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2 Huge Badbeat jackpots Paid Out

The weekend saw over $2 million paid out in online poker badbeat jackpots at just two networks, Merge and Cereus.
On Saturday the Merge network reported that its $1.2 million bad beat jackpot had been won the night before, distributing $417 396 to player Ruggio and $208 698 to a Chicago student working his way through college and playing on the using handle Aelani. Seven players took money away from the pot, which has since been re-generated and is now at over $250 000. The big win took place at the Carbon site.
The Merge badbeat jackpot was introduced in mid-2008, and this is the first occasion on which it has been won. Carbon Poker spokesperson Jay Manning, who revealed that the distribution awarded 35 percent to the biggest loser, 17.5 percent to the winner of the hand, and 17.5 percent among the other players in the hand. The Merge Gaming Network takes 10 percent, and the remaining 20 percent is used to re-seed a fresh jackpot.
At Merge, the jackpot is won when four sevens and beaten by a superior hand, with both the winning and losing hands using both players’ hole cards. If the hand is four of a kind, a player must hold a pocket pair. At least four players must have received cards in the hand, which must have contributed 50 cents or more in rake. The hand has to reach showdown with at least two players.
Over at the Cereus online Poker network, Absolute was the scene for the award of a more than $813 000 bad beat jackpot - the latest in a series of major bad beats paid out on the network.
A 65-year-old online poker player from Pennsylvania using the nickname HDCowboy enjoyed the best loss in his poker career, picking up the 'winners' $264 419 just before Valentine's Day when he lost a Texas Hold'Em hand, with 4 eights to the quad Kings of opposing player RangerXBob, who picked up $132 996. Five other players at the virtual table each received $1,083 in cash. Absolute Poker generously capped the night's largesse by presenting 1 028 other players at the Badbeat Jackpot tables with almost $83 apiece.
Bad Beat Jackpot games are traditional Texas Hold'em poker with an added jackpot component. 50 cents is collected from qualifying poker hands and placed into a progressively increasing pot until a table meets the required criteria for the award and the jackpot is paid out. At Absolute, the criteria is when a player loses a hand with four 8s or anything better.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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