Bad Beat Jackpots rises

MIAMI, Florida -- (PRESS RELEASE) -- Less than 48 hours after spreading a $330,000 Bad Beat Jackpot among 19 Texas Hold'em players at UltimateBet, the popular online poker site is reporting that their current jackpot has surpassed the $200,000 mark.

"Our jackpot is rising at a dramatic rate and online poker players are taking notice," stated UltimateBet spokesperson George MacLean.

As of Thursday morning - less than three days after BUCKS13 popped the site's $330,615.01 jackpot - UltimateBet's Bad Beat Jackpot had already grown to over $214,000. MacLean attributes the soaring jackpot to a unique payout structure that rewards more online poker players.

What separates UltimateBet's Bad Beat Jackpot game from other online poker offerings is a payout system designed to enrich the lives of more players than just those seated at the winning table.

When a Texas Hold'em 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).

But unlike similar offerings at other Texas Hold'em sites, the good fortune extends far beyond the Bad Beat Jackpot table. All players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred automatically share in the jackpot.

Bad Beat Jackpot is just like traditional Texas Hold'em with an added jackpot component. In addition to rake, $0.50 is collected from qualifying hands and placed into a constantly growing pot until someone hits the jackpot. UltimateBet's Bad Beat Jackpot tables are categorized in red text in the game lobby.