Vegas Luck Hits UltimateBet as Online Poker Player Cashes in on $546,253.86 Bad Beat Jackpot

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56-year-old online poker player from Florida wins $177,532.51 with losing hand.

A little Vegas luck was definitely on one online poker player's side Tuesday morning. A Texas Hold'em player with the moniker "joeyvegas0711" popped UltimateBet's latest Bad Beat Jackpot, which had been sitting at a staggering $546,253.86.

The jackpot exploded at 10:38am on May 27th when joeyvegas0711 turned over an assumingly unbeatable four queens. But everything changed the moment babybaby16 flipped over a queen-high straight flush and swept the $35.44 pot in his direction.

For his losing hand, joeyvegas0711 took home $177,532.51 of the $546,253.86 Bad Beat Jackpot. BabyBaby16 added an additional $88,766.25 to the $35.44 pot and 270 other players shared another $88,766.25.

Bad Beat Jackpot is just like traditional Texas Hold'em poker with an added jackpot component. In addition to rake, $0.50 is collected from qualifying poker hands and placed into a constantly growing pot until someone hits the jackpot.

When a poker player loses a hand with four 8s or anything better, 65% of the jackpot is divided among Bad Beat Jackpot players (25% remains in the pot for the next jackpot and 10% is dedicated towards administrative fees). All poker players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat occurred also win a piece of the jackpot.

Full details on UltimateBet's Bad Beat Jackpot game can be found at http://www.ultimatebet.com.

About UltimateBet:
Designed with the assistance of the best poker players in the world - Phil Hellmuth and Annie Duke - UltimateBet provides the best poker games available on the net. Players can download the free poker software, play in free ring games and tournaments and get tips from these pros to learn the sport or to enhance their playing strategy. UltimateBet currently has over 2 million registered players.

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