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Texas Hold'em Poker fans have even more reason to be fanatic after learning that 343 online poker players will share in UltimateBet's first Bad Beat Jackpot. The $112,885.50 jackpot popped on September 26th at 9:09pm EST when PeterGunzzz lost with four jacks to shaggy82's straight flush in a hand of Texas Hold'em Poker.
The loser of the hand earned $36,678.03 for his loss, the hand winner left the hand $18,339.01 richer, four players seated at the table where the bad beat occurred each earned $1,000, and 337 other online poker players who were seated at $.25-$.50 Bad Beat Jackpot tables shared in over $18,000.
When a poker player loses a hand with four 8s or anything better, 65% of the jackpot is divided among Bad Beat Jackpot poker players (25% remains in the pot for the next jackpot and 10% is dedicated towards administrative fees). But unlike similar offerings at other online poker sites, Texas Hold'em poker players don't have to be sitting at the table where the bad beat occurred to share in the prize money.
All players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred will walk away from their table with cash. In the case of UltimateBet's first Bad Beat Jackpot hit, all $.25-$.50 No Limit Hold'em Bad Beat Jackpot tables proved to be extra lucrative.
Bad Beat Jackpot is just like traditional Texas Hold'em Poker with an added jackpot component. In addition to rake, $0.50 is collected from qualifying hands and placed into a constantly growing pot until someone hits the jackpot. UltimateBet's Bad Beat Jackpot poker tables are categorized in red text in the game lobby. Full details on UltimateBet's new Bad Beat Jackpot game can be found at www.ultimatebet.com.