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New UltimateBet player hits $790k bad beat jackpot
Since UltimateBet joined forces with the CEREUS poker network, the bad beat jackpot mushroomed to just under $790,000 before it got won on Thursday morning.
An online player known only as square route hit the winner's share of the bad beat, worth over $250,000, just days after signing up for his new account. Playing Texas Hold'em poker on an UltimateBet jackpot table, square route managed to lose a pot holding a straight flush, making it the most profitable loss of his life.
The UltimateBet bad beat can be won by any player playing at a jackpot table who loses a pot while holding four of a kind, eights or better. If this happens the jackpot pool is split up among the players. The formula used by UltimateBet for cutting up the booty is as follows:
- 65% is divided among Bad Beat Jackpot players
- 50% of it goes to the loser of the bad beat hand
- 50% of it gets divided up among the other players
- 25% remains in the pot for the next jackpot
- 10% is dedicated to administrative fees
Every player seated at a jackpot table in the same limit and game type as the table where the bad beat hand occurred gets a piece of the jackpot.
All of these winnings came just two days after UltimateBet had officially completed its transition to the CEREUS network, allowing it to boast more players, new features, larger tournaments, more lucrative promotions and higher bad beat jackpots.
For more details about the UltimateBet joining the CEREUS network, check out our news story about just that.