29th of March 2009 Author: Glo Wood
Absolute Poker veteran hits the latest six-figure 'loser' bonanza
It's been a few weeks since a really significant Cereus Network poker bad beat jackpot was hit, but it was back with a vengeance mid-week when an Absolute Poker veteran from Florida using the handle EMILIE14 triggered a massive $807 543.95 windfall.
EMILIE14 and his opponent, PEACE2UALL were at the heart of the action, with the former sustaining a brutal bad beat when his Jack-high straight flush was demolished by PEACE2UALL's Royal Flush.
For his loss at the table, EMILIE14 received $270 843.03, whilst PEACE2UALL collected an additional $132 904.14 to his win. Two other players who were playing at the table and had been dealt into the hand each took home $2 678.25 in cash in terms of the bad beat rules. And 57 other players each pocketed $1 678.25 for playing at Bad Beat Jackpot Tables.
To qualify for the Cereus Network Bad Beat Jackpot, players must be seated at specially declared tables. There is an additional 50 cents taken from every hand played on these tables to increase the jackpot until the jackpot is hit. To qualify for the bad beat, a player must have at least quad Eights or better get beaten by a better hand.
Once a player hits the jackpot, Cereus divides up the jackpot, taking 10 percent for itself and another 25 percent to seed the jackpot pool for the next round. The player who suffered the bad beat takes down 50percent of the remaining prize pool, 25 percent goes to the player who administered the bad beat, and the remaining players at the table get a minimum of $1 000.
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