Poker $1 Million Buy-In Event Opens as Player Folds Quad Eights

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Russian businessman Mikhail Smirnov folded four eights, believing he was beaten by a straight flush, as the first $1 million buy-in charity tournament at the World Series of Poker began.

Poker professional Bryan Rast leads 37 players remaining in the tournament, called the Big One for One Drop, out of an opening field of 48. Rast has 10.7 million in chips, followed by Phil Hellmuth with 8.4 million.