WPT Los Angeles Poker Classic - 20th Anniversary

Just one month after his $2 million win at the Aussie Millions High Roller event, Phil Ivey has continued his roll with his shrewd play at the WPT LA Classic. Thanks to a late surge, at the conclusion of day 1 he is sitting in 5th place with 116,300 chips. The chip leader, Michael Rocco, ended the day with 156,200 chips. Phil Ivey is on track to repeat his performance in 2008 when he won the LAPC during season 6 of the WPT.

The World Poker Tour’s Los Angeles Classic tournament is held annually at the Commerce Casino. It is their largest event of the year and draws many professional players. This year marks the 20th anniversary of the $10,000 buyin event, and is the 10th year since it became affiliated with the WPT. The LAPC has often had very difficult fields, as evidenced by these well-known past winners: Gus Hansen (2003), Antonio Esfandiari (2004), Michael Mizrachi (2005), and of course, Phil Ivey (2008).

This year’s LAPC began with a field of 523 players, and at the end of the first day 373 remained. The field will increase slightly as Commerce Casino is still running satellites to this event, with registration open until noon tomorrow, when Day 2 officially starts. As of now the prize pool contains just over $5 million, with a first place payout of $1.37 million. Other notable players still in the running include Jonathan Duhamel (98,950 chips), Shaun Deeb and Joe Hachem.

Ferrera would nonetheless be the first to exit the final table as he went all-in preflop with QJs against Juttelstad’s 99. The board gave Ferrera a pair of jacks, but alas a river 9 giving Juttelstad a set meant Ferrera would bust out in 6th place. 100 hands later, Todd Jacobsen was the next to be eliminated with TT, losing out to Sharon Levin’s A4s. Levin was shortly afterwards eliminated by Gagne.

The remaining three then tightened up with Uri Kadosh, Gagne and Juttelstad relatively even in chips. Kadosh would be the next to be knocked out as his resteal attempt from the big blind was called by Juttelstad on the button, who had raised with AJo. Kadosh was dominated as he flipped up J8o and the board did not help him as he exited in 3rd place, cashing out $105,463.

As heads up action began, Juttelstad had a sizeable advantage with about 7 million chips to Gagne’s 2 million. Gagne finished as the runner-up as she pushed in the rest of her chips on the turn having made a wheel with T4o on a 2-3-5-A board, but the Ace turned out to be the worst possible turn card for her as Juttelstad turned over 64o for the flopped nut straight. As Mike Sexton put it in his live commentary, the Ace was the “dream card” for Juttelstad. Only a 6 on the river would have resulted in a split pot, but Juttelstad’s hand held up to give him the title.

Juttelstad won $268,444 for his first live tournament title plus a $25,500 seat into the WPT Championship event at the Bellagio in Las Vegas. Although Gagne could not make history by winning this tournament, she has tied Kathy Liebert and J.J. Liu for the best finish for a woman in an open WPT Main Event.

Final Table Results:

1. Matt Juttelstad – $268,444
2. Gigi Gagne – $158,194
3. Uri Kadosh – $105,463
4. Sharon Levin – $73,344
5. Todd Jacobson – $54,649
6. Keith Ferrera – $42,185

Other notable players who cashed include Harrison Gimbel (9th: $17,258), Christian Harder (13th: $11,505), Raj Vorha (15th: $11,505), Noah Schwartz (18th, $10,067), and Darryl Fish (23rd: $8,629). There were 27 players who finished in the money who took their share of a $958,750 prize pool.

Returning to the tables this summer, McDonald made his first final table at the 2011 WSOP, and soon set goals to win an Epic Poker League (EPL) event. McDonald entered the first event, but was knocked out by the tough crowd long before the money. The second event proved to be a different story: McDonald beat a field of 97 of Epic Poker’s qualified players, cashing in at a handsome $782,410. After the win, the pro commented, “I couldn’t have a better birthday gift than this.” McDonald said, “It was a tough day, against tough players at the table. The Epic Poker League is extremely competitive and it’s rare I’m at a table where I feel that many of the players are better than myself.”

Coming hand-in-hand with the prize money was a free seat to the $1 Million Freeroll Championship, which will be played in February by the top 27 Epic Poker League players. So far, only four players have cashed in both EPL events: Erik Seidel, Adam Levy, Matt Glantz, and Isaac Baron. These four will likely also play the Freeroll Championship. Adam Levy achieved a position of note, being the final table bubble boy for both EPL events. Levy joked, “I’m looking at back-to-back bubbles as more of feat than a beat. Surely no one will surpass it for years to come.”

