Level 4 has begun. This marks the last level during which players can use their add-on chips. If they do not use them by the end of the next hour of play, they will automatically be converted into 7,500 chips each.
There will be a one-hour dinner break at the conclusion of this level.
Level: 4
Blinds: 100/200
Ante: 50
Yan Chen raised to 400 from under the gun and Tom Schneider called from the next seat over. Jon Turner called from the cutoff seat and then Tom Dwan called from the small blind. Here's what they all drew.
Dwan - 2
Chen - 1
Schneider - 2
Turner - 1
After the draw, Dwan checked and Chen bet 1,150. Schneider folded and then Turner raised to 3,200. Dwan folded and then Chen tank-called. He held a 
and Turner mucked his hand. Turner dropped to 4,500 with one add-on chip left while Chen moved up to 17,000 with all three add-on chips left.
Chen is well known as a deuce-to-seven specialist and at the beginning of the event some of the players joked with him by saying, "Yan, I heard you have to pay $20,000 to play this event." Chen just won his first bracelet the other day in Event No. 14: $1,500 No-Limit 2-7 Draw Lowball. He beat Mike Wattel and won $92,817. Last year, Chen came in 3rd in the $2,500 2-7 Lowball event for $38,891.
Tom "durrrr" Dwan has used all of his add-ons while building his stack up to 47,000. He was just now over at Barry Greenstein's table reporting to the Bear how many chips he has.
"So you've already proven you can play the game?" cracked Greenstein with a grin. "Yes I have," said Dwan sarcastically. He then added a self-effacing account of how he had gotten particularly lucky in one hand, thereby enabling him to claim most of his profit thus far.
Greenstein appears content with his stack of 34,000 (he's also used his add-ons), not looking as though he has anything in particular to prove at present.
Tommy Hang raised to 500 from middle position, and Phil Ivey reraised to 1,800 from the button. The blinds got out, and Hang called.
Hang took one card, while Ivey stood pat. Both then checked. Ivey turned over 
, and Hang mucked. Ivey has 26,000 (with no add-ons), while Hang has 5,800 (with all three add-ons).
After Jason Mercier reraised Greg Mueller's middle-position raise of 400 to 1,450, Marco Johnson re-reraised all in for 7,475 from the small blind. Mueller folded and Mercier made the call. He drew one after Johnson stood pat.
Johnson showed the 
and Mercier the 
before he looked at what he drew. Needing a nine, six, four or deuce to win, Mercier peeled a and made a slightly worse hand than Johnson.
Johnson doubled to 17,000 with two add-on chips left while Mercier dropped to 15,000 and still has three add-on chips left. Johnson is coming off a 13th-place finish last night in Event No. 15 where he earned $32,439.
We just had the announcement that our field for today's event totals 101 players. Currently 100 of them are still with chips, with only Dario Minieri having hit the rail thus far.
That field creates a total prize pool of $949,400. The top 14 spots will pay, with the player finishing first enjoying a $294,314 payday.
Justin "Boosted J" Smith opened for 400 from the hijack seat, and Shawn Sheikhan called from the button. Both players took two cards. Smith very deliberately pulled 1,100 from his stack and dropped the chips in front of him. Sheikhan immediately called.
Sheikhan showed and Smith mucked. Sheikhan has had a good start today, pushing up to 26,000 while retaining all three of his add-ons. Smith has already cashed in all of his add-ons, and sits with 23,000 at present.
Freddy Deeb drew one on the draw and his opponent stood pat after Deeb had the player all in pre-draw. Deeb couldn't beat his opponent's and dropped to 9,000 chips.
Greg Mueller opened for 400, Jason Mercier called, then Eli Elezra reraised to 2,100. Mueller stepped aside, but Mercier came along.
Mercier took one card while Elezra stood pat. Mercier then pushed all in for 4,600, and Elezra made the call.
Mercier showed . Elezra showed -X-X-X, and Mercier took a nice-sized pot.
"Good for my team!" quipped Daniel Negreanu afterward, alluding to the fact that he has Mercier on his fantasy team for the WSOP.
Mercier has 13,000 at present with all three add-ons. Elezra, meanwhile, is down to 3,500, but also has all three of his add-ons in reserve.