If you think winning Texas Hold'em is worth a lot of money, wait until you hear how profitable losing it can be. Absolute Poker announced today that there has been $1,297,394.94 in jackpot winnings since the popular poker site began rolling out the Bad Beat Jackpot in June.

“In less than seven weeks, our players have won an incredible amount of money at the Bad Beat Jackpot tables,” said Absolut Poker Senior Vice President David Kleiner. “On average, $185,000 is paid out on losing hands each week.”

The last jackpot, on August 7, was claimed by a player with the nickname Dametgarm, who lost with four nines to a straight flush and immediately received more than $50,000 for his loss.

If a player at the Bad Beat Jackpot table loses a hand with four eights or something better, a portion of the "nightmare" jackpot goes to them. Some more of the jackpot is divided among the players at the table where this rare event took place, and some remains for subsequent jackpots.

The $1.2 million figure includes money won by all players across all jackpot times. It does not include pots won during regular Texas Hold'em play at the Bad Beat Jackpot tables.