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William ‘twooopair’ Reymond Wins First World Series of Poker Online Bracelet Of The Summer

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What does 12 hours and $365 get you in the poker world? These days, it can get you a gold World Series of Poker bracelet and a six-figure payday.

William Reymond, a French journalist who is currently writing a book about the Kennedy assassination, was one of 2,972 entries in the first of four online events this summer at the 2018 WSOP. The 47-year-old outlasted the largest online field in WSOPhistory to win his first career bracelet and the $154,995.

It was Reymond’s first WSOP cash. Playing under the name ‘twooopair,’ Reymond sealed his victory when his 10Diamond Suit9Diamond Suit made a full house against the KSpade Suit3Spade Suit of Shawn ‘sHaDySTeeM’ Stroke.

The final table also featured Anthony ‘nowb3atthat’ Spinella, who won the first ever WSOP online bracelet back in 2015. Other notables who made a deep run included Taylor ‘ZeroTo100’ Von Kriegenbergh (11th), Ryan ‘bitc0in’ Riess (13th) and Chris ‘2fly2die’ Hunichen (24th).

There are three more online events on this summer’s WSOP schedule, which is open to players not only in Nevada, but also Delaware and New Jersey. A $565 six-handed pot-limit Omaha event takes place on June 22, and the $1,000 no-limit hold’em championship takes place June 29. The final online eent is a $3,200 high roller on June 30.

Here is a look at the final table results.

Place Player Payout
1 William “twooopair” Reymond $154,995
2 Shawn “sHaDySTeeM” Stroke $94,264
3 Stephen “SteveSpuell” Buell $69,016
4 Ryan “LoveMy11Cats” Belz $50,592
5 Elliott “Ekampen05” Kampen $37,530
6 Josh “YoelRomero” King $27,977
7 Anthony “nowb3atthat” Spinella $21,250
8 Michaelo “myapologies” Hauptman $16,279
9 Jennifer “moistymire” Miller $12,477

Nick Petrangelo Wins 2018 World Series of Poker $100,000 High Roller

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Nick Petrangelo has won the inaugural running of the World Series of Poker $100,000 buy-in no-limit hold’em event, defeating a field of 105 total entries to secure his second WSOP gold bracelet and the massive first-place prize of $2,910,227. The 31-year-old poker pro from Feeding Hills, Massachusetts previously won the 2015 $3,000 no-limit hold’em shootout event for $201,812. He now has $14.5 million in lifetime live tournament earnings.

Petrangelo came into this event fresh off of a sixth-place finish in the $300,000 buy-in Super High Roller Bowl for $900,000. He then managed to survive to the final day of this event as the chip leader, an enviable position that brings with it a unique form of pressure.

“Sleeping on the chip lead is definitely a little more stressful,” Petrangelo told WSOP reporters after coming out on top. “It’s kind of like in a sports game. If you have the lead and there are a few minutes left, it’s more stressful sometimes because you want everything to work out. There are expectations to deal with. I’ve tried to teach myself to just be happy to be here and just be excited to be playing. “Luckily for me today, it was the easiest anything has ever gone. I coolered everybody and ran super hot. No complaints. The last two days were super easy for me. The last time I played any tough pots were around the middle stages of Day 2. I’m happy with my decision making, but ultimately, I just had sick cards and it worked out.”

In addition to the title and the money, Petrangelo also earned 1,200 Card Player Player of the Year points as the champion of this event. This was his first title of 2018, but it was his eighth final table appearance. With $5,027,971 in year-to-date earnings, Petrangelo has climbed into 11th place on the POY leaderboard.

Petrangelo was far from the only player deep in this event who is in contention for Player of the Year honors. In fact, four other players at the final table are now among the top ten in the POYstandings, including Adrian Mateos (8th – $295,066), Jason Koon (7th – $372,894), Stephen Chidwick (6th – $484,551) and Bryn Kenney (5th – $646,927). Also at the final table was Fedor Holz, who is sixth on the all-time money list with $26,987,103 in earnings. He finished ninth for $240,265.

