The Commerce Hold’em Series just got underway yesterday in California. It’s a 2+ week festival with limit, no-limit, and pot-limit hold’em tourneys … most of them in the $200, $300, and $500 range … and some with fun little twists such as knockout bounties and creative payout structures. They got off to a good start with 1,217 entries on Day 1A in their $220 NLH — with a $500k guarantee — and It all culminates in a $2,580 main event (also with a $500k guarantee).

But the event that’s most intriguing to me: Event #15 — a $1,600 “Ironman” tourney, on Wednesday, Sep 23.

The concept, from a Commerce spokesman:

$1600 Ironman Tournament. 10,000 in starting chips. 1 hour levels starting at 25-50, with slow progressions. Includes 50-75, 250-500, 900-1800 blinds. The key is that there are no breaks! We will play from start to finish without interruption. 3 meals provided as long as you are in the tournament. Must play down to one player. Paying only the final table with 50% for first.

Wow. Awesome. Cool. While part of me thinks this might-should be called the Meth-head Invitational, it will be really interesting to see who plays the best under those conditions. Short-stacked smokers at a disadvantage, but hey … them’s the (only) breaks.

UPDATE: Event #1 seems pretty unique, too. Each Day 1 plays down to 27, and 90 players have already made the money. An additional funky caveat — those who have already busted can re-enter on Day 1B or Day 1C. What-the …

UPDATE: Savvas Zenonos is the bad guy.

Actually, a picture of this ethically challenged poker player is available.

Despite Annie Duke’s assertion that “poker players are the most awesome people in the world!”, we all know the truth: you’ve got some bad apples in the mix. That became very apparent in one of the last $1,060 mega-sats for the main event — where 22 players agreed to a chop, but one of them reneged on the virtual handshake and ran off with more money than he was supposed to keep, effectively ganking $2,400 from the prize pool.

Hey, these are tough times. It’s been a long month+ on the poker frontlines … pressures are high, bankrolls tapped, and casualties have mounted. Character-testing times, to be sure … and save for a few multi-bracelet winners, we’ve all had to re-evaluate not just our play but also our purposes in life at some point during this Series. Thus it’s with little shame that Pokerati has decided to get into the business of morally righteous extortion poker collections.

So here’s the deal, dude: You have until the start of Day 3 — roughly 48 hours — to make good and pay up, or we’re going to out you as a shyster and do our best to make sure that anyone googling your name sees the post revealing you as a poker crook. Cool? It’s not libel when it’s true; and just because you told a few people, allegedly, “I’m going to screw you” prior to doing so, that hardly constitutes “fair” warning.

Click below for the breakdown of how this main event satellite finished up and a good chop went awry — leaving several players, including DonkeyBomber, coming up short when it came time for payouts:
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Finishing up Saturday’s action from the WSOP…

Lisandro Pulls the Triple Double at the Rio

Jeff Lisandro became the third double bracelet winner of this year’s 2009 WSOP when he took down the $10,000 7 Card Stud Hi/Lo 8 or Better World Championship a couple hours ago defeated Farzad Rouhani at about 4am Vegas time. Lisandro pockets over $430,000 for his victory as well as several hours sleep before he comes back to the Rio Sunday to hear Italy’s national anthem this afternoon. When he won his first bracelet two weeks ago in the $1,500 7 Card Stud event, the Australian national anthem was played, making him the first to have two anthems played. This is also the first time more than two players have won multiple bracelets since when six players (Chan, Ferguson, Juanda, Hellmuth, Flack, and Men Nguyen) won bracelets in 2003. His second bracelet also moves him into a tie for first in the red-hot WSOP Player of the Year Race.

Texan Tops in NL Holdem

Jordan Smith from College Station, Texas took down the $2,000 NL Holdem event, pocketing $586,212 after defeating Ken Lennaard heads-up to take home a bracelet. From Nolan Dalla’s tournament report, Smith had this to add about legalizing poker in Texas:

“I think poker definitely needs to be legalized and regulated. Legalize it. Tax it. Regulate it. I don’t think it’s the government’s job to tell me what to do or how to spend my money – even though they sure want a cut of this (taxes) whenever I win it.”

This was event #36 of the WSOP, and after only one woman (Annie Duke) had made a previous final table, there were two at this one. Almira Skripchenko who is more well known for her successes in chess, being an FIDE Woman Grandmaster, finished in 7th place, good for $78,644. Laurence Grondin from Montreal, Quebec, Canada finished in 3rd for $237,537.

