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Party Poker breaks the badbeat record

Thursday saw a new world record for an online poker Bad Beat Jackpot created at Party Poker.com when a bad beat payout on an online table reached $1 013 381 and change, surpassing the previous record of $992 000. 
 partypoker
The Bad Beat is a jackpot won on special tables if players lose with a hand featuring four of a kind, 8’s or better, and this is what happened to online player ‘Judith75’, from Germany when she hit quad 9’s this week. With such a hand it has to be very hard to think that you will lose the pot but ‘Hiyall’ from Scotland was sitting with the absolute nuts – a royal flush - a hand that is regarded by many as a 649/739/1 chance. The carnage on the table continued, however, as another player ‘Shoulderguy,’ also from Germany, revealed a full house!
 
The win came on a $0.50/$1 table and the table pot itself was only worth $24. With the quad 9’s being beaten by the royal flush, Judith75 won $354 683.57, whilst hand winner Hiyall scooped $177 341.79 + $24 from the pot. The other players at the table won $22 167.72.
 
PartyPoker's Bad Beat jackpot is only available on specially designated tables. Of the distributed amount, 50 percent goes to the loser of the hand who is subject to the bad beat, 25 percent to the winner, and the remaining 25 percent is split between the other seated players who took part in the hand. Players who sit out the hand are not rewarded. In the current record-breaking case ten players benefited.
 
The big money was flowing elsewhere in the Party Gaming group, too; One lucky player won $1.06 million on the Godfather slot at PartyCasino.com, while on the 8th August PartyBingo.com and ITVBingo.com launched their first GBP1 million jackpot game.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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