With a couple limpers in the pot, Phil Ivey raised to 1.2k from the big blind.  An opponent in Seat 1 reraised to 4.2k.  Ivey made the call and the flop came  KKQ, Ivey checked and his opponent bet 6.5k.  Ivey moved in for about 11k.  His opponent called and flipped up  QQ.  Ivey laughed and proceeded to muck his hand before the turn and river.

Phil Ivey just strolled into the room and took his seat up on the stage.  4 hours late sir, not bad!

Phil Hellmuth just showed up in the Fontana Lounge to take his seat in a yellow and black racing suit.  Good to see you Phil!

However, there's still no sign of Phil Ivey.

There's a short delay as there was a very late mad rush at the cage to buy in at the very last moment.  They include: Phil Ivey, Phil Hellmuth, Patrik Antonius and David Williams.

The blinds have been increased to 100-200.

How would you play if you were in his seat?

This photo of Howard Lederer with Scotty Nguyen to his left was taken on Day 2 of Event 39 ($50,000 HORSE) at the 2007 WSOP.

Or his?

This photo of Phil Ivey with Erick Lindgren on his right was taken on the same Day of Event 39.

Like the vast majority of the poker-playing public these days, I prefer big-bet games to limit. My best game, like yours, is no-limit hold ‘em. When I’m playing well—when my table selection is good and my reads are on—chips come my way in great piles. I’ll sense what an opponent feels is an uncallable bet or convince some maniacal fish to fire at the pot yet again after hitting my set.

As much as I enjoy no-limit, I have to admit that it’s really not a game that involves a whole lot of subtlety. Many of the game’s best players come to the table with a single tool—a sledgehammer. They bash and pound their opponents, forcing strings of bad folds and the occasional disastrous call. Watch David Williams or John Pham play a no-limit tournament some time. It’s impressive, but it ain’t pretty.

Today at WSOP we get a reprieve from the relentless cries of “all-in.” There will be no daring and crazy bluffs. There will be no heroic calls.

That’s because today the $50k HORSE event begins. The best in the field will distinguish themselves by finding spots for thinnest of value bets in limit hold ‘em, or by maneuvering for the free card on Fifth Street in seven-stud. They’ll recognize when their draw to a six is a 53 percent favorite over a made 8 in Razz and put in the appropriate raise. They’ll win by continually exploiting the smallest advantages.

What is the most interesting thing at the WSOP this year, poker or golf? It's not only the players who, like you see Phil Ivey doing here, are watching golf on the monitors in the tournament area at the Rio, but the people on the rail as well.

This photo was taken when we reached two tables in Event 26 ($5,000 HORSE) at the 2007 WSOP.

Event #26 $5k HORSE just finished up as Ralph Schwartz defeated Bill Gazes heads-up.  Schwartz won the bracelet and $275,683.  The final table payouts were:

1. Ralph Schwartz  $275,683
2. Bill Gazes  $153,408
3. Yuebin Guo  $99,264
4. Phil Ivey  $65,424
5. Rob Mizrachi  $49,632
6. Alexander Jung  $37,901
7. Thom Schultz  $28,877
8. Jeff Campbell  $20,755

The $3,000 Seven-Card Stud World Hi-Lo Championship enticed what seems like half the Big Game to drive past the Bellagio and pay a visit to the Rio instead. Included among the 236 entrants are Ted Forrest, Chip Reese, and Phil Ivey as well as a bunch of old guys I don’t recognize. Despite my ignorance, I have a feeling some of the best seven-card stud hi-lo players in the world are inside the Amazon Room this evening, and, sadly, I don’t even know who they are.

I would really like to watch the final table of the $1,500 No-Limit Hold’em Shootout. I had a feeling Erick Lindgren was going to go deep in a tournament, and I’ve been following his progress throughout this one. Add Daniel Negreanu to the mix and you’ve got yourself a spectacle well worth watching. Except I can’t. It’s in the sequestered tent, the secret room where the Wizard of Oz resides and life is perpetually one hour ahead of reality—or is reality one hour behind?