Bad Beat jackpot winnings top $1.2 million

MIAMI, Florida -- (PRESS RELEASE) -- If you thought winning at Texas Hold'em was rewarding, wait until you hear how lucrative losing can be. Absolute Poker today announced that $1,297,394.94 in jackpot money has been won since the popular online poker site launched Bad Beat Jackpot on June 22nd.

"In less than seven weeks, our players have won an unfathomable amount of cash at our Bad Beat Jackpot tables," stated David Clainer, senior vice president for Absolute Poker. "The numbers we released today amount to an average of $185,000 being paid out every week for losing hands."

The numbers we released today amount to an average of $185,000 being paid out every week for losing hands. The latest jackpot was claimed on August 7th by DAMETGARM who lost four nines to a straight flush and instantly won over $50,000 for his loss.

If a player loses a hand holding four 8s or anything better at a Bad Beat Jackpot table, they'll win a piece of the Bad Beat Jackpot. A percentage of the jackpot is shared amongst the players where the bad beat occurred and a fraction of the jackpot is placed back into the pot for the next jackpot.

The nearly $1.3 million figure includes money won by all players every time the jackpot has been hit. It does not take into account pots won through regular Texas Hold'em play at the Bad Beat Jackpot tables.

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