Rio Poker Galfond Challenge

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Rio Poker Galfond Challenge Results
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Rio Poker Galfond Challenge Game

Summary:

Phil Galfond once turned a single $100 deposit into millions on a poker site. But to prove he was the best, he issued a challenge and dug a hole that would require a miracle to overcome. Phil Galfond has found three more competitors to participate in his “Galfond Challenge“. The Run It Once (RIO) founder would have had four matches to look forward to but one player backed out of the challenge citing difficulties with preparation. Phil Galfond is a three-time World Series of Poker winner and owner of the online poker site, Run It Once (RIO). In 2019, Galfond announced “The Galfond Challenge, “a series of high-stakes heads-up Pot-Limit Omaha (PLO) games to be played on RIO against some of the best players in the world. High-stakes poker professional Phil Galfond has issued a challenge to the poker world with the Galfond Challenge. The founder and owner of Run It Once poker will be taking on at least six opponents.

In this episode, Phil Galfond talks about The Phil Galfond Challenge, his series of challenges playing high-stakes PLO against some of the world’s best. He shares how the challenge came about, why he created it, and what he has been doing to prepare. Elliot and Phil discuss the mindset shifts that Phil has undergone, and he opens up about the hidden fear that has kept him from studying.

Listen in to hear Phil share what makes Run It Once different– and learn why he won’t need a vacation after these challenges are completed.

Time Stamped Show Notes:

[01:30] – The Phil Galfond Challenge

02:25 – Elliot’s course and discussions inspired some of Phil’s big moves and made the challenge possible
03:15 – The challenge idea came about because his video views were going down; he still has more guidance and wants to teach people
04:05 – He challenged any other training site coach to a match; 50,000 hands with 3:1 odds
04:20 – He’s playing on Run It Once since he’s outside of the U.S.; it’s a big promotion for Run It Once poker
04:50 – They opened it up to not just coaches to make sure they had a match
05:05 – He’s excited to play high-stakes poker for a length of time; he’ll brush up on his game and get better

[06:00] – On opponents and game structures

06:05 – As of the recording, he has matches set up with some of the best in the world and other matches still need details to be discussed
08:20 – He’s planning on playing for four months in Vancouver, but he’ll likely have to play beyond that
09:00 – With the Thirst Lounge 10, Phil won’t know who he’s playing; he won’t enjoy that because he won’t be able to study tells and leaks

[10:10] – The streaming rules

10:15 – He’ll stream cards up with anyone else who’ll do the same; challenges will have commentators and PLO analysts on Run It Once’s Twitch

[11:20] – What’s different about Run It Once

11:35 – He didn’t like what he was seeing on other poker sites, so he was inspired to be a player supporting the longevity of online poker
12:10 – The three challenges facing online poker: Bots, regulation, and the loss of the casual player
13:10 – When players lose more slowly, there are more of them playing at a time; if they lose quickly, they leave the pool
14:35 – Phil believes it’s possible to have people winning and people losing that still enjoy the game
15:40 – The table alias system anonymizes you; HUDs aren’t allowed but they have dynamic avatars
16:20 – The stats are easy to understand for all players; they also have a “splashed pot” and legends
18:05 – It has been tough to make changes because they don’t know how the community will react; outreach and being in touch with players has been important

[19:15] – On the role of mindset in Phil’s challenges for him and his opponents

19:20 – He doesn’t think most people will be impacted by the fact that they’ll be streamed on Twitch; the schedule will be the toughest part
19:40 – There are financial penalties if players in the challenge take time off, so he won’t be able to break when he normally would
20:20 – His biggest challenge will be dealing with the negative swings and errors without taking breaks

[20:40] – On others not wanting to play long sessions

21:00 – He only has one person, Chance, who wants to play the long sessions (as of this recording)

[21:10] – Something Phil picked up from the mindset course that’ll help him in the challenge

21:15 – He’s moving past his fear of studying; he was always successful at poker without having to try too hard and now he’s learning that he needs to study
22:20 – He’s realizing that he doesn’t want to find out that he’s not as smart as he thinks he is; he finds it easier now to work through worst and best-case scenarios
22:35 – He’s starting to build up his ability to study

[23:15] – More information on the challenges

23:30 – They’ll be broadcasted on twitch.tv/runitoncepoker
23:45 – They play 5x/week with Sundays and Wednesdays off; they have a page where you can see the matches
24:50 – He hopes that the challenges will help Run It Once grow and get more attention

[25:20] – Phil’s post-challenge treat

25:40 – He sees this challenge as being the treat; he’s getting a vacation from full-time work on the site

3 Key Points

Challenges are learning opportunities.
Set the ego aside and study so you can get even better!
If you love what you do, doing it feels like vacation!

Contact/Resources

A-Game Poker Masterclass – Website
Stream the Phil Galfond Challenge here

***If you’ve enjoyed this episode of The Mindset Advantage podcast, please subscribe and leave us a review over on iTunes to help spread the word about the show. Thanks!***

It took almost four months after the end of the second match of the Galfond Challenge to start the third one. Phil is now battling against Chance Kornuth, and after 1,600 hands played, Galfond has a slight advantage of $13,400.

Why is Chance Kornuth a unique contender?

Initially, Phil and Chance agreed to start the match on September 16, but it was postponed for a week. Apparently, both grinders took this challenge seriously. Here is some spice to the story:

Both Galfond and Kornuth are founders of poker schools — Run it Once (RIO) and Chip Leader Coaching (CLC), respectively. Therefore, this is not only a game between two famous American players but also a battle of schools.

Kornuth added a 'Galfond Challenge' page on his website to update his followers about the results and updated his Twitter profile with the line 'Galfond Challenge UnterTaker.' We can conclude that playing against Galfond is a major thing for him.

Phil Galfond vs. Chance Kornuth: first two days results

The players have agreed on the following terms:

Stake: $100/$200
Length: 35,000 hands
Side bet: €1,000,000 : €250,000 (Galfond/Kornuth)
Site: WSOP.com (both participants are now in Las Vegas)

Rio Poker Galfond Challenge Results

On the first day, they played precisely 750 hands in more than 5 hours. The highlights can be seen in this video:

As a result, Kornuth won 33 thousand dollars. The biggest pot had $75k in the middle (timeline 29:40). In a 4-bet pot, Phil bet all the way with a low suited board and only a pair of tens. In the river, Galfond bet the pot, and after a few moments, Chance called with pocket aces and won the hand.

Day 2: Highlights

On the second day, Phil recovered the losses and ended with a profit of more than $10k, although in one of the first hands, he lost about $24,000. Galfond won the biggest pot (timeline 15:33) for $53k, with two pairs beating a KK. 900 hands were played during the session.

Such results suggest that this match will be as exciting as the VeniVidi1993 one when Phil snatched a victory for only 8BB.

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