Obligatory Limit Holdem Final Table Mention

The final table of the $2,000 Limit Holdem consists of:

Seat 1: Jared O’Dell 189,000
Seat 2: Danny Qutami 323,000
Seat 3: Ian Johns 113,000
Seat 4: Marc Naalden 755,000
Seat 5: Tommy Hang 202,000
Seat 6: Steven Cowley 322,000
Seat 7: Rep Porter 287,000
Seat 8: Jameson Painter 205,000
Seat 9: Alex Keating 284,000

O’Dell, Johns, Hang and Porter list Washington state on their bio sheet, which may be the first time Washington state has represented so strongly at a WSOP final table.

Charania in Charge

Moshin Charania finished day 1 of the $1,500 NL Holdem event the leader with 144,100 in chips with 327 players remaining, of which 270 make the money. Brandon Cantu (86,600), Grant Hinkle (85,800), Jeff Williams (66,200), Eric Baldwin (63,400) and Shane Schleger (63,000) are some of the players who won’t be playing the Sunday tournaments online, as they’ll be returning to the Amazon room at 2pm.

Nate is Great in PLO

Nate Lindsay from San Francisco is the chip leader (482,200) at the end of day 1 in the $10,000 Pot-Limit Omaha World Championship with 116 players remaining, only 27 getting paid. Noah Schwartz (292,600), Ilari “Ziigmund” Saharies (229,400), David Williams (223,000), and Josh Arieh (220,600) round out the top five. Steve Zolotow (220,200), Ben Grundy (191,000), Tom McEvoy (142,800), Erick Lindgren (120,900) and Jimmy “Gobbo” Fricke (108,000) are just some other notables back for more action at 2pm as they attempt to make the final table.

Sunday’s Tournaments

The 12pm tournament day is the $5,000 NL Holdem Shootout which was won by Phillip Tom in a field of 360 for over $475,000. The WSOP Staff Guide projects a field of 396 for this event, but if it’s slightly above that, it could cause a bit of a problem for tournament staff. The payout structure for the shootout event pays 40 spots if the field is between 378 and 420, which would create 11-player tables for the first round if the field size is in the 401-420 range. The 5pm tournament is the debut of the $2,500 8-Game event which consists of HORSE, NL holdem, PLO and 2-7 triple draw, with a projected field size of 250.

More updates during the day at Pokerati and follow the WSOP at WSOP.com

When the security guys came out with the money in silvery aluminum briefcases — 9 million semi-real American dollars — a few of us in media row joked about telling the story that the guys left at the final table had decided to chop up the remaining prize pool and play for it Deal or Ne Deal style. (Ha ha, we are so damn funny.) But on this episode of Tao of Pokerati, Pauly and I take the issue a bit more seriously, and break down what’s really at stake for Ivan and Peter — who became friends recently playing on the EPT on PokerStars’ dime — beyond just the $3.34 million in prize differential between 1st and 2nd.*

Book 4: WSOP Final Table
Episode 4.11: Deal or No Deal? 5:33

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

*I don’t care what anyone says … that’s not enough money to justify an even chop, I don’t believe. And kudos to tourney organizers for breaking down the prize pool in such a way that it mathematically would mathematically make little sense (on the surface, at least).

The delay of the WSOP main event final table allowed Harrah’s to invest the final table prize money, with the exception of $900,670 paid to each player in July, in a money market account to accumulate interest in the months leading up to the final table action. That was an excellent idea…until the market tanked. Minor detail.

Regardless, there is now an extra $98,179 added to the payouts. Harrah’s invested the $24,527,416 into a Fidelity Institutional Money Market Fund – Treasury Only Portfolio on July 14th and withdrew it on November 5th. With a variable rate returning .9%, there is now a little extra spending money in the pool for the top eight finishers. The guy who finishes in ninth place gets nothing more – nada, zippo, not even a few bucks for the valet – than the $900,670 he already won. The new payouts for the final table are as follows:

1st place: $9,152,416 ($32,899 added)
2nd place: $5,809,595 ($19,571 added)
3rd place: $4,517,773 ($14,421 added)
4th place: $3,774,974 ($11,459 added)
5th place: $3,096,768 ($8,756 added)
6th place: $2,418,562 ($6,052 added)
7th place: $1,772,650 ($3,476 added)
8th place: $1,288,217 ($1,545 added)
9th place: $900,670

This brings the updated total main event prize pool to $64,431,779.

What’s happening today at the WSOP while UB issues an update regarding the NioNio scandal (with more user names involved):

The complete Main Event payouts have finally been officially released, here’s what the November Nine will be looking forward to earning. (Note: The November Nine will each get 9th place money with the remaining prize pool, about $24.5m, to be placed in an interest bearing account):

1: $9,119,517
2: $5,790,024
3: $4,503,352
4: $3,763,515
5: $3,088,012
6: $2,412,510
7: $1,769,174
8: $1,286,672
9: $900,670

The rest of the payouts are on page 2:
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The moment we’ve all been waiting for has arrived… The official number of entrants in the 2008 WSOP $10K NLHE main event is 6,844. Second largest field ever.