Seidel, who has put together the most impressive heater in the history of poker in the last year, made the final table. He hung on until fourth place, when his pocket fives ran into Fabrice Soulier’s pocket nines. Seidel walked home with $184,100, which marks his ninth $100+ cash for the year. In 2011, Seidel has earned $6.4 million.

Final table results:

1. Mike McDonald ($782,410)
2. David Steicke ($506,260)
3. Fabrice Soulier ($299,160)
4. Erik Seidel ($184,100)
5. Nam Le ($126,570)
6. Isaac Baron ($92,050)
7. Sean Getzwiller ($69,040)
8. Dutch Boyd ($57,530)
9. Adam Levy ($46,020)

Chino Rheem, best known for being one of the 2008 WSOP Main Event November Nine and for having over $4 Million in live tournament winnings, won the first Epic Poker League event winning $1 Million. The Main Event was a four day battle, featuring 137 of the world’s best players. When it was all said and done, Chino Rheem defeated poker legend Erik Seidel heads up to become the inaugural Epic Poker League Champion.

No sooner had Chino Rheem won the main event than controversy hit, as a line of disgruntled professional poker players lined up around the cage as Chino got paid out claiming Rheem owed them large sums of money. Some pros claimed that Rheem owed personally tens of thousands. An unconfirmed report stated that security had to step in to ensure that the situation didn’t get physical.

Chino Rheem, known for his outgoing personality and carefree attitude with money, is the guy who is known for picking up the tab when he’s up big, and getting into debt deep when things don’t go so well. We’ve seen it time and time again with poker players – the epic swings, the highs and lows. It’s what attracts us to them. It’s what makes them seem human.

Rheem’s story though, has a twist in that his debts come from a combination of staking deals gone wrong, as well as situations that are borderline unethical. The whole truth no one really knows, as much of this type of thing in the poker world is usually kept private. What is known is that friends of Rheem have come forward with accounts of wagering thousands of dollars on random events, like the flip of a coin or on the outcome of a swingy heads up match.

Many of the player’s who’ve come public have something in common. At the time of lending Chino funds, or prop betting with him, he was a complete stranger. Which begs the question, who’s at fault if someone lends a large sum of money to a complete stranger and doesn’t get paid back? Did Chino’s recent WSOP 2011 where he played 30 events and barely cashed at all effect this debt, or has this been an ongoing problem? Is it possible for someone to win a $1 Million first place poker prize, facing the world’s toughest competition, and at the same time have a gambling problem?

The newly formed Epic Poker League, headed by Annie Duke, took action when news of Rheem’s massive debts went public. Citing their player code of conduct, the Epic Poker League has put Chino Rheem on probation for the time being. Further violations could result in being barred from taking part in future Epic Poker League events. In this statement from the Epic Poker League, Rheem’s good standing with the league is dependent upon:

“Mr. Rheem must continue to proactively repay his outstanding debts by, from this point forward, using any and all proceeds Mr. Rheem personally receives from personal poker winnings worldwide to satisfy all of his remaining financial obligations in an orderly fashion.”

Chino responded to the controversy via Twitter:

“Ya, I won a million bucks! And I’m still broke! But I feel better than ever! Anyone Who’ wants to judge me, y’all better know me first! I’m ready to really rip shit up now! The difference this time is I got a game plan, a strong support system,and my swagger back babay!”

Well, that’s what you expect at the WSOP, right? Only the very best players compete in the event? That’s just not the case. The Main Event has always attracted a healthy portion of wealthy businessmen looking for excitement, celebrities looking to raise their profile, or players who built the bank roll to buy-in but just don’t have the skills. These players are mixed in with some major sharks, yes, but don’t get the idea that the Main Event is the best of the best. All you need is $10,000 to get in and, the truth is, a lot of bad players have $10,000.

These kinds of players, from the excitement seekers to the players taking a stab, can be found in any tournament, live or online. You might be playing for profit, playing your odds, making reads, but that doesn’t mean everyone else is.

