Bad Beat Jackpot coming to Borgata Dec. 1st

[jjshabado]

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Here is what i don't understand, if you go to this link:
linky

It says 2 things:
Payouts of the Bad Beat are as follows:
50% of the Bad Beat prize package will be awarded to the Bad Beat hand (losing hand)
25% of the Bad Beat prize package will be awarded to the winner of the hand
25% of the Bad Beat prize package will be awarded equally amongst the balance of the seated players on the game who received cards at the beginning of the hand.

then a few bullets down it says:

Qualifying Bad Beats will be recorded during the month (December 1 – 31, 2007). Winners of the Bad Beat prize packages will be announced on January 1, 2008, and will be awarded the following Prize Packages (as set forth in Rule 8 above):
$50,000 Prize Package – to highest (worst) Bad Beat
$25,000 Prize Package – 2nd highest Bad Beat
$15,000 Prize Package – 3rd highest Bad Beat
$10,000 Prize Package – random winner from remaining Qualifying Bad Beats
Winners will be solely responsible for all taxes.

So does that mean for each "recorded hand" The loser will get 50% of 50k, the winner get 25% of 50k and the table the rest. meaning for each beat they will write down 10 players information for example?

Then the second worst beat would be 50% of 25k etc....

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Yes I believe you've got it.