Phil Ivey Wins Eighth WSOP Bracelet

“…gulp”

An ellipsis and four letters.  So simple, yet it says so much.  This was the Tweet made by Howard Lederer at 4:49am Las Vegas time in response to fellow Team Full Tilt member Phil Ivey winning his eighth World Series of Poker (WSOP) bracelet.  Ivey out-dueled poker author and 2006 double bracelet winner Bill Chen to win the $3,000 HORSE event and $329,840.  Ivey has now pulled into a tie with Erik Seidel for fifth on the all-time WSOP bracelet list behind Phil Hellmuth (11), Johnny Chan (10), Doyle Brunson (10), and Johnny Moss (nine).

But that princely sum of just over $329,000 pales in comparison to the amount of money Ivey may have won in side bets with other poker pros.  It is not known for certain exactly how much Ivey will be collecting from top players such as Eli Elezra and Tom “durrrr” Dwan, but put it this way, word is that after winning, Ivey turned to someone and asked, “So how much is first, anyway?”

This brings us back to Lederer and his concise Tweet.  According to PokerListings, before this year’s WSOP, he bet Ivey $5 million that the young poker stud would not win two WSOP bracelets by the end of 2011.  Lederer is obviously starting to sweat now that Ivey is halfway there with all of next year’s WSOP plus 17 events this year still remaining.  After the tournament, the 33-year old Ivey told WSOP officials, “I think I can win 30 gold bracelets.  I think I can reach that if I keep playing and stay healthy.”

Ivey’s run to the title was one of the more impressive of the 2010 WSOP.  He was in decent shape when play started Monday with 25 players remaining, but when the field was narrowed to 16, or the final two tables, he was lagging behind as the shortest chip stack.  He then made a tremendous run and to reach the final table in second place behind only Chen.

He would need all of those chips to beat an extremely tough final table.  In addition to Chen, it included a combined eight bracelets from Jeffrey Lisandro, John Juanda, Ken Aldridge, and Chad Brown.  And those are just the final table players.  Bowing out Monday on the way to the final table were names like David Singer, Scott Seiver, Dan Heimiller, Farzad Bonyadi, and David Benyamine.

But even after knocking out Juanda in third place, Ivey entered heads-up play with Chen facing a 3-to-1 chip deficit.  After about 10 minutes, the gap had widened, as Ivey’s stack fell below one million.  But just over a half-hour into heads-up, Ivey took the lead, eventually flip-flopping the stacks that the two players had to start the one-on-one match.  Chen didn’t give up, though, and took the lead back, but Ivey turned the tables once again and didn’t look back.

After about two hours, the end came on a Razz hand.  On fifth street, all of Chen’s chips were in the pot and the two players showed their hands.  Chen had a strong one – a made 7-6 – but Ivey had him beat with a made 6-5.  Chen would need either a 3 for a chop or running 3-4 for a wheel to win the pot.  Both players received a 7 on sixth street, changing nothing, and Ivey was the one who made his wheel, drawing a 4 on the river to seal the deal.  Chen won $203,802 for second place.

According to TheHendonMob.com, the win gives Ivey $4,886,988 in total winnings in his WSOP history, putting him 12th on the all-time list.  The $329,840 in prize money for the tournament moved him back ahead of Daniel Negreanu for the top spot on the overall live tournament winnings leaderboard.  Ivey now has $12,836,394 in brick-and-mortar tournament earnings in his career, just ahead of Negreanu’s $12,633,218.