AP Bad Beat Jackpot

[BulletsBlitz]

As you may know Absolute Poker has a progressive bad beat jackpot that has gotten up to nearly $1M at times. The qualifications are losing with quad 8 or better, while using both hole cards. The winner of the hand must also use both hole cards. The player with the losing quad 8 or better hand gets 1/2 the jackpot. The winner of the pot gets 1/4, and the other players dealt into that hand split the remaining 1/4.
I am interested in finding the probability of such a hand being dealt. Can anyone tell me the answer, or better yet, explain how the problem can be solved?