In the end it came down to a heads-up showdown between Petrangelo and 2011 WSOP Europe champion Elio Fox, who won the first open event of the 2018 WSOP less than a week ago in the $10,000 turbo bounty no-limit hold’em event. Petrangelo began with just over than a 3-to-1 chip advantage, but Fox was able to mount a swift comeback that saw him take a slight lead after only six hands of action. Petrangelo was being ground down, but was able to come from behind with his JDiamond Suit3Diamond Suit beating Fox’s pocket fives after the two got involved in a raising war that ended in Petrangelo five-bet shoving and Fox making the call. The board brought the QHeart SuitJHeart Suit6Diamond Suit3Heart Suit8Spade Suit to give Petrangelo two pair and the chip lead once again.

On the very next hand Petrangelo raised to 600,000 with the QClub Suit8Spade Suit and Fox three-bet to 900,000 holding the 5Club Suit2Diamond Suit. Petrangelo four-bet to 1,800,000 and Fox called. The flop gave Fox the lead when it brought the ASpade SuitAHeart Suit2Club Suit. Fox checked, only to raise to 3,000,000 after Petrangelo fired a continuation bet. Petrangelo called and the turn brought the 8Diamond Suit. Fox checked and Petrangelo bet 4,000,000. Fox called and the 3Club Suit completed the board. Fox checked, Petrangelo moved all-in and Fox called. Petrangelo’s aces and eights were the best hand, earning him the pot and the title. Fox took home $1,798,658 as the runner-up finisher.

Here is a look at the payouts and POY points awarded at this final table:

Place Player Earnings (USD) POY Points
1 Nick Petrangelo $2,910,227 1,200
2 Elio Fox $1,798,658 1,000
3 Aymon Hata $1,247,230 800
4 Andreas Eiler $886,793 600
5 Bryn Kenney $646,927 500
6 Stephen Chidwick $484,551 400
7 Jason Koon $372,894 300
8 Adrian Mateos $295,066 200
9 Fedor Holz $240,265 100

It’s Time to Make Your Pick for the 2018 WSOP Poker Hall of Fame

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The 2018 WSOP Poker Hall of Fame is now open for business, which means fans can now nominate the people they believe should be named among the poker world’s finest.

As it does every year, the WSOP is calling for those with an interest in poker to choose the people they believe have made a significant contribution to the game. Fans can cast their vote online at WSOP.com using a valid email address, but only one submission per person is possible.

Nomination Criteria

To comply with the Hall of Fame eligibility requirements, all nominees must be at least 40 years old, have played for high stakes against the best in the world, and “have stood the test of time.”

For non-players (or less accomplished players) who have made more of their impact off the felt, nominees must have “contributed to the overall growth and success of the game of poker, with indelible positive and lasting results,” according to the official rules governed by the WSOP.

Phil Ivey and Dave “Devilfish” Ulliott became the newest inductees last year. For Ivey, it was a “first ballot” induction, meaning he was selected the first time year in which he was eligible.

Selection Process

Despite turning 40 just before the voting process opened, Ivey was the favorite to make it at the first time of asking. As well as winning 10 WSOP bracelets and more than $26 million in live tournaments, Ivey is considered one of the toughest cash game players in the world.

For Ulliott, the honor came posthumously, two years after he passed. On top of being one of the biggest winners in British poker, Ulliott’s personality endeared him to millions and helped make poker compelling viewing for mainstream audiences.

To be considered a Hall of Famer, any nominations in 2018 will have to meet these lofty achievement standards and more.

Fans will now have the next few weeks to offer their suggestions before the top ten picks are put before a panel of judges that include media members and current Hall of Famers, who will make their picks from the selections the public provides. They’ll then vote, and up to two winners are scheduled to be announced in September before a special induction ceremony will take place at a date to be determined in the fall.

Julien Martini Wins $1,500 Omaha Hi-Lo 8 or Better for $239,771

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26-year old Julien Martini won his first World Series of Poker bracelet and took home $239,771 after finishing in first place in Event #4: $1,500 Omaha Hi-Lo 8 or Better.

“When I was 14 and I started poker, I was like, ‘Whoa, what kind of guy can win a $1,500 tournament or a $10,000?’ I was dreaming about this for seven years. It’s one of the best things in my life. I’m super proud and very happy.” said Julien Martini.

The final day started with Julien Martini as the chip leader and Kate Hoang in second place. Kate Hoang finished second in the 2016 WSOP $3,000 pot-limit Omaha eight-or-better event for $182,281. Mack Lee and William Kopp survived to day 4 with only 2 big bets each, and it wasn’t long until both were sent to the rail. But that was his high point on Day 4, and about 40 minutes after Kopp was eliminated, Lee finished in third place for $104,016.

WSOP Event #4 Final Table Results:

Place Winner Prize (USD)
1 Julien Martini $239,771
2 Kate Hoang $148,150
3 Mack Lee $104,016
4 William Kopp $74,058
5 Brandon Ageloff $53,482
6 Chad Eveslage $39,182
7 Rafael Concepcion $29,128
8 Denny Axel $21,977
9 Tammer Ilcaffas $16,832

Joe Cada Wins 2018 WSOP $3,000 No-Limit Hold’em Shootout

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2009 WSOP Main Event winner Joe Cada won 2018 WSOP Event #3: $3,000 No-Limit Hold’em SHOOTOUT for $226,218, defeating a field of 363 entries to win the third gold bracelet of his career.

“It’s tough to win any no-limit event,” he told the WSOP. “You have to get really lucky and I ran really well. There were points in the tournament where I could’ve easily been on the sidelines.”

“There’s a much different dynamic at the final table than while playing through the tournament,” said Cada, about his ability to survive slow stretches and up winning three straight shootout rounds. “I just stayed patient and hopefully [would get] a rush of cards at the end, when the blinds were big.” That’s indeed how it played out, with Cada coming out on top in huge pots against both Phillips and McKeehen, who between them held the lead for most of the final day’s action.

In the hand against Phillips that essentially decided the event, Cada paused just for a beat or two before calling Phillips’ all-in shove. “I knew it was a call,” he said, “playing so many heads-ups and so many simulations. The stakes were high. I wanted to give it a couple of seconds. It was for over thirty big blinds, it was a big pot, but ultimately I knew it was a call.”

Final Table Results of WSOP Event #3: $3,000 No-Limit Hold’em SHOOTOUT:

Place Player Prize
1 Joe Cada $226,218
2 Sam Phillips $139,804
3 Joe McKeehen $101,766
4 Jack Maskill $74,782
5 Harry Lodge $55,480
6 Ihar Soika $41,559
7 Anthony Reategui $31,435
8 Taylor Wilson $24,013
9 Joshua Turner $18,526
10 Jeffrey Trudeau $14,437

 

WSOP 2018 Behind the Scenes: Spending the Day at the World Series of Poker

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The World Series of Poker (WSOP) is the field of dreams for poker players.

Each summer, thousands of poker players — recreational weekend warriors, hardcore grinders, and well-bankrolled pros — descend on Las Vegas as temps creep up towards the three-digit mark. There, for seven weeks of juicy cash games and tournaments that pay out life-changing money, the Rio All-Suite Hotel and Casino becomes home.

The first wave of players file into the Rio’s conference center in late May. By the time the Colossus — a bracelet event that’s historically attracted more than 22,000 entries — begins, the wide hallways that lead from one event room to another start to become a sea of humanity.

Buy, Buy, Buy

Anytime you have a captive audience with a very targeted set of interests, you’re going to have vendors hoping to make bank on that demographic. And the WSOP is no exception. Year after year, everyone from those hawking sunglasses that hide your dilated pupils to every sort of cell phone accessory salespeople are at the ready, as eager to make a deal as a cake maker at a bridal conference.

As you walk down the Rio convention center halls on your way to play poker — and with every bathroom or food break that necessitates another stroll down the same — not always friendly salespeople, who desperately need to sell enough products to justify their company’s expensive monthly kiosk rental fee, will ask you the same genre of question you now hear in any major mall as you pass handcream and hair clip vendors.

