Following the lead of many brick and mortar cardrooms, PartyPoker is now offering a progressive bad beat jackpot. The jackpot stood at nearly $87,000 on Wednesday evening and typically increases at a rate of nearly $1,000 per hour, according to PartyPoker.
To win the jackpot a player must first find a seat at one of the bad beat jackpot tables, which are all real money Texas Holdem games. Limits range from $2-$4 to $15-$30. At these tables, each time a hand with a pot size large enough to trigger the rake is dealt, an extra 50 cents is added to the jackpot. To qualify for the jackpot at least 4 players must be dealt in the hand and the jackpot contribution must be taken from the pot.
Hitting the jackpot is no easy task. A minimum of quad eights must be beaten and both hole cards from the winner's and loser's hands must play. Each time the jackpot hits, 70% is distributed, 20% is used as seed money for the next jackpot and the remaining 10% is kept by PartyPoker as an administrative fee. As is usual in jackpot hands elsewhere, the loser of the hand wins 50% of the prize, the winner 25% and the rest of the players dealt in the hand split the other 25%.
Players finding themselves in a potential jackpot hand at PartyPoker must be sure to remain quiet. Any action which compromises the independence of one's play, such as telling an opponent how to act or revealing your hand, will disqualify the hand for the jackpot.