Caesars Combined Bad Beat Jackpot Hits $700k
The Caesars Entertainment combined bad beat jackpot in its poker rooms has passed $700,000, the largest bad beat jackpot ever in Atlantic City.
Back in August 2010, shortly after a record poker bad beat jackpot of $672,115 had hit at the Taj Mahal in June of that year, Caesars Entertainment announced they would combine the bad beat jackpots at all four of their casinos – Caesars, Harrah’s Resort, Bally’s and Showboat – into one massive jackpot.
They then structured the jackpot’s minimum so it would be hard to hit, giving the jackpot time to build. Basically, they said they wanted to set a record.
Hey, it only took two years, but last Wednesday, July 25, they finally set a new record. Then the jackpot survived the weekend and has now passed into the stratosphere at $702,182.
Bad beat jackpots are progressive jackpots that count during play at regular poker tables, as opposed to tournament play. At Caesars properties, a small rake of $1 is taken from regular poker pots to feed the jackpot.
The jackpots pay off when a very high hand is beaten by an even higher hand, what player’s call a bad beat. For example, if you have a low four of a kind, say four fours, and someone pulls out four nines to beat you, that’s a bad beat. Several players then get a piece of the jackpot.
When Caesars initiated the jackpot, they set the minimum hand that can be beaten to qualify as a bad beat at four queens, but each week the minimum is lowered a notch (four jacks, four 10s and so on).
Despite getting to four deuces a few weeks ago, the Caesars jackpot has continued to build. It last hit March 1 for $281,000
When it hits this time, the winner of the jackpot, (the player that actually loses to the bad beat) will get 30 percent of the jackpot. So that’s better than $210,000. The actual winner of the hand gets 20 percent.
Usually the rest of the pot is split between the remaining players at the table. What sets Harrah’s apart from other rooms, however, is that the remaining 50 percent will be split among all players playing in there four rooms.
That’s right, you don’t even have to be in the same casino. The money could potentially be split between a few hundred players. As you might guess, that has created some excitement in Caesars’ poker rooms.
“This record Atlantic City Bad Beat Jackpot has generated a buzz like nothing else in our Caesars Entertainment poker rooms,” said Don Marrandino, Eastern Division President for Caesars Entertainment Atlantic City. “Players are lining up each and every day for a chance at this life changing amount.”
We call that bad beat mania. And right now, Caesars has got it.
For more on the jackpot, go here.