The first $1 million Bounty Jackpot has been won

A player with a very appropriate screenname won seven-figures instantly in a $54 PKO tournament this week at GGPoker.

The new Bounty Jackpot format from GGPoker is an interesting hybrid of PKO, Spin & Go, Bad Beat Jackpot and Mystery Bounty. Bounty Jackpot tournaments are regular PKOs, but a portion of every knockout is removed from the tournament and placed in a Bounty Jackpot pool outside of the tournament you are playing.

One in every 100 knockouts earns a Bounty Jackpot prize. 75% of the time that prize will be 0.6% of what the current Bounty Jackpot pool is and as rarely as one in 50,000 times the prize will be the jackpot itself, which can be up to $1 million.

It didn't take long, but this week the first $1 million Bounty Jackpot was hit in a $54 PKO tournament. 

The very well named 'SonOfRichDad' bust fellow player 'Tokyo90' for a $12.50 bounty....then this happened. 

The odds of hitting that particular jackpot are 42,632/100,000,000, so very rare indeed. It might actually be the biggest bounty ever awarded in poker because it was technically $1,000,012.50 and the previous biggest bounties won by Scott Ball online and Matt Glantz live were just $1 million each. 

Now is a good time to take part in Bounty Jackpots at GGPoker as the Bounty Hunter series is taking place. The top jackpot is $1 million for buy-ins above $50 and $100,000 for any buy-in below it. 

What is the biggest bounty you have ever won? Let us know in the comments: