$600 Badugi (Re-Entry)
Structure  |  Payouts
Level 18:  15,000/30,000 Limits
Players Remaining:  4 of 48

We missed the first draw, but Ryan Hoenig bet 15,000 from the small blind, and Jacob Babins called from the big blind.

Draw #2:  Hoenig took one card, and Babins took one. Hoenig bet 30,000, and Babins called.

Draw #3:  Hoenig took one card, and Babins stood pat. Hoenig bet 30,000, and Babins called. Hoenig showed for a three-card hand with five high, but Babins turned over to win the pot with a ten-high badugi.

Jacob Babins  –  430,000  (14 BB)
Ryan Hoenig  –  31,000  (1 BB)

The next hand, Hoenig raised from the button to 30,000, Dominick Sarle reraised from the big blind, and Hoenig called all in for 31,000.

Draw #1:  Sarle took two cards, and Hoenig took two.

Draw #2:  Sarle took two cards, and Hoenig took two.

Draw #3:  Sarle stood pat, and Hoenig took two. Sarle showed a king-high badugi with , and Hoenig turned over his first two cards — — before looking at his last two.

Hoenig turned over , and since he now had two diamonds, he only had a three-card hand and was eliminated in fifth place.

Dominick Sarle  –  360,000  (12 BB)
Ryan Hoenig  –  Eliminated in 5th Place ($1,975)

With four players remaining from a field of 48, the average chip stack is around 360,000 (12 Big Bets). The remaining players are guaranteed at least $2,475 each.