The Ultimate Bet online poker room is quite famous for their Bad Beat Jackpot, and even more so now as it was hit twice in a single day. October 25th at 6:29am and again just 4 hours later.
A poker player going by the username ITALIC hit the first bad beat jackpot, worth about $600,000, with quad 8's losing to quad Aces. ITALIC pocketed a hefty share of the jackpot at $$202,602.98 while his Ace-holding opponent, SMITH was awarded $101,301.48. Seven other players at the table were granted a nice sum as well with $2,366.68 each. 62 other players were seated at bad beat jackpot tables at the time, awarding them $1,366.68.
A mere four hours passed before another lucky online poker player, HOSSDOG556, hit the bad beat jackpot as well. HOSSDOG556 took his share of the prize, $51,670.11, while 132 other players at bad beat jackpot tables split $103,340.21 amongst themselves.
In order to win a bad beat jackpot at UltimateBet, a player must achieve a hand of four 8's or better, yet still be bested by another player's higher ranking hand. Other players seated at 'Bad Beat Jackpot' tables are also awarded a portion of the jackpot. Games are played in the same manner as at normal Texas Hold'Em tables except that the online poker room collects $.50 from each pot to go towards the progressive bad beat jackpot.
Online poker rooms that offer a bad beat jackpot include: