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Massive bad beat jackpot hits in Atlantic City8 April 2011ATLANTIC CITY, New Jersey -- (PRESS RELEASE) -- Caesars Entertainment Atlantic City just announced that at 3am on Thursday, April 7, its Total Bad Beat Jackpot of $411,007.76 hit at Bally's Atlantic City - Wild Wild West Casino - Claridge Casino. In addition to the 57 players in the Bally’s poker room, 120 fellow poker players at Caesars Atlantic City, Harrah's Resort Atlantic City and Showboat Atlantic City each received a payout of $1,149 as part of the pooled jackpot. “The Atlantic City poker scene, particularly at our four casinos, really has flourished ever since the pooled Total Bad Beat Jackpot launched in August,” said Joe Domenico, Senior Vice President and General Manager for Bally’s and Showboat Atlantic City. “The buzz surrounding a combined payout at Harrah’s Resort, Caesars, Bally’s and Showboat continues and we look forward to growing this to be one of the largest Bad Beat Jackpots in Atlantic City casino history,” added Mr. Domenico. Although both parties declined publicity, here’s how the Total Bad Beat went down: A little before 3am this morning, “Mr. X” laid out what he thought was a winning hand of a straight flush (low), only to experience a bad beat when “Mr. Y” laid down his straight flush (high) and the win. “Mr. X’s” losing hand earned him $124,451 while “Mr. Y’s” winning hand added $83,351 to his wallet. The Total Bad Beat Jackpot was immediately reset to $209,975.63 with four queens as the qualifier. On Tuesday, August 24, 2010, Caesars Entertainment Atlantic City introduced the City’s first-ever multi-casino Texas Hold’em Poker Room Bad Beat Jackpot initiative, and a starting jackpot of $524,045. Poker Room Bad Beat Jackpots at Harrah’s Resort, Caesars, Bally’s and Showboat now reflect one “Pooled” jackpot up for grabs. The bad beat jackpot is a prize that is paid when a sufficiently strong hand is shown down and loses to an even stronger hand held by another player. The Bad beat jackpot is progressive, with $1.00 taken out of each pot to fund the jackpot (in addition to the regular rake). When a jackpot is won, it will be split among all players sitting at a Bad Beat eligible table and in all of the Caesars Entertainment Total Reward Poker rooms in Atlantic City at the time of the bad beat with the losing hand getting the largest share. Payouts of the Total Bad Beat Jackpot are as follows: · 30% of the jackpot will be awarded to the Bad Beat hand (losing player); · 20% of the jackpot will be awarded to the winner of the hand; · The remainder of the jackpot will be awarded equally divided as shares among all of the seated players on any Bad Beat jackpot eligible game at all four (4) linked properties. The players mentioned above will also get a share in addition to the prize listed. All winners will receive a minimum of $100.00. The minimum losing Bad Beat Hand will start at four (4) queens and each week, on Wednesday, the required hand will be lowered by one (1) four of a kind ranking hand until the required hand is four (4) deuces. When the jackpot is hit the required hand will revert back to four (4) queens and reset the next Wednesday. Example: if the jackpot is hit on a Monday the 4 Queens would only be in effect for 2 days. |