Cereus Poker Network Jackpot Passes $600,000 MarkMonday, June 22nd, 2009 by t2admin
Absolute Poker and UltimateBet both create the Cereus Poker network and currently the Bad Beat Jackpot at both poker rooms has surpassed $600,000. This amount of total amount of prize money won at the Bad Beat Jackpot from Cereus Network totals over $8 million.
Once the jackpot is hit yet again the total amount of prize money awarded this year will go over $9 million. Annie Duke, Cardroom consultant for UltimateBet commented: “Someone’s about to pocket another huge jackpot. Imagine winning more money than most people make in a year of their working lives. We’re ready to award hundreds of thousands of dollars in jackpot money by losing a hand of Texas Hold’em. It’s unbelievable.”
Players at Absolute Poker and UltimateBet play the Bad Beat Jackpot which equals playing Texas hold’em poker with a jackpot at the same time. Fifty cents is collected from qualifying hands and placed in the jackpot. The jackpot continues to grow until one lucky player loses a hand with four eights or anything better while at the Bad Beat Jackpot table.
Sixty five percent of the jackpot is divided among the Bad Beat Jackpot players including those who are seated at the Bad Beat jackpot tables that feature the same limit and game type as the table of those who hit the jackpot.
If a player at Absolute Poker was to win the jackpot the loser of the hand would earn over $195,000 while the winner of the hand would earn $97,500. Each player seated at the table where the bad beat occurred will earn $1,000. Those who would be at the same type of table would split another $97,500 amongst themselves.
Since the Bad Beat jackpot is growing many more players will most likely be trying their hand at losing to another player. So with the added traffic, we should see the jackpot hit very soon or we will see it continue to grow at a rapid rate until it is hit by an ‘unlucky’ player.