John Phan might have thought he could pull one over on Billy Baxter, but you don't win seven bracelets in lowball events without having learned a thing or two along the way. After Baxter raised the button, Phan called from the small blind and drew two. Baxter took three. Seeing that, Phan led out with a bet after the draw, which Baxter called.
On the second draw, Phan drew two to Baxter's one. Phan decided to check, then called after Baxter fired a bet. Both players stood pat on the third draw. Phan checked again, and Baxter fired again. Phan thought it over, then folded.
Robert Mizrachi, currently seated at Brasilia #4, proposed a bet to anyone at Brasilia #2 that the winner of the tournament will come from the players currently seated at Brasilia #4 -- Mizrachi, Billy Baxter, John Phan, Steve Sung or Shun Uchida. The player taking the other side of the bet would have as his horses Ben Ponzio, Mike Wattel, Gioi Luong, Richard Chase and David Sklansky. Mizrachi couldn't get any takers, even after he dropped his asking price for the bet from $20,000 to $1,000.
"What's the matter, don't have any confidence in yourselves?" Mizrachi shouted from across the room.
Mike Wattel raised, and David Sklansky called on the button. Wattel took one card, and Sklansky took two. Wattel bet, and Sklansky called.
Both took one card on the second draw. This time Wattel checked, Sklansky bet, and Wattel called. Wattel took one on the third draw, and Sklansky stood pat. Both checked.
Sklansky showed an 8-6-4-3-2, and Wattel mucked. Sklansky is up to 86,000, and Wattel has slipped to 61,000.
In a hand just before the break, Ben Ponzio raised, Mike Wattel reraised from the small blind, and Ponzio called.
Wattel took one card, and Ponzio two. Wattel bet, and Ponzio called. The second round followed the same pattern: Wattel took one, Ponzio two, and Ponzio called Wattel's bet.
On the third draw, Wattel took one card and Ponzio stood pat. Both checked. Ponzio showed a 10-7-5-4-2, and Wattel mucks.
Wattel has now slipped to 16,000. When we begin the next level, he'll have not even two big bets.
After having to relinquish both his small and big blinds, Wattel pushed his last 7,000 in and Ben Ponzio called. Ponzio took three on the first draw, and Wattel one. Then Ponzio took two to Wattel's one. Finally, Ponzio took one and Wattel stood pat.
Wattel showed 8-7-5-4-2. "Straight to the six," said Ponzio as he mucked. Wattel is still alive, but will need to gamble again here to remain so.