The Bad Beat Jackpot available on the Microgaming Poker Network has reached $200,000 - up 35 percent on previous records - according to a statement from the company this week.
The bad beat Jackpot kicks in when hands of Four-of-a-Kind, 8’s or better are beaten, offering the player the chance of a Bad Beat payout. To qualify for the Bad Beat jackpot four or more players must be dealt into a hand; the hand must be a raked hand and the jackpot contribution is collected from that hand. The best hand of the winner and the loser must include the hole cards, and the hand must go to a showdown.
The jackpot contribution of 50 cents is only collected once during a hand, and is taken from the pot as the hand is raked. Jackpot contributions are accumulated, with the value displayed in the lobby and on every table until the Jackpot is won. The BB system is applied to specified tables only, and players must be seated at one of these tables and actively participate in the hand to qualify for any payouts.
The percentage payout of the Jackpot is as follows:
- 70% is distributed as winnings:
- 50% to the losing hand, the Bad Beat
- 25% to the winner of the hand
- 25% evenly split between the other players who actively participated in the hand
- 20% is used to seed the next Jackpot
- 10% is used for administration
The Microgaming Poker Network powers over 40 card rooms.
Source: InfoPowa News