In the eighth of a 10-part series on the World Series of Poker, the Paul Phua Poker School recalls how an amateur turned a $39 online satellite into a $2.5m Main Event win
Of all the great moments in the history of the World Series of Poker (WSOP), the most transformative for the future of the game as a whole was surely Chris Moneymaker’s victory in 2003. It was a personification of the American Dream that anyone, regardless of their background, can make it big.
Chris Moneymaker entered a $39 online satellite tournament, which led to a $600 satellite, which won him a seat at the Main Event of the WSOP. That $39 investment was to net Chris Moneymaker a first prize of $2.5 million.
That year was also notable for ESPN expanding the coverage and hole-card cameras being introduced on the final table. This truly was the beginning of the internet-fuelled poker boom, with entries to the WSOP Main Event increasing tenfold from 839 in 2003 to 8,773 in 2006. Poker writers now refer to this as “the Moneymaker Effect”.
Who is Chris Moneymaker?
Can there ever have been a poker champion more aptly named than “Moneymaker”? It sounds like an online poker nickname, but in fact his German ancestors made coins, and chose “Moneymaker” as an Anglicisation of their surname “Nurmacher”.
Born in Atlanta, Georgia, Chris Moneymaker further lived up to his name by studying accounting at university, becoming a comptroller. He was just 27 when he entered the World Series of Poker Main Event. Amazingly, it was his first live poker tournament.
Even so, Chris Moneymaker played well enough on Day One to catch the eye of professional sports handicapper Lou Diamond, who prophetically tipped him as his “dark horse to win the whole tournament”.
Chris Moneymaker knocks out Phil Ivey to make the WSOP final table
Chris Moneymaker did have a stroke of luck to get to the final table. With 10 players left, and holding trip Queens with an Ace kicker, he called Phil Ivey’s all-in bet on the turn only to find himself facing down a full house. A lucky Ace came on the river to change the course of history – sending the amateur to the final table, and denying Phil Ivey his coveted world championship win.
Once there, Chris Moneymaker made up in courage what he lacked in experience. The final table got underway at 2pm, and became heads-up at 12.30am. Moneymaker was pitted against Sammy Farha, and by now had twice his stack. Over the next hour, however, the more experienced pro chipped away at the amateur’s stack until the two were nearly even.
It was then that Chris Moneymaker decided to make his stand.
Both men flopped a flush draw. Moneymaker’s spades were higher, with K7 to Farha’s Q9, but the 9-high flop gave Farha top pair. Both players checked. The turn gave Moneymaker an open-ended straight draw as well as his flush draw, so when Farha now bet out with 300,000, Moneymaker re-raised him to 800,000. Still with top pair and a (lesser) flush draw, Farha called, but he must have felt rattled.
Chris Moneymaker pulls off a historic bluff
The river was a red 3: no possible help to either man. But at this point, sensing weakness, Moneymaker made a huge all-in shove.
Farha tanked. Top pair is not usually a hand you can fold when heads-up. Then again, Moneymaker had bet his tournament life on this hand – would he do that on a bluff? And would an amateur be capable of such daring against a seasoned pro?
Farha eventually folded, leaving his stack fatally crippled at 1.8m to Moneymaker’s 6.6m, and the bluff entered the annals of poker history as one of the most audacious the WSOP has seen.
Who is Chris Moneymaker? Poker player profile
- Born in Atlanta, Georgia in 1975, Chris Moneymaker was an accountant before turning to poker full-time
- Moneymaker turned a $39 online satellite entry into a $2.5m win at the World Series of Poker Main Event in 2003
- His autobiography is entitled Moneymaker: How an Amateur Poker Player Turned $40 into $2.5 Million at the World Series of Poker (2005)
- The online poker boom that followed Chris Moneymaker’s WSOP victory has become known as “the Moneymaker Effect”
Why not go back and read part 7 of our 10 part WSOP series which is about only player to have won three Main Event championships.
Or come back tomorrow for part 9.