Derek Buonano Wins $90,000 in Event #1 of the Seminole Hard Rock Poker Open
The first event of the Seminole Hard Rock Poker Open attracted 3,391 entrants and lasted five days, and when the dust settled on Monday it was 31-year-old Derek Buonano of Palm Beach Gardens, Florida, who won the event to earn $90,000.
Buonano, who served in Iraq as a member of the U.S. Air Force before he became a professional poker player, won the trophy not with cards, but with chips.
The day began with 19 players remaining, and there was a steady pace of eliminations until they reached the official final table of nine players. The most experienced player at the final table was David Diaz, a WSOP bracelet winner who also has two televised WPT Final Tables on his poker resume.
The final table began with more than half a million dollars in prize money still at stake, but the action stalled for nearly two levels as the short stacks were winning every all-in situation.
“Everyone was shallow,” said Buonano. “There were a lot of short stacks doubling up. That’s basically what made me make the decision to think about doing a deal.”
When the nine players took their first final table break, they started discussing a deal to end the tournament right there, dividing up the $500,875 prizepool based on ICM, or Independent Chip Modeling.
ICM is a mathematical formula that professional players use to figure out how much money each player could expect to win in a particular tournament, on average, based on their current chip counts.
The players counted their chip stacks and computed their ICM values, and then began negotiating from there. Chipleader Buonano negotiated an extra $8,300 because he had been holding a large chip lead for a while and was reluctant to stop playing.
The entire deal-making process took about 20 minutes, and when everyone finally agreed to the same terms, the final nine players all received at least $38,787. That’s nearly four times as much as 10th-place finisher Alcides Gomez received ($9,766).
But the biggest piece of the pie went to Buonano, who received $90,000 in prize money and the trophy, which, in typical Seminole Hard Rock style, is shaped like an electric guitar.
For Buonano, this ranks as the biggest score of his career, surpassing the two deep runs he made at the World Poker Tour and the World Series of Poker, where he earned a combined $72,065 for a pair of 12th-place finishes.
“It’s amazing,” said Buonano. “It’s not every day you can get through thirty-four hundred players to actually be there, the one person at the end, which we all strive to be. To actually be that person feels amazing.”
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Here are the official results from the final table of Event #1 ($350 No-Limit Hold’em w/ $500,000 Guarantee):
1st: Derek Buonano – $90,000
2nd: Steven McKoy – $64,001
3rd: Jaime Campos – $58,418
4th: Zack Goodman – $58,323
5th: John Liu – $57,557
6th: David Diaz – $50,047
7th: Jeff Yeh – $42,742
8th: Kevin Ho – $41,000
9th: Daniel Navarrete – $38,787