Odds of a Bad Beat and Royal Flush

[GTSamIAm]

PartyPoker has that bad beat jackpot and royal flush jackpot. My question is this: is a royal flush or a bad beat more likely? I'm speaking of before you receive your cards. Also, what are the chances after you have received a hand that has the capability to bad beat or be bad beaten or make a royal flush that you will get one of these outcomes? How do you compute this?