Event 5: $1,500 Pot Limit Omaha - Day 1

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Event #5 will be the first PLO event of the 2009 World Series of Poker. The game of Omaha has gained in popularity a significant amount over the past few years, as evident by the field of over 900 players that entered the Hi/Lo event (won again by 2008 champion, Thang Luu.)

Today there are currently over 700 players signed up to play the event, however, that number will grow as registration will be open until the end of the second level.

In an interesting twist, there is an ��add on�� feature to this event. Players still only have to pony up $1,500 with no additional money for extra chips, however, only 1/3 of the initial 4,500 is issued up front. In addition players receive two red ��add on�� chips that they may exchange for 1,500 chips at any time (provided they are not in a hand). Here are the official rules of this structure straight from worldseriesofpoker.com:

"Players begin with $1,500 in Tournament Chips. Players may receive (2) additional Add-ons for $1,500 in tournament chips each, anytime during the first three levels. Any player that has not taken their add-ons by the end of the third level will automatically receive them." This way if someone goes broke with their initial starting stack, they can toss a red chip to the dealer, and continue playing.

Action is scheduled to begin at 12:00 noon local time. Stay tuned!

Tags: Omaha