $100, and a fout-to-one chance of opening the second chest and winning $250. After that, the cash awards grow, but the odds shrink. The 13th chest is worth $500,000, while opening the 14th (and final) chest wins the $1,000,000—but each of these is a one-in-ten shot. If (or more accurately, when) the finalist does overstep his reach, he receives a consolation prize of $50 to $64,000, depending on how far he got along the Treasure Chest chain.

All new and current Venetian Players Club members automatically receive a free ticket (no play required). Additional entries can be obtained with every 50 clubs points earned. And of course, the chance to yell advice to tonight’s finalist is free.