“Do you need a new cell phone charger case?” is a frequently heard attempt to get you to stop, drop some cash, and roll over for a sale. We didn’t, so no sale today, buddy, sorry.

By Saturday evening, the pushy sales guys asked me that question for what had to be the 15th time in a week. On tilt from a rough cash game session, I decided it was my turn to be a nuisance, so I took my camera out and snapped a photo of them.

Celebrity Central

Next to a free swag bag worth $25K at the Oscars, there’s nothing your average syndicated buyout Hollywood A-list TV and film actors like more than to blow off some of their ridiculously bloated bankrolls at the World Series of Poker. Sports stars are no different: there are only so many homes in the Holmby Hills hood of Hollywood that one person can occupy.

Experience The World Poker Tour At Esports Arena Las Vegas In May!

There are actors who show up pretty much every year, like Everybody Loves Raymond‘s Ray Romano and his series sidekick and avid poker player, Brad Garret. Olympic icon Michael Phelps and film actor Kevin Pollak are also comeback kids when it comes to making time for the WSOP most years.

On Saturday, as I was checking out some of the action, I bumped into (literally) James Woods, actor and unabashedly politically conservative tweeter. The coke-snorting villain in one of my all-time favorite movies, Casino, Woods was gracious enough to pose for a picture after he finished a banana on his way back to the table in Event #8, $2,500 Mixed Triple Draw Lowball.

“Got to get that nutrition,” he said with a smile.

After officially retiring from acting in 2017, Woods has devoted much of his time to poker and now competes in numerous WSOP events each year.

Besides thespians and sports stars, poker royalty like Phil Hellmuth, Daniel Negreanu, and Jason Mercier are often spottable walking down the lengthy Rio corridors: after all, they make millions playing the game, but they ultimately have to get up and use the bathroom and eat, just like the rest of us.

Where to Find the Action

There are three main tournament event and cash play rooms, all massive in size. The Pavilion (below) is mostly used for cash games and daily deep stack tournaments. Most bracelet events take place in the Brazilia or Amazon, which may be a familiar sight to ESPN’s TV fans.

The well-lit featured table — which will host many of the 78 bracelet event final tables in 2018 — is located inside the Amazon room. Limited seating is available, free of charge, for fans to rail the action in person.

For those who like to watch in general, guests are free to roam the tournament rooms, as long as they remain in designated areas (if you don’t, a multitude of security guards are at the ready to stop you). Even if you can’t afford to buy into an event (or simply don’t want to), the World Series of Poker offers a unique and exciting fan experience.

Just dodge the cell phone case salespeople, and you can expect to have a fascinating time to talk about when you return to your non-Vegas life.

PokerStars Casino Taps Another Online Slots Hero as $3M Jackpot Hits on Proprietary Game

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PokerStars has set a new record for their online slots payouts, as a PokerStars Casino player hit a progressive jackpot on the Millionaires Island game worth more than $3 million.

This win by a player known as “Anchor72” marked the eighth slots payout for PokerStars north of $1 million in the past 18 months.

Millionaires Island and two other internally developed slots are responsible for creating all eight of the new online slots millionaires.

Seven-Figure Wins

The jackpot Anchor72 hit on Thursday set a record — it was the biggest ever for a game developed by pokerstars jackpot ever on Stars. After spinning in the right combination on Millionaires Island, the slots fan scooped $3,047,961, which is the biggest win from the operator’s exclusive games.

In 2018, PokerStars has created three millionaires, with the largest win in March, when zafujohn banked $3.3 million from a non-exclusive slot, Mega Fortune.

As well as congratulating the latest Millionaire’s Island winner, PokerStars Casino Managing Director Bo Wänghammar was quick to state that he wants to see more of the same in the future.

“We’re focused on introducing more new, innovative and exciting games which allow us to create more winning moments for our customers and add to the twelve millionaires we have already made,” Wänghammar said in an press release.

