Harrah’s Entertainment casinos run a special in their poker rooms called the Bad Beat Jackpot, which pays poker players who are unlucky enough lose with strong hands. The jackpot was introduced last August, and has paid out several times since then.
As of yesterday, the jackpot stands at over $402,663, making it one of the biggest poker jackpots available in a land casino. It is a progressive jackpot, taking $1 out of every pot to fund it. The jackpot is networked across all 4 of Harrah’s Atlantic City properties. It pays 40 percent to the bad beat loser, 20 percent to the player that wins the hand, and splits the remaining 50 percent among all players in cash games at all rooms.
To win, players must lose with a hand of four Queens or higher. Each week on Wednesday, this requirement is lowered by one rank until it reaches the lowest possible winning hand of four deuces. The current winning hand is quad fives.