• Share
• Tweet

Only two days after launching, the Cereus Poker Network has announced that an online Texas hold’em poker player won over $250,000 courtesy of the bad beat jackpot tables at Kahnawake-licensed UltimateBet.com.

UltimateBet.com announced on Tuesday that it had completed its transition to the new Cereus Poker Network in order to offer virtual poker players a host of additional features alongside a range of larger tournaments and bad beat jackpots. Due to the expanded online casino player base this created, the bad beat jackpot for the online poker site had reached $789,827 by the early hours of Thursday before being won by a competitor going under the moniker ‘square route’. The unlucky competitor had lost a hand of Texas hold'em holding a straight flush only days after opening a new account to take home just over $250,000.

While competing at ordinary Texas hold'em tables, a player loosing out to a hand such as ‘square route’ would walk away with nothing. However, during a bad beat jackpot game, 50 cents is collected from qualifying poker hands in addition to the rake and then placed in a special pot that is always growing. Any casino player that subsequently loses a hand while holding four eights or better wins a large portion of this amount.

Twenty-five percent of the pot is retained for the next jackpot while ten percent gets earmarked for casino administrative fees. The remaining 65 percent is shared out between all players seated at a bad beat jackpot table featuring the same limit and game type as where the bad beat occurred.