“SQUARE ROUTE” took down the very first Bad Beat Jackpot in CEREUS!

• Author: Qid
• Filed under: High Stakes News, Online poker, Poker
• Date: Nov 28,2008

CEREUS network was launched on tuesday this week, when players of Ultimate Bet and Absolute Poker started to play in same network. Same time the bad beat jackpots in both networks were put together.

The win, or actually loss, was especially sweet for SQUARE ROUTE, as he had signed up at Ultimate Bet only few days prior. The signing was worthwhile, as the bad beat gave him a nice thanksgiving present of $256k!

In order to qualify for the bad beat jackpot, four eights or better must lose to a superior hand. There are a number of stipulations that must be met. First, the hand must go to showdown. This quite obvious, because if players hold quads in their hands, I’m sure they both want to go to the showdown! Also, there must be no collusion in order to reach a showdown.

When the jackpot is hit, 25% of the money will remain in the jackpot to seed the new jackpot. 10% goes to the house, and the rest of the cash goes to the players. The player suffering the bad beat gets half, the lucky duck who won the hand gets a quarter, the other players dealt in the hand get $1,000 each and the remaining 25% is divided amongst ALL bad beat players at that limit and game type.

We’ll see if Ultimate Bet and Absolute Poker will win a bad beat jackpot of their own this sunday, or will it be just a regular bad beat for them. If you don’t know what I’m talking about, check this out.

Source: Poker news daily