WPT Foxwoods World Poker Finals Kicks Off Thursday

Season 8 of the World Poker Tour (WPT) makes its next stop in Mashantucket, Connecticut on Thursday as the World Poker Finals kicks off at the at Foxwoods Resort Casino. The $10,000 buy-in No Limit Hold’em event will attract many of the tournament players around the world and its prize pool has eclipsed $5 million in past years.

Day 1 will get underway at Noon with players receiving 30,000 chips and blind levels running 90 minutes. The event concludes on Tuesday, November 10th, when the final six players take their seats and play until a champion is crowned.

Last year, poker pro Jonathan “FieryJustice” Little bested a field of 412 players to win the World Poker Finals title. Little, the Season 6 WPT Player of the Year, defeated Jonathan Jaffe heads up when his A-Q held up against Jaffe’s A-10, earning him $1.1 million and his second WPT title. Also appearing at the final table were David “The Dragon” Pham (fourth place for $240,000) and Mike Matusow (sixth place for $124,000).

Other former winners of the WPT World Poker Finals include Mike Vela (2007), Nenad Medic (2006), Nick Schulman (2005), Tuan Le (2004), Hoyt Corkins (2003), and Howard Lederer (2002).

The World Poker Finals has featured a series of preliminary events at Foxwoods since October 19th. Players were offered a wide selection of games on the tournament schedule, including No Limit Hold’em, Seven Card Stud, Omaha Eight or Better, HOSE, Pot Limit Omaha, and Limit Hold’em. Two of the top female pros in the world have generated the most buzz during the series thus far, as Vanessa Selbst took down the $1,500 No Limit Hold’em Event #7 for $74,000 and Kathy Liebert won the $2,500 No Limit Hold’em Event #14 for $74,000. Selbst also took third in Event #14 for $28,000, putting her earnings over the two-week series above the six-figure mark.

World Poker Tour Enterprises (WPTE), a publicly traded company on the NASDAQ Stock Exchange that controls the tour, has been in the news lately, as offers were being made to purchase the company. WPTE announced last week that its shareholders approved a purchase by Party Gaming subsidiary Peerless Media. Under the proposal from Peerless Media, WPTE shareholders will receive $12.3 million plus a percentage of future gaming revenues. The sale specifies that WPTE officials will receive at least $3 million over three years from the aforementioned gaming revenues. The money from the purchase will not be refunded to shareholders and will instead be used to invest in a non-poker related business venture.

Mandalay Entertainment made a last-minute bid of $36.5 million to purchase WPTE, submitting an offer to purchase the company’s television library, trademarks, and other portions of the tournament series. However, WPTE shareholders met last Friday in Los Angeles and instead approved the sale to Peerless Media.

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Poker lingo:

TELL - Any personal mannerisms that reveal the quality of one's hand. E.g., constantly looking at one's hole cards is often a tell of a poor hand. (Some players, knowing this, will at times check their hole cards when they have a great hand and don't need to look.)
FLOP - [1] In Hold'em, the first three community cards, dealt simultaneously. [2] To deal a flop, or to make a hand on a flop. "I flopped trips".
STAND OFF - To call a raise. "Opener raises, I stand off".
STACKED [DECK] - A deck that has been arranged to give one player a huge advantage. Also: RIGGED.
STUCK - Down a nontrivial amount of money, as in "he's stuck $800".
FIXED LIMIT - A betting structure where the amount of each bet is a specific fixed quantity. Usually specified as A-B, where A is the amount to bet in the first few betting rounds and B (larger than A) is the amount bet in the later rounds. Related terms: FLAT LIMIT, NO LIMIT, POT LIMIT, SPREAD LIMIT.

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