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In a Texas Hold 'Em hand played on Wednesday, the Absolute Poker.com's record breaking bad beat jackpot of $821,670 was won by an Australian player and other players - a payout that’s worthy of a major progressive slot win. Previous bad beat jackpots such as the $739,621 bonanza paid out by Party Poker, have all been eclipsed by the current win.
The term ‘bad beat’ in Poker refers to losing a hand that is clearly favored to win. Usually such a loss would leave even the most hardened poker player feeling depressed by what might have been. But the advent of bad beat jackpots has meant that bad luck can turn out to be good luck. When seated at a Bad Beat Jackpot table at Absolute Poker, if a player loses a Texas Hold’em hand holding four 8’s or anything better, he or she wins the major portion of the Bad Beat Jackpot, and that's exactly what happened to the Australian.
$0.50 is collected from qualifying hands at Bad Beat Jackpot tables in order to help the jackpot build. The jackpot keeps growing until someone hits a qualifying ‘bad beat’, at which time a large percentage is distributed amongst the bad beat victim and the participants in the hand.
This latest bad beat happened when KADI, an online poker player from Australia, lost a 10-high Straight Flush to a King-high Straight Flush. Seated at one of Absolute Poker’s Bad Beat Jackpot tables, KADI’s losing hand netted her $267,042.97 in cash. The pot winner walked away with $133,521.48 and the participants in the hand each earned $33,380.
Absolute Poker executive David Clainer explains that once the jackpot has been won it is reset and it currently sits at $215,000. With $0.50 collected from each qualifying hand at designated Bad Beat Jackpot tables, the amount is now growing by an average of $2,000 per hour.
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