Online Poker Player Cashes $546,253.86 Bad Beat Jackpot

4th June, 2008

A little Vegas luck was definitely on one online poker player's side Tuesday morning. A Texas Hold'em player with the moniker "joeyvegas0711" popped UltimateBet's latest Bad Beat Jackpot, which had been sitting at a staggering $546,253.86.

The jackpot exploded at 10:38am on May 27th when joeyvegas0711 turned over an assumingly unbeatable four queens. But everything changed the moment babybaby16 flipped over a queen-high straight flush and swept the $35.44 pot in his direction.

For his losing hand, joeyvegas0711 took home $177,532.51 of the $546,253.86 Bad Beat Jackpot. BabyBaby16 added an additional $88,766.25 to the $35.44 pot and 270 other players shared another $88,766.25.

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 poker hands and placed into a constantly growing pot until someone hits the jackpot.

When a poker player loses a hand with four 8s or anything better, 65% of the jackpot is divided among Bad Beat Jackpot players (25% remains in the pot for the next jackpot and 10% is dedicated towards administrative fees). All poker players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred also win a piece of the jackpot.