Profitable play in a tournament is determined by countless factors of strategy, but don’t forget this one. You’re already categorizing your opponents based on their playing styles, their hand ranges, and what they’re capable of. What I’m suggesting is that you categorize what motivates a player to play: are they here to gamble, to get a rush, to get lucky, to get famous? Many of these motivators make a player un-bluff-able, in which case: stick to tight-aggressive. Or trap. Or slow play (though this is rarely recommended). And, rather important to remember: as these players make their rail exit and the field thins, switch gears to deal with the remaining, more-skilled opponents.

Hudge fund manager Brad Ruderman is suing Maguire specifically to recover more than $300,000 he lost to the Spiderman star. Ruderman is currently serving a jail sentence for running a massive Ponzi scheme, which he used to pay for his gambling. According to the books, Ruderman was as bad at poker as he was good at running a Ponzi scheme. Rodriguez is the latest big name to be revealed as a part of the poker ring, which met regularly in Beverly Hills hotels.

When questioned by ESPN New York about his involvement, Rodriguez refused to comment. “I’m not really going to get into any of that right now,” he said. “We’re going to focus on good little baseball here against a great team. … Any basketball questions? Any boxing questions?” In 2005, Rodriguez personally promised baseball commissioner Bud Selig that he would cease all involvements in private, illegal New York poker games.

Griffin, a 34 year-old from Texas, captured his first Gold Bracelet early Tuesday morning. The win came in Event #45, a No Limit Hold’em match featuring a $1,000 buy in. A field of 2,890 participants signed on for a shot at the winner’s seat, bringing the prize pool to $2,601,000.

A ten-year member of the United States Marines, Griffin has spent long stretches on active duty in Iraq. Following his honorable discharge, he has returned to the Middle East to serve as a private contractor. Now, he’ll have some flashy new jewelery to display to his fellows.

Initially, Griffin wasn’t expected to attend the WSOP. Yet, having returned to the states to care for his ailing mother, he somehow found himself seated once action began on Sunday. So does his mom figure into his new found chunk of change?

“Oh, absolutely,” said Griffin. “I’m transferring money to her account as soon as I get it. You know, she’s a senior, working-class, she’s going through chemotherapy and medicine is expensive. She lives pay-check to paycheck, so I’m looking really forward to helping her out.”

Ken Griffin wins the gold bracelet from Event #45 at the 2011 WSOP.

Perhaps the biggest name at the Event #45 Final Table (other than the eventual winner) was Antonio Esfandiari, who managed to earn $58,288 for his seventh place finish. And, though he finished outside of the final nine, Phil Hellmuth’s 28th place knockout snagged him his 83rd career WSOP cash, furthering his mark on the all-time leaderboard. This time, he took home just over $10,000.

Here’s how the rest of the final table wound up:

#1 – Kenneth Griffin ($455,356)
#2 – Jean Luc Marais ($282,676)
#3 – Philip Hammerling ($199,366)
#4 – Eric Baudry ($143,991)
#5 – Andrew Teng ($105,262)
#6 – Jonathan Lane ($77,873)
#7 – Antonio Esfandiari ($58,288)
#8 – Aaron Massey ($44,138)
#9 – Jeremiah Siegmund ($33,813)

In total, the top 297 finishers received a return on their investment. The minimum payout was set at $1,898, the first of which went to Crisoldo Bautista of the Philippines.

One of the most notable aspects of this $2,500 No Limit Hold’em event wasn’t at the tables at all, but at the rail. The spectators at Event 36 were an especially lively bunch, drawing a great deal of attention from both the players and the press. Their exuberance and intensity was, by all accounts, a sight (and sound) to behold.

The event champion, however, is used to intense situations. Before turning pro, Lakhitov made his living as a member of the Russian Red Army. He discovered the game while on active duty, practicing extensively with his comrades. After his discharge, the newly christened veteran decided to take a shot at playing professionally. His first trip to the WSOP came last year, when he discovered that, along with the huge cash prizes, the winners of each event were rewarded with the rarest of poker treasures – the gold bracelet. Soon, the Russian’s sites were set on winning one of these treasures, which he planned to give to his wife.

Now, Mrs. Lakhitov has her bracelet, and her husband has an extra $749,610 in his bankroll.

