The Microgaming Poker Network (MPN) has officially released its new version of the bad beat jackpot with a record breaking €921,603 prize pool. The bad beat jackpot was suspended in early March for a revamp of its policies and requirements.
Microgaming’s new bad beat jackpot has a lowered requirement for qualifying hands and allows for a greater number of participants. The new qualifying hand has been lowered to four of kind twos from the original losing hand of four of kind eights. The lowered requirement will eventually lead to a higher frequency of hit jackpots.
The new bad beat jackpot also allows a new opt-in feature for all cash tables above €0.10c/€0.20c. Players will have the option to participate in the bad beat jackpot by clicking the “bad beat” ticker at the bottom right of any qualifying table. This option will automatically lead to a €0.02 per raked hand contribution towards the bad beat jackpot pool.
Microgaming has also changed the payout structure of the bad beat jackpot and has taken out the administrative fee. The total prize pool will be broken down into five pieces including 40% to the losing player and 20% to the winning player in the qualifying pot. The remaining players at the qualifying table will have 10% equity of the prize pool. Furthermore, players who are simultaneously playing at the same stakes will be able to share in the jackpot by receiving a part of the 10% equity in the total prize pool. The remaining 20% share will be used to contribute to the next bad beat prize pool.
BetVictor CEO Andy Horne reflected upon the exciting changes to the bad beat jackpot.
“Will it reach EUR1 million? Who knows! The changes mean it will be won more often and by more people now. The current Jackpot will see over EUR90,000 paid out to opted in players playing at the same stake as the winner so even if you're not at the table where it hits you can share in the good fortune and that's no bad beat!"
Microgaming’s new bad beat jackpot is a novel approach to the concept of this popular promotion. Most online poker sites and land-based casinos have relatively strict policies on the bad beat jackpot. The new bad beat jackpot has set an industry record for prize pool and has introduced an original way to include more participants.