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Home Page > Seneca Poker Promotions > Bad Beat Progressive Jackpot

Every Poker player has a bad beat story ... now you can make it worth your while! The Bad Beat Progressive Jackpot is now available at ALL three Seneca Poker locations.

PLAYERS GUIDE TO THE BAD BEAT PROGRESSIVE JACKPOT

  • TEXAS HOLD-EM: A player must lose with four (2,2,2,2) or better to a higher hand. Both winning hands and losing hands must play both of their hole cards. (Must have a pocket pair to qualify for four of a kind)
  • OMAHA (ALL VARIETIES): A player must lose with four nines (9,9,9,9) or better to a higher hand. Both winning and losing hands must play two of their hole cards.
  • SEVEN CARD STUD: A player must lose with four sevens (7,7,7,7) or better to higher four of a kind or better.

For all jackpots, there will be a table requirement that the pot must have a minimum of $20.00 in it, not including the rake, and have a minimum of five (5) players at the table that were dealt in.

A player not physically sitting at the table will not be dealt in. If you are not dealt in, you are not eligible for any portion of the Bad Beat.

If there are players discussing the potential “Bad Beat” it will nullify the Bad Beat. Please do not discuss hands while there is still action pending. This not only is bad poker etiquette; it will completely nullify the Bad Beat.

If a player mucks their hand and they had a potential “Bad Beat” hand, the hand will be considered dead. Whether the hand was turned face up or not will not matter.

PAYOUT

The “Bad Beat Progressive Jackpot” will be divided in the following manner:

  • 50% to the losing hand
  • 25% to the winning hand
  • 25% to the remaining players who were dealt in the hand.

Amounts paid in cash will not exceed $3,000, balance to be paid by check. Checks will be mailed in 2-3 business days.

A W-2G must be completed for all players who win in excess of $600.00 and a CTR must be done on all players receiving $10,000 or more. A 30% withholding must be held for all non-US citizens.

Each winner must present two forms of valid government issued photo identification. If the winner does not have identification, payout can not be made until valid identification is obtained.

For any additional question, please contact the host or supervisor on duty.

IRS REQUIREMENTS

  1. Bad Beat falls under table games wagering transaction where a posted jackpot is paid.
  2. For US Residents, a W2-G is required for cash and non cash prized with a value of $600 or more.
  3. No withholding is required unless the person has no social security number. Anyone not able to provide a valid social security number must have 27% of the gross winning withheld.
  4. For US Residents, if the Jackpot is over $5,000, a W2-G is required along with 30% of the gross winnings withheld.
  5. All transactions over $10, 000 will require a Currency Transaction Report (CTR)

More information can be found a www.irs.gov.


Disclaimers: Complete Rules & Information

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Jackpots as of August 7th, 2008