The CEREUS Poker Network has paid out over $32 million dollars in Bad Beat Jackpots to players at UltimateBet.com and AbsolutePoker.com since the game was launched in late-June of 2007.
The historic figure was reached on January 31 when online player ‘HIPLO’ pocketed $132,880 after losing a hand of Texas Hold’em holding four nines while playing at AbsolutePoker.com.
A player wins a piece of the jackpot if they lose a hand of Texas Hold’em poker holding four eights or better while seated at a Bad beat Jackpot table at UltimateBet.com or AbsolutePoker.com. To help build the Bad Beat Jackpot, 50 cents is collected from qualifying hands. This pot keeps growing until someone hits a qualifying bad beat at which time a large percentage of it is distributed to the victim along with other competitors in the game.
CEREUS revealed that it has paid out a total of $32,665,751 in Bad Beat Jackpots since June of 2007 to 15,002 players at both online poker sites. It stated that it has handed out $1,605,573 in Bad Beat Jackpot winnings since January 1 with $325,212 being the single largest Bad Beat Jackpot payout to a single player.
CEREUS has paid out $16,435,623 to the recipients of bad beats while $8,272,211 has gone to hand winners of qualifying bad beats. In addition, $7,957,915 has been shared by players seated at the same table where the bad beat occurred or at tables with the same stakes.
AbsolutePoker.com and UltimateBet.com both reside on the CEREUS Poker Network, which was launched on November 25 after more than a year of development. The new poker platform is backed by leading technology and an around-the-clock Security Center delivering a watertight gaming experience for everyone at the tables.