High Stakes Poker Today
Nowadays the term High Stakes Poker means much more than it did before. Before World Series of Poker even started, there already were five major high stakes poker tournaments with prizes starting from 350,000 dollars. In 1999, there was only one event except WSOP that paid 320,000 dollars. With the recently announced 10,000 dollars buy-in event at Hustler Club, this year there will be at least nine high stakes poker tournaments with over 350,000 dollars as the main prize.
The fist high stakes poker event held this year was the World Poker Open held at Horseshoe Hotel and Casino (Jacks Place), Tunica, Mississippi. The event was broadcasted by ESPN. The first place winner was awarded with a cool 500,000 dollars sum, and the second place winner walked away with 250,000 dollars. Two last players left at the final table were Humberto Brenes from Costa Rica and Erik Seidel from Las Vegas. Erik is a recognized poker star, who was featured in the movie Rounders at the duel between him and Johny Chan in 1988 WSOP. Humberto also has significant poker past. Both Erik and Humberto possess at least three World Championship bracelets.
The final hand at World Poker Open started with 3,000 antes and 10,000-20,000 dollars blinds. Humberto called 10,000 dollars with a King of Diamonds and 10 of hearts. Erik raised 50,000 dollars with A of clubs. Humberto called the 50,000 raised by Erik. The flop came down with a King of Spades, a Queen of Spades and an 8 of clubs. Erik checked and Humberto wend all-in. Erik had about 400,000 dollars left and placed all his money to call. As he told later that he knew Humberto was a very good poker player, and the question is his head was whether the actions of Humberto mean that he has a strong hand. Taking into the account the 5% of bluffing and a decent chance of Humberto having a flush or a straight draw, with which Erik was a favorite and had a good chance to win the pot, Erik decided to call.
The hands were turned up and Humberto resulted to be a favorite with his King and Erik's pair of Queens. An ace, a queen or a pair of sequential clubs were needed to make Erik win. The fourth card at the board was a Jack of Spades, making the whole board be: K, Q, J of spades and an 8 of hearts. Now the only hope for Erik was a Queen for three Queens or a 10 for a straight. The final card was a 4 and Humberto won the championship.