Nearly $1M record Bad Beat Jackpot hits at Caesars Atlantic City

ATLANTIC CITY, N.J. (PRESS RELEASE) -- For months, the tension in the Caesars Atlantic City, Harrah’s Resort Atlantic City, Bally’s and Showboat Atlantic City poker rooms has been building in anticipation of winning the multi-casino pooled Total Bad Beat Jackpot. Rising to unprecedented heights, when it was all said and done on Monday night, 411 poker players left Caesars, Harrah’s Resort, Bally’s and Showboat with smiles on their faces and some extra money in their wallets. Caesars Entertainment Atlantic City announced that on Monday, August 13 its Total Bad Beat Jackpot of $787,320 hit at center Boardwalk, in the Caesars poker room. Narong Sae Whited of Shelton, Washington, cashed in on $237,154 for his losing hand, while the winner of the hand and Atlantic City’s own Nick Angelakopoulos added $158,422 to his bank account. Additionally, 409 other poker players received a payout of $958 simply for being at a Caesars Entertainment Atlantic City poker room during the time of the Total Bad Beat.

“Yesterday, Caesars Entertainment Inc. made Atlantic City history with our $787,320 Total Bad Beat Jackpot hit,” said Don Marrandino, Eastern Division President for Caesars Entertainment. “Record-setting jackpots were made to be won, so I think congratulations are in order for Narong Sae Whited and AC resident Nick Angelakopoulos, as well as the other 409 players in our poker rooms who took home their share of the prize-pool. With the Bad Beat being reset to $393,000 it might only be a few weeks before Caesars Entertainment sets a new record.”

Narong Sae Whited thought he had the winning hand when he laid out his Quad Nines, only to experience an epic Bad Beat when Nick Angelakopoulos laid out his a King-High Straight Flush. This was the first time the Bad Beat Jackpot hit since March 1 for $281,000, coincidentally, also at Caesars. The Total Bad Beat Jackpot was immediately reset to $393,000, and is already up to $397,873.86.

On Tuesday, August 24, 2010, Caesars Entertainment Atlantic City introduced the City’s first-ever multi-casino Texas Hold’em Poker Room Bad Beat Jackpot initiative, and a starting jackpot of $524,045. Poker Room Bad Beat Jackpots at Harrah’s Resort, Caesars, Bally’s and Showboat now reflect one “pooled” jackpot up for grabs.

The Bad Beat Jackpot is a prize that is paid when a sufficiently strong hand is shown down and loses to an even stronger hand held by another player. The Bad Beat Jackpot is progressive, with $1.00 taken out of each pot to fund the jackpot (in addition to the regular rake). When a jackpot is won, it will be split among all players sitting at a Bad Beat eligible table and in all of the Harrah’s Total Reward Poker rooms in Atlantic City at the time of the bad beat, with the losing hand getting the largest share. On the heels of this Total Bad Beat Jackpot win, Harrah’s Entertainment immediately administered the reset jackpot at $100,000.

Payouts of the Total Bad Beat Jackpot are as follows:
· 30% of the jackpot will be awarded to the Bad Beat hand (losing player);
· 20% of the jackpot will be awarded to the winner of the hand;
· The remainder of the jackpot will be awarded equally divided as shares among all of the seated players on any Bad Beat Jackpot eligible game at all four (4) linked properties. The players mentioned above will also get a share in addition to the prize listed. All winners will receive a minimum of $100.

The minimum losing Bad Beat Hand will start at four (4) kings and every other week, on Wednesday, the required hand will be lowered by one (1) four of a kind ranking hand until the required hand is four (4) deuces. When the jackpot is hit the required hand will revert back to four (4) kings and reset the next Wednesday. Example: if the jackpot is hit on a Monday the 4 kings would only be in effect for two days.