UltimateBet today announced the launch of The Ultimate Bad Beat Jackpot (http://www.ultimatebet.com/poker-promotion/bad-beat-jackpot), a popular jackpot-based Texas Hold'em Poker game that turns losing hands into gold.

"We've taken the Bad Beat Jackpot concept and revolutionized it to spread the wealth to more poker players," stated UltimateBet spokesperson George MacLean.

In a nutshell, 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.

While Bad Beat Jackpot isn't new to the online poker community, UltimateBet's version promises to spread the wealth among more than just a single table of poker players.

Now, online poker players don't have to be sitting at the table where the bad beat occurred to share in the prize money. That's because all poker players seated at a Bad Beat table featuring the same limit and game type as where the bad beat occurred will walk away from their table with cash. For example, if the jackpot was hit at a 2/4 No Limit Hold'em poker table, all players playing 2/4 No Limit Hold'em Bad Beat Jackpot will share in the prize money.

When a poker player loses a hand with four 8s or anything better, 65% of the jackpot will be divided between Bad Beat Jackpot players (25% remains in the pot for the next jackpot and 10% is dedicated towards administrative fees).

Of the new value, the poker player who hit the Bad Beat Jackpot will immediately claim 50%. 25% will go to the winner of the hand and $1,000 will go to each poker player in the hand at the table where the bad beat occurred (if the amount is less than $1,000, the value will be divided evenly). The remaining money will be divided among the poker players seated at Bad Beat Jackpot tables with the same limit and game type.

UltimateBet's Bad Beat Jackpot tables are categorized in red text in the game lobby. Full details on UltimateBet's new Bad Beat Jackpot game can be found at www.ultimatebet.com.