As it approaches $500,000 near New Year’s Eve, the next Seminole Casinos Mega Bad Beat Jackpot will establish a record payout after accumulating for almost two months — since way back on Nov. 3 — longer than any period since its launch Dec. 1, 2009. The jackpot surpassed $495,000 as of noon on Thursday, Dec. 30.
The first hit was on Jan. 3, 2010, for $365,407 at Seminole Casino Hollywood. The former record payout was $366,534 on Feb. 9, 2010 at Seminole Hard Rock Hotel & Casino Tampa. The exclusive Mega Bad Beat Jackpot has hit on average about twice a month, paying out 22 times for a total of $4,747,863.
The Seminole Casinos’ approach to larger, more frequent bad beat jackpots is funded by a $1 contribution from each pot of $10 or greater at the poker rooms in six Seminole casinos: Seminole Hard Rock Hotel & Casino Hollywood, Seminole Hard Rock Hotel & Casino Tampa, Seminole Casino Coconut Creek, Seminole Casino Immokalee, Seminole Casino Brighton, and Seminole Casino Hollywood.
Once it’s won, the jackpot immediately resets at $100,000; something done only at Seminole casinos in Florida. Seminole Casino Immokalee has its own unique payout system, whereby each live poker player in their casino at the time of a Seminole Mega Bad Beat hit receives $100, no matter where it hits.
The last Mega Bad Beat Jackpot happened on Nov. 3, 2010 Seminole Hard Rock Hotel & Casino Tampa, paying out $298,909.
A poker bad beat occurs when an apparently unbeatable hand loses to a better hand. Fifty percent of the Seminole Mega Bad Beat prize pool is awarded to the qualifying losing hand; 30 percent to the qualifying winning; and 20 percent divided among the remaining players.
The Seminole Mega Bad Beat Jackpot rules are straightforward: Only the top two hands at the showdown are eligible and both hands must be the best possible combination of five cards. The minimum losing hand is four 10s. At least four players must be dealt for the table to qualify. Multi-table tournaments are excluded. Single table tournaments are eligible until fewer than four players remain. Players must play their hands independently. Management reserves the right to declare a jackpot null and void due to any irregularities and/or collusion, and its decisions are final.