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An online poker player who signed up for a free UltimateBet account just nine days ago in hopes of winning big like 11-time WSOP bracelet winner Phil Hellmuth has discovered that losing is just as lucrative. UltimateBet today announced that a 19-year-old online Texas Hold'em player from Canada has won $173,693.20 playing Texas Hold'em at UltimateBet's Bad Beat Jackpot tables. (check out www.ultimatebet.com)
QUANTOM47, a 19-year-old Texas Hold'em player from Alliston, Ontario, Canada who registered his UltimateBet account just nine days ago, 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 UltimateBet's Bad Beat Jackpot tables, it's a completely different story. QUANTOM47 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 just like traditional Texas Hold'em poker 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% of the jackpot is divided among Bad Beat Jackpot players (25% remains in the pot for the next jackpot and 10% is dedicated towards administrative fees). All players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred also win a piece of the jackpot.
Since November, UltimateBet has seen its Bad Beat Jackpot skyrocket to near record-breaking levels faster than ever as a result of the online poker site's significantly expanded player base. Thanks to CEREUS, the poker network that UltimateBet joined late last year in an effort to provide its players with bigger promotions, enhanced features and tighter security, the number of players seated at Bad Beat Jackpot tables has grown significantly.
Full details on UltimateBet's Bad Beat Jackpot game can be found at ultimatebet.com.
