Nobody's Fool: Jeff Madsen

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As you have probably heard, Gavin Smith bought himself out of his responsibilities in the prop bet against Joe Sebok and Jeff Madsen. Gavin wore his jester costume for about 20 minutes so ESPN could record it and he got to experience some humiliation, but then he played the rest of the day in his street clothes, surviving the day with 50,000 in chips. (Against the odds, all three players in the prop bet survived their respective Day Ones.)

Today, Jeff Madsen returns for his second day of play with 80,000 in chips -- and no jester costume. Madsen fulfilled his side of the bet on day one, and Sebok let him off the hook for the rest of the Main Event, saying he didn't have to wear the costume. But Sebok added, "If I were you, I'd still wear it -- except for the annoying hat. Show everyone what a stand-up guy you are, and how you stick to your bets no matter what."

Madsen chose comfort over Sebok's persuasive words, and since Sebok gave him a free pass after Day One, Madsen is still a stand-up guy. Now he can focus on his play, and they can get to work on a much more important bet -- a last-longer in the 2007 WSOP Main Event.

Tags: Gavin Smith Jeff Madsen Joe Sebok