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19 year old hits Ultimate Bet BadBeat

A 19-year-old Canadian poker novice who signed up for a free UltimateBet account just nine days ago in hopes of emulating youthful big winners in Internet poker like Phil Hellmuth has discovered that losing can be just as lucrative.
The unidentified player is the latest recipient of UltimateBet's Bad Beat jackpot, taking home $173 693.20 after losing in Texas Hold'em games at UltimateBet's Bad Beat Jackpot tables.
The Canadian lost a hand of Texas Hold'em when his Quad Queens were crushed by RUSTY_1's Royal Flush. At ordinary Texas Hold'em tables, a loss like that would leave even the most hardened poker player feeling devastated. But at Bad Beat Jackpot tables, it's a completely different story.
Playing as QUANTOM47, the young Canuck secured $173 693.20 for his loss while RUSTY_1, who dealt the final blow, walked away with $86 796.60.
373 other players who either participated in the hand or were seated at a Bad Beat Jackpot table with the same stakes shared in an additional $86 796.60.
Bad Beat Jackpot is a traditional Texas Hold'em poker game 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 an online poker player loses a hand with four 8s or anything better, 65 percent of the jackpot is divided among Bad Beat Jackpot players (25 percent remains in the pot for the next jackpot and 10 percent is dedicated towards administrative fees). All players seated at a Bad Beat Jackpot table

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

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Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

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Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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