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On Prima poker rooms you do not pay extra rake for the bad beat jackpot, but it's not 40K either 
The pot is 500$ increasing by 50$ every day it's not won.
To qualify both players must use both cards and the loosing hand must be four of a kind or better. Looser takes 50%, winner 25% and the rest of the table split the remaining 25% among players involved in the hand (not sitting out.
It seems to me that the pot is usually won at least every third day or so, but I'm not sure. In my case the total pot had only increased for one day, to 550$.
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