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Cereus Network Claims $32 Million Paid Out in Badbeat Jackpots

February 16, 2009

The Cereus Poker Network which is home to Absolute Poker recently set an online poker record for the total amount of money paid out in Bad Beat Jackpots. It was just announced that over $32 million in badbeat jackpots have been paid out since 2007.
The latest lucky loser at Absolute Poker took home $132,888.80 by losing a hand of Texas Hold ‘Em holding four nines. 
Bad Beat Jackpot is like regular Texas Hold’em but with a slight twist. When seated at a Bad Beat Jackpot table, if a player loses a hand holding four 8s or anything better, they’ll win a large piece of the Bad Beat Jackpot. 

So that the Bad Beat Jackpot grows, 50 cents is collected from qualifying hands at all Bad Beat Jackpot tables. This ensures that the jackpot keeps growing until a player that loses a hand holding four 8s or anything better wins a piece of the Bad Beat Jackpot. The other players in the bad beat hand also get a share of the jackpot. 

The Bad Beat Jackpot data released this week by Cereus reveals the following numbers: 

$32,665,751.03 — The total value of Bad Beat Jackpot payouts at both Absolute Poker and UltimateBet

$1,605,573.30 — The total Bad Beat Jackpot winnings handed out so far in 2009

$16,435,623.88 — The amount of money handed out to the recipients of bad beats

$8,272,211.92 — The amount of money won by hand winners of qualifying bad beats

$7,957,915.23 — The amount of Bad Beat Jackpot money shared by players seated at the table where the bad beats occurred or at tables with the same stakes

$325,212.40 — The single highest Bad Beat Jackpot payout to a single player on the Cereus poker network 

15,002 — The total number of players paid at both online poker sites to date

 

 

 

Written by Michael Vall · Filed Under Absolute Poker