Phil Galfond founded his own site with the goal of keeping the online poker dream alive. Over the years, a big part of that dream has been epic high stakes battles for all to witness. With the Galfond Challenge, a series of high stakes heads up matches between Phil and his various challengers, Phil is bringing back the glory days of railing high stakes games.
The Galfond Challenge entails the real-life experience of a three-time WSOP bracelet winner as he plays high-stakes online PLO cash games. His very first challenge was against Venividi1993. Galfond managed to stay afloat and fight back from being behind by over €900,000 to secure a €1,472.08 profit, while he also won a €100,000 side bet.
After his first challenge with Venividi1993, the next opponent for Galfond is Bill Perkins, who owns the popular poker streaming channel The Thirst Lounge.
This time, things become more interesting as partypoker is hosting this particular showdown in the high-stakes cash game series, which started on Tuesday, April 14.
Bill Perkins, born in 1969 in New Jersey, is a successful hedge fund manager who embarked on a new venture as a poker player. His biggest career win came just last year at the Triton Million for Charity event in London, finishing 6th place and winning a hefty £2,200,000.
Against Perkins, the first player to notch up $400,000 wins the challenge. The buy-in is $20,000 and the blinds are $100/$200. If neither player has reached that target after 50,000 hands, then the leader at that stage will be confirmed as the winner.
There will also be a side bet of $1,000,000 posted by Galfond and $250,000 posted by Perkins. This means if Galfond wins, he takes an extra $250,000. If Perkins wins, he is paid out an extra $1,000,000.
Perkins said, "All my life I've been attacking challenging situations and this one seems to be the most formidable in quite some time. Not only does Phil have strategic knowledge, he has heart and mental fortitude. I look forward to playing the role of underdog."
Galfond said, "This challenge is different to my others because of the $400,000 finish line. A lot of people are expecting me to win this one, but they shouldn't underestimate Bill or the swings of PLO. Anything can happen."
The first session has just ended early morning of Thursday, April 16, with Bill Perkins in the lead.
Fans can follow the action as it unfolds by visiting the challenge in the partypoker client.
Every session of The Galfond Challenge presented by Run It Once Poker will be live-streamed on https://www.twitch.tv/RunItOncePoker
Note: For Galfond Challenge matches only, rake will be 1% up to a cap of €1.