At around 2 pm on Saturday afternoon in Melbourne, Phil Ivey busted in 12th place from the Aussie Millions Main Event. For most people, busting out of a $10,000 buy-in event so close to the final table would be a crushing blow – even with the $100,000 payday that accompanied it.

Phil Ivey ain’t most people.

Ivey basically went straight from his Main Event bustout to a seat in the $250,000 Challenge and promptly went on to outlast the 15 other world class players in the event to earn $2,000,000 – the largest tournament score of his storied career.

“I got pretty deep in the Main, I got close, luckily I got knocked out in time to play this. It worked out,” said Ivey following his win. The cash is Ivey’s first since returning to tournament poker following his self-imposed exile from the game in the wake of the Full Tilt Poker fiasco following Black Friday. “It’s nice to be playing poker again. I took some time off, just came back to Macau, started playing and this is one of my first tournaments back so it’s nice to get back to winning.”

The eight-time WSOP bracelet winner eliminated three of the last four players, including his final opponent Patrik Antonius, to capture the title. Antonius earned $1,200,000 for finishing second while Gus Hansen pocketed $800,000 for third. The man out on the bubble was Daniel Negreanu.

The field included three of the now famous “Macau businessmen”; Paul Phua, Richard Yong and Nick Wong, none of whom cashed in the event. Erik Seidel, the defending champion in the event, busted out in 12th.

The tournament, which used 40 minute levels, took a little longer than 11 hours to complete.

Aussie Millions $250,000 Challenge Payouts

1. Phil Ivey – AU$2,000,000
2. Patrik Antonius – AU$1,200,000
3. Gus Hansen – AU$800,000

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