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MIAMI, Florida -- If you've ever dreamed of putting a large dent in your mortgage, buying a car for every season, taking a once-in-a-lifetime vacation, or simply paying your own way into this year's
World Series of Poker Main Event more than just once, this could be your week. Absolute Poker and UltimateBet, two leading online poker sites, today announced that their Bad Beat Jackpot has cracked $600,000.
Since the inception of the Bad Beat Jackpot at Absolute Poker and UltimateBet 23,432 players have shared in a staggering total of $39,515,899.93 in jackpot dollars; so far in 2009, $8,455,556.65 in Bad Beat Jackpot winnings have been handed out across both online poker rooms. When the next Bad Beat Jackpot hits, this figure will break the $9 million mark.
"Someone's about to pocket another huge jackpot," stated Annie Duke, UltimateBet's Cardroom Consultant. "Imagine winning more money than most people make in a year of their working lives. We're ready to award hundreds of thousands of dollars in jackpot money by losing a hand of Texas Hold'em. It's unbelievable."
Bad Beat Jackpot is just like traditional Texas Hold'em poker with an added jackpot component. $0.50 is collected from qualifying poker hands and placed into a constantly growing pot until someone hits the jackpot.
When an online poker player loses a hand with four eights or anything better while seated at a Bad Beat Jackpot table, 65% of the jackpot is divided among Bad Beat Jackpot players including those seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred.
Ever since both online poker sites moved to the CEREUS Poker Network in late November 2008, Bad Beat Jackpots worth hundreds of thousands of dollars have been a regular occurrence.
At the $600,000 mark, the loser of the Bad Beat Jackpot hand stands to take home over $195,000. The winner of the hand will walk away with $97,500. An additional $1000 will be won by every other player seated at the table where the bad beat occurred and another $97,500 distributed amongst all players at tables playing the same game type and stakes. As the Bad Beat Jackpot grows, those numbers rise with it.
|Ultimate Bet is one of the most respected poker sites online and is endorsed by professionals like Annie Duke and Phil Hellmuth. The site offers Texas Hold'em, Omaha, Omaha 8/b, 7 Card Stud, 7 Card Stud 8/b, Crazy Pineapple, Crazy Pineapple 8/b, Triple Draw, Royal Hold'em. Table limits range from penny games up to $300-600.|
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