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Poker badbeat Jackpot Over 1 Million Dollars
Posted 3/1/11 : A million dollars for a bad hand can't be....well, bad!
A record badbeat bonus is being claimed by online poker site UB.com on the Cereus Network, where the numbers have gone over a million dollars and counting.
Joe Sebok, one of the network pros, blogged this week: “It’s an insane amount of money with our Bad Beat Jackpot hitting a million bucks, and a few people are going to make a lot of money in an instant. It's getting to the point where there just isn't anything sensible to say. We are pumped to be in this position, to set this record, and to make some of our players very, very happy."
The loser in a bad beat hand carrying a million dollar bonus would take home around $325 000, whilst the winner of the hand would pick up a check for $162 500. Other players in action at the bad beat table when the bonus hit would collect $1 000 apiece, Sebok explained. Finally, another $162 500 (less the $1 000 to each of the players at the bad beat table) is distributed amongst all players at tables playing the same game type and stakes.
The last time the BBJ reached these levels was two years ago, when on June 8th a player from Pasadena lost a Texas Hold'em hand whilst the jackpot stood at $996 115. He took home an impressive $320 000...for losing!
Players elect to play at a bad beat jackpot table for a small additional charge, hoping that if they lose a hand it will be with quad eights or anything higher, thus qualifying for the bonus.
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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.
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.
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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