Poker Takes Backseat

The comment from the senior executive comes at a time when poker’s dominance at PokerStars is starting to fade. In its Q1 report for 2018, The Stars Group announced a 23.8 percent improvement in year-on-year revenue.

Although poker rake for the period was up by 2.3 percent, casino and sports betting showed the most promise. Revenue for these two verticals grew a combined 55 percent, and now account for 34.2 percent of overall earnings.

How To Get Involved And Improve In Poker

Looking back over the last two years, poker’s contribution has steadily declined. In Q2 of 2017, the total contribution was 66.5 percent, down from 75.5 percent the previous year.

For players concerned that PokerStars is edging more towards a casino and sports betting site, this trend could be a concern.  While the Q1 report shows there has been some crosspollination that’s helped poker revenue improve, the evidence suggests it will play a less significant role in the future.

As noted by Wänghammar, this will lead to more innovations in the casinos space, which should mean more seven-figure slots winners in the coming years.

For players, increased activity in the casino sector could result in more liquidity and bigger poker guarantees. However, it’s equally possible that the increased focus on non-poker products will lead to a decrease in action and value for the company’s core asset.

Deepstack Championship Poker Series Underway At The Venetian

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The Venetian® has taken its popular DeepStack summer poker tournament series to a whole new level for 2018. From now until July 29 the series will see a total of 150 events with more than $31 million in guaranteed prize pools.

New for 2018 is the fact the events taking place from today until July 6 will be hosted in the Sands Hall G Convention Center, with the rest of the tournaments taking place in The Venetian Poker Room.

Sure to raise the bar in terms of player comforts, the 2018 DeepStack Championship Poker Series highlights include a player’s lounge with projection screens, couches and high-top tables, 103 tournament tables, a designated final table area with stadium-style seating, and ride-share drop-off steps from the entrance.

With such an expansive schedule, the DeepStack Championship Poker Series has something for everyone with a variety of options and formats including bounty, turbo, multi-day, and single-day tournaments. Game options include no-limit hold’em, pot-limit Omaha, and limit Omaha eight-or-better, as well as others. Tournament buy-ins begin as low as $200 and top out at $5,000 with nearly every buy-in imaginable in between, ensuring there are affordable and exciting options for every type of player.

Players can also participate in three different national poker tours inside The Venetian: The Mid-States Poker Tour, featuring a $1,100 buy-in and a $3.5 million guarantee, June 3-8, a second MSPT with a $1,600 buy-in and a $3 million guarantee, and of course the Card Player Poker Tour, with a $5,000 buy-in and a $2 million guarantee, July 14-19.

Some of the DeepStack Championship Poker Series most exciting events:

  • June 3-8: $1,100 Mid-Stakes Poker Tour Event ($3.5 million guarantee)
  • June 7-July 1: $400 NightStack with eight starting flights, Day 2 July 1 ($1 million guarantee)
  • June 12-14: $600 Seniors Event ($600,000 guarantee)
  • June 18-22: $1,600 Mid-States Poker Tour Event ($3 million guarantee)
  • June 28-29: $1,600 No-Limit Hold’em Bounty ($700,000 guarantee)
  • June 30-July 3: $600 No-Limit Hold’em Monster Stack ($750,000 guarantee)
  • July 5-8, July 9-12: $1,100 Summer Saver I & II ($1 million guarantee each)
  • July 14-19: $5,000 Card Player Poker Tour Event ($2 million guarantee)
  • July 24-29: $400 No-Limit Hold’em Closer ($400,000 guarantee)

This incredible tournament series, coupled with the famous hospitality and amenities of The Venetian, is the can’t-miss poker event of the year. Visit the series homepage for more information.

Jordan Hufty Wins Casino Employees Event

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Jordan Hufty waited 15 years for what happened on Thursday evening at the Rio. He accomplished his poker dream by winning a World Series of Poker bracelet in the $565 Casino Employees event.

The Las Vegas poker dealer and supervisor defeated a field of 566 entries to earn $61,909 and what he’s been dreaming about since 2003.

