The CEREUS Poker Network, home of leading online poker sites AbsolutePoker.com and UltimateBet.com, has handed out in excess of $32 million in Bad Beat Jackpots to just over 15,000 players since 2007.
On January 31, AbsolutePoker.com player ‘HIPLO’ pocketed $132,888 after losing a hand of Texas Hold’em holding four nines to take the total figure CEREUS has awarded players to $32,665,751.
AbsolutePoker.com introduced Bad Beat Jackpots to its line-up of online poker games in June of 2007 followed by UltimateBet.com a few months later. Since then, both online poker sites have become two of the most popular destinations for players.
CEREUS stated that it has awarded $16,435,623 to recipients of bad beats, $1,605,573 since the beginning of the year, and $8,272,211 to hand winners of qualifying bad beat hands. The highest Bad Beat Jackpot payout to a single player amounted to $325,212 while $7,957,915 has been shared between competitors seated at a table where a bad beat occurred or at tables with the same stakes.
The Bad Beat Jackpot is played just like a regular hand of Texas Hold’em but rewards players that lose holding four eights or better while seated a participating table. To help build the jackpot, 50 cents is collected from qualifying hands at Bad Beat Jackpot tables and this amount keeps growing until someone hits a qualifying bad beat, at which time a large percentage of the pot is distributed between the victim and other participants in the game.
AbsolutePoker.com and UltimateBet.com both reside on the CEREUS Poker Network, which 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 to deliver a watertight gaming experience to players.