When it was announced that the final 666 players will be in the money, a collective groan came from the tables. Oooh – 666. Superstitious crowd, eh? I will only be creeped out if the 666th finisher is named Damien…

The first prize is a whopping $9,119,517. Whew! I may have heard a collective sigh of relief from Harrah’s staff members, as they now know that the event grew from last year – 486 more players – and the big first prize is one they can truly brag about. Actually, that same sense of relief may have resonated through the poker media as well. Good numbers, good sign that poker is experiencing some growth amidst tough economic times.

Full payout list will be listed when we get it in our hot little hands.

What’s happening at this moment while reading Gary Wise’s latest entry about what’s “good for poker” is really good for poker.

Today brings another two tournaments to the starting line, first at noon is the $2,000 NL holdem event and another large field is expected. The event the pros may be swooning over is the $10,000 Mixed Event “World Championship”. This tournament will have it all for the big cash game specialists as they throw eight games into the mix. This grouping of players will play Triple Draw lowball Deuce to Seven, Limit Holdem, Omaha 8, Razz, Stud, Stud 8, No Limit Holdem and Pot Limit Omaha; playing each game for 8 hands before moving on to the next game in the rotation. Hopefully there won’t be many mixups between the players, dealers, and floor and this becomes a staple of the WSOP schedule.

Play finally finished earlier this morning in the marathon that was event #2, $1,500 NL Holdem. After over two hours of headsup play, Grant Hinkle made an aggressive move, raising and eventually going all in with 10d-4d against James Akenhead’s Ac-Kh. Things were looking good for James, but his was truly aching after the flop came down 10-4-10. A fourth 10 hit the turn and it was over, as Hinkle took the bracelet and over $800,000 in victory. Chris Ferguson finished 3rd, the full results can be found over at Pokernews.

What else happened yesterday:
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What’s happening around the WSOP while the world’s #1 Limit Holdem player is waiting for you.

It’s almost 6:00am and play finished at 18 in the $1,500 NL event. They’ll be coming back at 1:30pm today to eventually get to a final table, broadcast for ESPN. Theo Tran appears to be the chip leader, while Chris Ferguson, Minh Nguyen, David Bach, and Perry Friedman are still in the mix.

Two new events go underway today, but expect more attention being paid to the $1,000 NL holdem w/rebuys event, starting at 12 noon. The two NL w/rebuys events averaged a combined 3,000 entries/rebuys, expect more of the same today. Daniel Negreanu has not had a good Series so far, expect him to be rebuying heavily today. For the non-holdem fan, the $1,500 Limit Omaha Hi/Lo 8 or better tournament will start at 5:00pm.

What happened yesterday:
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RIP, B oDiddley…

What’s going on at the WSOP today while reading Gary Wise’s new blog and Mean Gene’s latest post makes me wonder if I can claim to be a poker pro because I cashed in a $2.20 180-runner SNG on Stars.

Action is underway in the first of two bracelet events that begin today, the $1,500 PL Holdem event. 714 started play today, and just 5 hours in, less than 300 remain. (Payouts can be found after the jump). Play has also just begun in the $5,000 Mixed Holdem event, while day 2 of the $1,500 NL event has reached the money, with eliminations coming fast and furious now that the bubble burst.

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For those who are curious, here’s how the USPC has changed over the years, in terms of the size of the main event field, and thereby payouts:

(Top 2 finishers in parentheses)

2002 — 72 players* (John Hennigan beats Erik Seidel)
2003 — 99 players (Toto Leonidas beats Erik Seidel)
2004 — 177 players (John Aglialoro beats Joe Cassidy)
2005 — 226 players (James “Capo” Caporuscio beats Ralph Pecorale)
2006 — 261 players (Alex Jacob beats Jordan Morgan)
2007 — 164 players (Winner TBD / Not Gavin Smith)

Not sure what all this says about the level of competition or the poker world in general, but the numbers are telling of something. This tourney did lose its TV contract this year, which certainly alters the field. But what becomes of it from here remains to be seen.

Click here to see the top-heavy payout structure.

And/or click here to dig into the history of this boldly named event. (Pre- and post-poker boom.) Do you think it’s possible that “struggling” tourneys like this one might change their payout structures to make them more appealing? Because while the 1st Place prize is plenty hefty, pros know how hard it is to actually win one of these things … and I gotta think if they knew a final table provided a bigger ROI it might be easier to put it on their schedule. Just a thought …

* Buy-in in 2002 was $7,500. Raised to $10,000 thereafter.