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World Series of Poker reaches 9 finalists in Vegas

By WTOP Staff

OSKAR GARCIA
Associated Press

Nine poker players from six countries passed the biggest bubble in cards early Tuesday, making the World Series of Poker main event final table and earning a shot at $10 million in November.

Mark Newhouse had been here before, finishing ninth last year. And he carried the finalists across poker’s grandest threshold with the session’s last hand, into a four-month break to prepare to compete for millions.

Newhouse eliminated series veteran Luis Velador in 10th place, calling Velador’s all-in raise behind two bettors for the last of Velador’s chips. Velador held pocket fours, Newhouse turned over pocket fives, and the community cards kept Newhouse ahead for the knockout.

“This isn’t realistic to me,” said William Pappaconstantinou, a 29-year-old dealer at a charity poker room in New Hampshire. The player known as “Billy Pappas” from his days as a nine-time world foosball champion sat seventh in chips after lasting through what he said was the tournament’s toughest session of cards.

“I’m just a poor kid dealer trying to live a dream,” he said.

He can’t call himself poor anymore — the nine finalists will be paid more than $730,000 each later Tuesday, then play for the rest of their cash when the final table starts Nov. 10 back at the Rio All-Suites Hotel & Casino.

The grind of more than 13 hours including breaks was the latest in a no-limit Texas Hold ’em marathon unfolding over thousands of hands. The nine finalists topped a field through 68 1/2 hours of cards split over seven sessions.

Three tables with 27 total players began play at noon Monday, with 11 bounced by dinnertime. Eddy Sabat was eliminated just after the break in 16th place, winning nearly $348,000, while Thomas Sarra Jr. and Oscar Kemps were out soon after, winning nearly $442,000 each.

Sabat and Kemps lost the last of their chips to 31-year-old Jorryt van Hoof of the Netherlands, who propelled to a lead that would carry him to the final table with the most chips in play. Chips don’t have any monetary value in the tournament; each player must lose all of his or her chips to be eliminated, and win them all for the title and gold bracelet.

The other finalists include 23-year-old Felix Stephensen of London, 22-year-old Andoni Larrabe of Spain, 30-year-old Dan Sindelar of Las Vegas, William Tonking, 27, of Flemington, New Jersey, 27-year-old Martin Jacobson of Stockholm, and 31-year-old Bruno Politano of Ceara, Brazil.

The tournament started July 5, attracting 6,683 players over three starting days including some of poker’s biggest names, including Phil Ivey, Daniel Negreanu, Phil Hellmuth and Johnny Chan. Only the top 10 percent of finishers saw any profit on their $10,000 buy-in.

Newhouse, 29, made his second final table at the main event in as many years — a slim prospect before the tournament began given fields of more than 6,000 contenders each year. He won more than $773,000 last year. He is the first player to make consecutive main event final tables since the World Series of Poker began delaying its final table in 2008, and the first overall since Dan Harrington did it in 2003 and 2004.

Series organizers changed the payout structure to guarantee $10 million for first place, the largest main event prize since Jamie Gold won $12 million for topping a field of 8,773 players.

“We all have a shot,” Pappaconstantinou said.

___

Oskar Garcia can be reached on Twitter at http://twitter.com/oskargarcia

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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