“I’ve thought about winning a bracelet about every day of my life for the past 15 years,” said Hufty. “So, to actually have it come through today is pretty special.”

Originally from Michigan, Hufty moved out to Las Vegas about five years ago with two of his friends from college. They came out to the desert with poker on their minds and success as their goals. They were both on his rail when the final card was dealt and Hufty became the latest WSOP bracelet winner.

After the final card hit the felt and Hufty locked up a win, he was overcome with emotion. He took a few moments to shed a few tears of joy, embrace his friends and take in the moment.

“There’s not even words for it,” said Hufty. “Whenever you build something up like that for so long, and like especially something, where so much of it is out of your control. Even if you do everything completely perfect, there is still a reasonable chance that you don’t ever come through and get a bracelet. For me to do that and be able to capitalize on that, it’s huge.”

While Hufty credited a ton of study of the game as the main reason for his success on Thursday, he knew that he wouldn’t have gotten that work ethic without meeting his eventual Las Vegas roommates.

“Two people that I definitely want to thank are the two guys on my rail here,” said Hufty. “100 percent I wouldn’t be here if I didn’t meet those two guys right here. They are definitely the biggest influence on my game over the last four or five years, ever since I moved out to Vegas with them.

“When I met these guys, my poker game and my study habits and stuff started to slack a bit. Then, I moved to college and met these two guys. For the first time, I met people that I thought were significantly better than me. That was able to motivate me, and obviously, once I got back into [studying] the game, they were really big into it too.”

Before Thursday’s score, Hufty only recorded two previous live tournament cashes, for less than $2,000 combined. He isn’t a fish by any means, with most of his tournament experience coming online, but he has plenty of experience in high stakes poker, just on the other side of it.

How To Get Involved And Improve In Poker

Hufty dealt on old episodes of ‘Poker After Dark’ as well as dealing and flooring some of the highest stakes games in Las Vegas. Having that experience under his belt, he felt right at home playing for all the proverbial marbles on poker’s biggest stage.

“It didn’t feel so out of place to me,” said Hufty. “This is the first time I’ve played on a table like this with the lights, and the people watching, and reporting. I don’t know if it’s from my experience in being around poker for higher amounts of money, but I felt comfortable coming in today. I thought I would feel slightly more out of place coming in.”

With 15 years of poker experience and now a bracelet to his name, it would be easy for Hufty to relax and bask in his accomplishment. Poker is what drives Hufty, though. It doesn’t seem like he’s going to take some time off any time soon and will just continue to push himself to get better.

“Passion is a weird thing,” said Hufty. “I’m not really passionate about a whole lot of stuff and to find something that I actually care about, it doesn’t come very often. Once I found something I really, truly enjoyed and realized that there is a way to make money at that, it’s just a never-ending hunger. The fire is just as strong now as it was two days ago before I bought into this.”

The second and final day of what was the first event on the schedule got underway at noon with 13 players remaining. Just 30 minutes into the day, they were down to 10 players, with Hufty taking his seat at the final table second in chips.

Once they were at one table, however, Hufty took over. He scored a double knockout to eliminate Brad Helm in 10th place and Jason Pepper in ninth when Hufty’s pocket kings got all in preflop against Pepper’s ace-king and Helm’s ace-seven suited.

That moved Hufty into the chip lead. A lead that he never relinquished.

“Yeah, I came in with a pretty good feel for my table,” said Hufty. “I’d been playing with the same group for a while last night and felt pretty confident coming in.”

He had the best hand in his previous confrontation, but Hufty sent Skyler Yeaton home in eighth place after he spiked a three-outer. Yeaton found the last of his chips in the middle preflop with ace-queen against Hufty’s ace-four.

Yeaton’s rail started shouting for a four, not realizing it was Hufty who needed the four, and unfortunately for Yeaton, they got what they asked for. Hufty spiked a four on the flop and Yeaton never improved enough to stay alive.

Thomas Yenowine lost a flip with ace-king against Sanders’ pocket deuces to leave the tournament with six players. Tom Booker was eliminated by Zachary Seymour in sixth place and then Hufty got back to work.

