The Bad Beat Jackpot at popular online poker room UltimateBet.com has awarded one young budding Texas hold’em player with over $170,000 only nine days after he had signed up for an account.
Nineteen-year-old Canadian player ‘Quantom47’ registered in hopes of making it big just like eleven-time World Series Of Poker winner Phil Hellmuth. However, the Alliston, Ontario, native didn’t have to wait long and when he lost a hand of Texas hold’em after his four Queens were crushed by the Royal Flush of fellow online player ‘Rusty_1’ late Tuesday night, he triggered a bad beat worth $534,132.
At ordinary Texas hold’em tables, ‘Quantom47’ would have walked away with nothing but thanks to UltimateBet.com’s Bad Beat Jackpot, he is now richer by $173,693. For his part, ‘Rusty_1’ walked away with $86,796 while 373 other players who had either participated in the same hand or were seated at a Bad Beat Jackpot table with identical stakes shared an additional $86,796.
At a Bad Beat Jackpot table, 50 cents is collected from qualifying poker hands and placed into a constantly growing pot until someone loses a hand containing four eights or better. Sixty-five percent of the jackpot is divided among players, 25 percent remains in the pot for the next jackpot and ten percent is dedicated towards administrative fees. All players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred will also be eligible for a piece of the jackpot.
Since November, UltimateBet.com’s Bad Beat Jackpot has skyrocketed to near record-breaking levels faster than ever due to the online poker site’s significantly expanded player base. Thanks to Cereus, the poker network UltimateBet.com joined late last year in an effort to provide its players with bigger promotions, enhanced features and tighter security, the number of players seated at Bad Beat Jackpot tables has grown significantly.