Ivey, who is thought to have a substantial proposition bet based on him winning a bracelet at this year's series, looked set to cash in on that bet as he was flying high at the top of the chip counts with just three players remaining but it all started to go wrong when he was quartered by Scotty Nguyen.
In the hand Ivey opened from the small blind and Nguyen made the call and defended his big blind. The dealer fanned out the As-Kh-10s flop, Ivey bet and Nguyen called. The turn brought the 4c into play and now both players checked, leading them to the 8h turn. Ivey fired another bet into Nguyen and he took at least 10 seconds to make the call and announce that he had won three-quarters of the pot with his Jc-10c-5h-2d to Ivey's 7s-5c-4h-2c.
From that point onwards Ivey's stack size, although always small, fluctuated massively and at one point he was down to a solitary big bet. Then at around 11:00 UK time the news broke that Ivey's bracelet quest was over - for now. Ivey got the last of his chips into the middle with Kd-Qc-8h-6h on a Qh-Jc-8d flop and was up against the Kc-Ks-10d-2c of Joe Cassidy. The 5c on the turn kept Ivey in front but the Jd river counterfeited Ivey's two pair and he was eliminated from the tournament.
This left Cassidy with a substantial 3,000,000 to 845,000 chip lead over "The Prince of Poker" Nguyen but we will have to wait until later today to see who wins Event #24 because the tournament was paused shortly after Ivey's demise. Nguyen wanted to finish the tournament tomorrow (tonight in the UK time zone) whilst Cassidy was more than happy to continue playing to a conclusion. But because the pair could not come to an agreement the tournament was paused, much to the delight of Nguyen, and will recommence at 14:00 Las Vegas time (22:00 UK time) and will continue until the champion is crowned.