Here were the final table totals:

#1 – Mikhail Lakhitov ($749,610)
#2 – Hassan Babjane ($463,480)
#3 – Thomas Middleton ($305,015)
#4 – Thomas Miller ($219,885)
#5 – Ed Sabat ($160,949)
#6 – Matthew Berkey ($119,528)
#7 – James St. Hilaire ($90,021)
#8 – Conrad Monica ($68,719)
#9 – Lloyd Padgett ($53,137)

Second place finisher Hassan Babjane, it should be note, logged his first ever cash in the WSOP. There were a few other notable names who finished in the including, according to a WSOP press release, “David “Dragon” Pham (37th), Andrew Cohen (49th), David Diaz (89th) and J.C. Tran (151st).”

5. Hold’Em Poker for Advanced Players, Slansky, Malmuth

The opening line in this book’s summary is: “Texas Hold ’em is not an easy game to play well.” Well, that’s true! Originally published in 1988, this book changed the poker scene forever. It’s teachings and instructions are likely known by many players today who have never read the book, simply because of how far this book penetrated the scene. In 1999, Slansky and Malmuth revisited the book and updated it for today’s game. You don’t want to miss it.

4. Championship No Limit & Pot Limit Hold ‘Em, Cloutier, McEvoy

T.J. Cloutier, one of the early road gamblers similar to Doyle Brunson, has cashed at the WSOP 55 times. Not surprisingly, you’ll find his name in the Poker Hall of Fame; he was inducted in 2006. In this book, he joins up with Tom McEvoy (four WSOP bracelets) to write about tournaments, and how to become a champion. Cloutier, it is worth noting, has won more recorded poker tournaments than anyone else in history. His advice is verifiably excellent.

3. Caro’s Book of Poker Tells, Caro

In the world of poker books, this will likely be one of the first you come across. In this classic (classic, because though it was published in 1984, it is still just as relevant), Caro reveals a laundry list of tells which have made him wealthy for decades. These tells will make you enough money in one session to buy a cart of these books. True, these tells won’t work against the 5% of elite poker professionals, but you might be amazed by how many of these tells are applicable to seemingly unreadable opponents.

2. Doyle Brunson’s Super System, Brunson

Does this book need an introduction? Doyle Brunson is a legend, still living, and his book has something to do with it. Brunson’s playing style in his early road traveling days was downright mythical: nobody understood it, everyone wanted at it, while Brunson built himself stacks of bills. In 1979, Brunson did something which he is still criticized for (but he’s okay with it): in Super System, Brunson gave away his secrets of play, why he plays the way he does, and the many tips and tricks that has earned him a fortune many times over for the better part of a century. You haven’t studied poker unless you’ve read Super System.

1. The Theory of Poker and No Limit Hold ‘Em: Theory and Practice, Slansky

These two books, which could easily be combined into one big book, are not for beginners. In fact, they’re not even intermediate: these are written for the serious, committed player who looks to improve his game every chance he gets. The Theory of Poker focuses on limit poker, but all of its lessons are applicable to NLH as well (you’ll just have to adjust your math accordingly). But instead of adjusting calculations, go ahead and get No Limit Hold ‘Em: Theory and Practice. The two of these poker books combined have been, for at least this author, the difference between barely scraping a profit to pulling in a livable income. These books lay an unshakable foundation, which produces winning results at all but the very toughest of games. These aren’t light reads, but every page you digest is money in your wallet.

That was the story in the 26th event of this year’s World Series of Poker, a $2,500 6-handed match of No Limit Hold’em. A total of 1,378 people dropped the necessary buy-in, bringing the total prize pool to $3,134,950. The top 126 players received a return on their investment, with a minimum payout of $5,235.

Prior to his win in Event 26, Kovalchuck had posted a pair of cashes in this year’s WSOP. The first came in Event 10 (NLHE, Six-Handed, $1,500) with a 99th place finish, followed by a 105th place berth in Event 22 (PL Omaha, $1,500). For his latest effort, the youngster netted $689,739.

All in all, the young man has collected a sizable haul in his first outing with the WSOP. But, as he told reporters, monetary value plays only a small roll in his desire to play:

“I feel very happy. I do not know what to say. I do not think about the money. The money is second to me. I wanted the gold bracelet and to win.”

Here’s the final table rundown on Event 26:

#1 – Oleksii Kovalchuk ($689,739)
#2 – Anton Ionel ($428,140)
#3 – Chris Moorman ($271,800)
#4 – Dan O’Brien ($179,162)
#5 – Mazin Khoury ($121,416)
#6 – Anthony Ruberto ($84,549)