He moved over the million-chip mark during six-handed play and then eliminated Won Kim in fifth place with his ace-king against Kim’s ace-eight. Just a few minutes later, Hufty eliminated Seymour in fourth place when he won a flip with ace-jack suited against Seymour’s pocket nines.

Three-handed play lasted for about an hour before Kate Kopp fell in third, running into the buzzsaw that was Hufty.  Kopp moved all in on the button for about 13 big blinds with   , but ran into Hufty’s pocket aces in the big blind.

About three hours into the day, the final 13 players were down to heads-up play. Hufty held a nearly 2-to-1 chip lead. Sanders didn’t roll over, however, and over the next 40 hands, pulled back to nearly even with Hufty.

“That heads-up battle, we started off super deep, so it took a long longer than I thought,” said Hufty. “But any time you start 70 plus big blinds deep in a heads-up match with hour levels, that can definitely happen.”

Hufty never let Sanders take the lead and pulled away again, opening a 3-to-1 lead over another 50 hands. After nearly five hours of heads-up play, which was most of the day’s action, Hufty finished off Sanders when his king-queen bested Sanders’ pocket threes.

Final table results:

1st: Jordan Hufty – $61,909
2nd: Jodie Sanders – $38,246
3rd: Kate Kopp – $26,250
4th: Zachary Seymour – $18,332
5th: Won Kim – $13,031
6th: Thomas Booker – $9,432
7th: Thomas Yenowine – $6,953
8th: Skyler Yeaton – $5,222
9th: Jason Pepper – $3,998

Finnish National Betting Agency Veikkaus Announces Massive Lay-Offs

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The Finnish national betting agency, Veikkaus Oy, eliminated a total of 129 jobs after co-determination negotiations were brought to an end at the beginning of the week.

Veikkaus is currently fully-owned by the country’s Government, which has allowed to impose a legal monopoly on the Finnish lotteries and sports bettingoperations. According to information released by the company itself, Veikkaus has about 2 million regular customers, while approximately 400,000 people use its services every week.

The company, which is currently operated by the Ministry of Education of Finland, was established in 1940 as a result of the joined efforts of the Finnish Workers’ Sports Federation and the Football Association of Finland. Following the decision to start offering the national lottery, Veikkaus gained increasing popularity among local citizens, with approximately 70% of the Finnish people taking part in these services.

For the time being, it is the Ministry of Education which allocates the proceedsgenerated from the state-owned company and distributes them to various art and science projects, as well as to amateur sports. Back in 2010, Veikkaus provided the Ministry with approximately half a billion Euros to be shared with other national organizations. Gambling regulation, however, is regulated by Finland’s Ministry of Internal Affairs.

Co-determination talks started at the beginning of April between representatives of the employees and the company management. At the beginning of the talks the company said that up to 140 employees were at risk of losing their jobs.

Finns Are the Biggest Gamblers in Europe, Survey Says

Despite the fact that Veikkaus holds the monopoly over sports betting and lotteries in the country and the gambling sector is regulated by local authorities, Finland has been among the biggest spenders in terms of gambling. According to a recent survey, local citizens rank fourth among the biggest gamblers on a global scale, with around €2 billion spent on an annual basis on various games of chance.

A 2015 report issued by the National Institute for Health and Welfare, Finnish people were the ones who wagered the most in Europe, with approximately 80% of the country’s population gambling every year.

As mentioned above, the local gambling sector is directly controlled by the Government through a monopoly controlled by the national betting agency Veikkaus. Apart from the profit brought by the company to government ministries, Vekkaus also brings over €200 million in taxes to the Finnish Government budget.

Earlier in May, Veikkaus Oy has terminated a large number of customers’ accounts due to clarification of certain bank account policies. The exact number of accounts closed has not been disclosed by the state-owned agency, but according to media reports they amounted to approximately 30,000.

This spring, Veikkaus has contacted its customers in order to inform them for the bank account policies, with the players being reached by e-mail, letters and text messages. All players were asked to make sure that the bank account used was in line with the terms of use of the national agency.

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