Back when online poker was just being discovered by the masses, bad beat jackpots grew in popularity, as most players had no real concept of rake. I mean, why NOT play at a cash game table that is normal in every respect except that you have a chance to win a ton of money if you lose with an unbeatable hand? But as time has gone on and players have become more savvy, bad beat jackpot tables have garnered little attention, since most realize that paying the additional rake for the jackpot every hand just isn’t worth it. That doesn’t mean it isn’t cool when someone hits the big one, though, which is exactly what happened last weekend on the Chico Network, where a bad beat jackpot totaling nearly $1 million was triggered.
Hand requirements vary with bad beat jackpots from network to network, but in order to win the bad beat jackpot on the Chico Network, the losing hand must be quad jacks or better. Both players – the winner of the hand and the player with the big-time losing hand – must use both of their hole cards and the hand needs to go to showdown. At least four players must be dealt into the hand, as well.
The Chico Network takes $0.10 for every $4 in the pot, with a maximum bad beat jackpot drop of $0.50 per hand. 2.5 percent extra per pot doesn’t seem like much at first, but if you lose 2.5 percent of every pot you win, that can really eat into your profits.
That didn’t matter “pokerplayer4ever” last week, though. To start a hand at a $1/$2 No-Limit Hold’em table with four players dealt cards, he had Qd-Td – not bad for a four-handed game. “Tyrant,” with pocket Jacks, raised to $5 pre-flop, pokerplayer4ever three-bet to $18, the other two players folded, and Tyrant made the call to bring on a flop of 8d-9d-Jd.
Bingo. pokerplayer4ever flopped a straight-flush. He already had the hand won – it was just a matter of squeezing out as many chips from Tyrant as possible. Tyrant checked, pokerplayer4ever bet $10.17, and Tyrant called. The 4d arrived on the turn and both players checked. That card was either good or bad for pokerplayer4ever – if Tyrant had the Ace of diamonds, that was a fantastic turn, but four to a flush could also scare him away.
He would soon find out that it didn’t matter. The river was the Jh, upgrading Tyrant’s already strong set to quad Jacks. He wasn’t going anywhere and assuming nobody mis-clicked, everyone at the table was about to have a wonderful day. Both Tyrant and pokerplayer4ever ended up all-in and the nutso $994,119 bad beat jackpot was won.
Here’s how it broke down: Tyrant, as the loser of the hand, received $273,382.82. pokerplayer4ever won $149,018.49 as the hand’s winner, cashing in for much more than he thought he would when he flopped that straight-flush. The other two players who were dealt cards but folded pre-flop got $74,509.25 and $74,509.24 (I hope one of them wasn’t upset about not being given that penny). Unfortunately, there were two players at the table who sat out, so they received nothing.
You may notice those numbers don’t add up. 5 percent of the bad beat jackpot was split among the players at the other bad beat jackpot tables, 10 percent went to the house, and 27.5 percent was used to seed the next jackpot.
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