Not one, but two lucky losers hit Ultimate Bet's Bad Beat Jackpot within four hours of one another, raking in combined winnings of over $782,000.
On October 25th at 6:29 am ET, ITALIC lost a hand of Texas Hold'em to SMITH76. The reward for his loss? A cool $202,602.98. The winner of the hand collected $101,301.48, with seven players seated at the bad beat table and another 62 online players taking a share of the pot.
Then, not even four hours later at 10:12 am ET, HOSSDOG556 lost his hand to win $51,670.11. The remainder of the pot, which was over $103,000, was split between 182 players.
And that is the way it works at Ultimate Bet's Bad Beat Jackpot. It's traditional Texas Hold'em with an added twist. In addition to the rake, $0.50 from qualifying hands goes into a pot, which continues to grow until someone loses, actually wins...they make money when they lose?
When a player loses a hand with four 8's or better, 65% of the jackpot is divided between Bad Beat Jackpot players, with 25% reinvested for the next jackpot and 10% going toward administrative fees. And that's not all! Every player seated at a Bad Beat Jackpot table that features the same limit and game type as where the bad beat occurred also win a piece of the jackpot.
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