Chance Kornuth has officially conceded in his high stakes cash game poker showdown against three-time World Series of Poker bracelet winner Phil Galfond. The two played around 25,400 hands heads-up $ 100- $ 200 pot-limit Omaha before Kornuth, himself a two-time bracelet winner, decided to throw in the towel and cash out the $ 250,000 side bet he considered against Galfonds for $ 1 million Which of the two players would be ahead after an agreed sum of 35,000 hands? At the time of the game, Kornuth had reportedly lost $ 726,500 to Galfond.
I’ve decided to take up the challenge. Congratulations to PhilGalfond to another #GalfondChallenge Victory. It was an incredibly fun fight even though I lost. Take a few days with friends and family and share more about my experiences over the coming weeks ChipLDR
– Chance Kornuth (@ChancesCards) January 23, 2021
The two players were just about to complete three-quarters of their 35,000 hands when Kornuth made the decision to call them at the beginning of the 50th session of the game. Kornuth had held the lead for most of the first 37 sessions, building his advantage to as much as $ 344,500 in profit before Galfond launched a late surge that turned the tables. In the three sessions that followed its low of $ 344,500 on November 13, Galfond recorded three straight wins to eliminate and nearly offset losses of $ 313,000.
The two even floated around for the remaining sessions in November, but in December Galfond continued the winning streak that ultimately proved crucial. He booked a profit of $ 88,000 on December 8th to regain the lead in the match, then won 9 of the next 13 sessions to increase his total profit to $ 680,500. Galfond won $ 126,000 in the penultimate session of the Challenge on Jan. 22.
The 50th session has been postponed due to technical difficulties with the live stream coverage of the game. By the time the issues were resolved, Kornuth had reportedly lost a couple of all-ins, trapping $ 46,000 that day. Just a few minutes after the live stream began showing the two, Kornuth sat out. Farah Galfond, Phil’s wife, made her debut as a commentator. She and her fellow commentator Nick Steiner were killing time reading questions from the chat during recess when Galfond informed them that the match was officially over. Both competitors then joined the live stream via video call after the shocking announcement that Kornuth had conceded.
“It was an uphill battle and things weren’t really going down the road for me,” said Kornuth. “Phil played great.”
Kornuth went on to share that he sold action for the match based on a grand total of $ 1 million. With the $ 250,000 side bet that he posted, it meant that he had set a loss limit of $ 750,000.
“So I knew my number was coming in, and when I lost two all-ins I thought I had better check the numbers and they were there,” Kornuth said of the decision to end the game.
Galfond took to Twitter shortly after the game ended for a statement on the result and thanked all the commentators for spending so much time analyzing the action on the live streams. Among those who spent a lot of time covering the game were the card player’s columnist and the two-time WSOP Bracelet winner Nathan Gamble. You can check out his Twitch channel to view archived actions from the game.
I think it was “only” 4 months? Because of these things, I no longer have a sense of time.
– Phil Galfond (@PhilGalfond) January 23, 2021
This is the third completed Galfond Challenge match in which Galfond has been ahead in all three games so far. He started the challenge in a dramatic way with a € 900,000 comeback to beat ‘VeniVidi1993’ in the final session of the game. Galfonds ‘second win put him in the lead in his battle against Ioannis’ ActionFreak ‘Kontonatsios’.
With this third game now over, Galfonds is the only active game against entrepreneur and frequent high-stakes poker player Bill Perkins. So far this match has only played two sessions with a pot-limit of $ 100- $ 200 Omaha, with Galfond up $ 90,144.05 for the time being. The two have not contested a meeting since April 2020. After a total of seven games have been announced, Galfond has at least four more opponents to contend with.
Below is an overview of all seven challenges, along with details on stakes and side bets:
|Bill Perkins & Thirst Lounge Streamers||$ 100- $ 200||PLO||$ 800,000: $ 200,000||50,000||TBD|
|Brandon Adams||€ 100 – € 200||PLO||€ 150,000: € 100,000||40 hours of live poker||TBD|
|Chance Kornuth||$ 100- $ 200||PLO||$ 1 million: $ 250,000||35,000||Galfond Victory (profit of $ 726,500)|
|Dan Cates |||€ 100 – € 200||PLO||TBD||7,500||TBD|
|Action freak||€ 150- € 300||PLO||€ 150,000: € 150,000||15,000||Galfond Victory (profit of € 114,765.66)|
|VeniVidi 1993||€ 100 – € 200||PLO||€ 200,000: € 100,000||25,000||Galfond Victory (profit of € 1,472.08)|
|Luke Schwartz||€ 1,000 – € 2,000||8 game||TBD||TBD||TBD|