Just nine days after signing up for an UltimateBet account, a 19-year-old online Texas Hold'em player from Canada has won $173,693.20 playing Texas Hold'em at UltimateBet's Bad Beat Jackpot tables.

The online player from Alliston, Ontario, lost a hand of Texas Hold'em when his Quad Queens were crushed by RUSTY_1's Royal Flush. The players nicknamed “QUANTOM47” automatically secured $173,693.20 for his loss while RUSTY_1, who dealt the final blow, walked away with $86,796.60. 373 other players who either participated in the hand or were seated at a Bad Beat Jackpot table with the same stakes shared in an additional $86,796.60.

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 deposited into pot until an “unlucky” player hits the jackpot.

When an online poker player loses a hand with four 8s or anything better, 65% of the jackpot is divided among Bad Beat Jackpot players (25% remains in the pot for the next jackpot and 10% is held by Ultimate Bet to cover administrative fees). All players seated at a Bad Beat Jackpot table featuring the same limit and game type as where the bad beat happened also win a share of the jackpot.

Since November, UltimateBet has seen its Bad Beat Jackpot skyrocket to near record-breaking levels faster than ever as a result of the online poker site's significantly expanded player base. Thanks to launch of the CEREUS network, the Bad Beat Jackpot total prize has tremendously increased, boosting the number of players seated at Bad Beat Jackpot tables.

Full details on the Bad Beat Jackpot game can be found at Ultimatebet.com.