The $40,000 buy-in No Limit Hold’em event commemorating the 40th running of the World Series of Poker (WSOP) features an all-star field that includes Tom “durrrr” Dwan, Full Tilt Poker pro Phil Ivey, and “Texas Dolly” Doyle Brunson. A total of 201 players took to the felts, making for a $1.8 million first place prize.

It took less than two levels for Dwan to be ousted from one of the richest poker tournaments ever held. The youngster who dominated the fifth season of GSN’s “High Stakes Poker” fell victim to David “The Dragon” Pham. After a flop of 8-5-3, Dwan checked and Pham led out for 8,200. Dwan made the call to see the turn fall a deuce, putting potential straight possibilities on the board as well as diamond and club flush draws. Dwan check-raised Pham all-in and Pham promptly called, flipping up pocket kings. Dwan turned over pocket sixes, needing a four or six to stave off elimination. However, the river came the king of diamonds, ending Dwan’s run through the $40,000 affair.

Others eliminated during the first portion of play included WSOP November Nine member Scott Montgomery, who hit the skids after an hour and a half of play. Seated at the same table as Dwan, Montgomery called the all-in of Scott Seiver for his tournament life on a board of A-J-2 with two spades. Seiver flipped up A-Q for top pair, while Montgomery turned over 8-7 of spades for a flush draw. The turn came the four of diamonds and the river was the nine of diamonds, sending last year’s Main Event final table participant to the rails. He finished in fifth in the 2008 feature tournament, earning $3.1 million.

Bodog Poker pro Justin “ZeeJustin” Bonomo raced to the top of the leader board during the first two levels, doubling up at the expense of Per Magnus Ummer. On a board of 10-9-2-6-3, Ummer led out for 50,000 and Bonomo shoved for 13,000 more. Ummer made the call only to see Bonomo reveal pocket twos for a flopped set. Ummer mucked, sending Bonomo’s chip stack to nearly 250,000. Also making waves early on was Phil Laak, who doubled up with pocket eights against James Calderaro’s pocket kings after flopping a set.

The field of 201 runners included a bevy of online poker players, including WSOP bracelet winner Corwin “mig.com” Mackey, World Poker Tour (WPT) Season VII Borgata Poker Open champion Vivek “Psyduck” Rajkumar, Justin “Boosted J” Smith, WSOP bracelet holder Steve “MrSmokey1” Billirakis, WPT Season VI Player of the Year Jonathan “Fiery Justice” Little, and WPT Season VII Bellagio Cup champion Mike “SirWatts” Watson. Also present were Steve “gboro780” Gross, the top player on the PocketFives.com Online Poker Rankings, and Luke “IWEARGOGGLES” Staudenmaier, a former winner of the Full Tilt Poker $750,000 Guaranteed.

The festivities got underway at Noon Pacific Time with WSOP Commissioner Jeffrey Pollack, Tournament Director Jack Effel, and 2008 Main Event Champion Peter Eastgate appearing in front of the packed Amazon Room at the Rio. Eastgate, who won $9.1 million last November, gave the ceremonial “Shuffle up and deal” command. At the first break, the unofficial leaders, according to coverage on the website of the World Series of Poker, were:

1. Phil Laak – 280,000
1. Sandor Demjan – 280,000
3. Tony G – 255,000
4. Barry Schwartz – 252,000
5. Scott Seiver – 250,000
6. Justin Bonomo – 242,000
7. David Chiu – 240,000
8. Michael DeMichele – 230,000
9. Evan McNiff – 215,000
10. Kyle Wilson – 208,000

Ivey and Brunson will have their work cut out for them this afternoon as play approaches dinner. Both were in the bottom half of the chip counts. Still missing in action is 11-time WSOP bracelet holder Phil Hellmuth, who has left many wondering how he will make his grand entrance. In one of her first poker tournaments since falling to comedian Joan Rivers in the finals of “Celebrity Apprentice” Season 2, Annie Duke turned up late and sits among the low stacks.

Also taking place in the Amazon Room is the second of two days in the $500 buy-in Casino Employees No Limit Hold’em event, which will be the first bracelet awarded at this year’s WSOP. As of 6:00pm ET on Thursday, the tournament had 57 players remaining after 20 were ousted in the first 40 minutes of play.

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