"This is an exciting day for everyone at Showboat, particularly our dedicated Poker Room players and staff," said Jay Snowden, Senior Vice President and General Manager of Showboat Atlantic City and Harrah's Resort. "It really has been a lucky year for our customers, with the Valentine's Day slot jackpot of $1.9 million and now Atlantic City's largest-ever Bad Beat Jackpot in our Poker Room, the air on property is really positive and contagious right now," Snowden said.

A bad beat jackpot is a prize that is paid when a sufficiently strong hand is shown down and loses to an even stronger hand held by another player. Bad beat jackpots are usually progressive, often with a small rake being taken out of each pot to fund the jackpot (in addition to the regular rake).

When a jackpot is won, it is split among all players sitting at the table and in the poker room at the time of the bad beat with the losing hand getting the largest share.

At Showboat, the Bad Beat was divided as such:

• Winning Hand, Second Place: Paul Tavormina of Egg Harbor Township, NJ took home $88,183.50.
• Losing Hand, First Place: Joseph Bajek of Yardville, NJ took home $176,367.00
• The remaining eight players at the table each took home $11,022.94