Jeff Haney is taking a look at the second annual high-stakes, mano-a-mano poker tournament coming up this weekend at Caesars Palace

By Jeff Haney

Thursday, March 2, 2006 | 7:20 a.m.

National Heads-Up Poker Championship

Site: Caesars Palace poker room

Prize pool: $1.5 million

Number of players: 64, by invitation Schedule

Friday night: Blind draw/pairings

Saturday: 10 a.m. first-round competition begins

Sunday: 11 a.m. middle rounds begin

Monday: 11 a.m. late rounds/championship round begin

Perhaps the city's most celebrated old-time poker game took place over five months in 1949, when high-stakes gambler Nicholas "Nick the Greek" Dandalos squared off against Texas sharpie Johnny Moss downtown in a match arranged by casino owner Benny Binion.

The two men played mostly heads-up, according to Las Vegas lore, taking breaks only to sleep, until Moss ground the Greek down and won a reported $2 million in the marathon game.

Upon losing the final pot, the Greek uttered what would become poker's most famous last words: "Mr. Moss, I have to let you go."

Then, just last month at Wynn Las Vegas, another Texas sharpie - Dallas billionaire entrepreneur Andy Beal - took on a consortium of professional players, including Todd Brunson and Phil Ivey, among others, in a series of heads-up matches. It was billed as the world's richest poker game.

Each side enjoyed wins and sustained losses of millions of dollars in a single day's worth of play, until last week, when Beal finally said, "Mr. Ivey, I have to let you go." Or words to that effect, anyway.

This weekend, one-on-one poker will make another big splash on the Strip when 64 of the world's toughest players compete in the $1.5 million National Heads-Up Poker Championship tournament at Caesars Palace.

The second annual heads-up championship, which begins with the pairings selection Friday night and concludes with Monday's final rounds, carries a first-place prize of $500,000. Tournament coverage will air on NBC (KVBC Channel 3) in six episodes spanning 10 hours starting April 16 and running through May 21.

Phil Hellmuth will try to defend the title he won in last year's tournament, which was at the Golden Nugget. Hellmuth outlasted runner-up Chris "Jesus" Ferguson. An audience of 6 million watched the final match on NBC on May 22.

"NBC Sports was looking for something unique," NBC programming Vice President Jon Miller said. "Ring-game (traditional) poker is popular on a variety of networks, but (heads-up) is a unique format ... It makes for an exciting on-site event as well as compelling TV."

The field of 64 in the heads-up championship is designed much like college basketball's national tournament - although NCAA officials would no doubt blanch at being compared to a (shudder!) gambling event - right down to a selection committee deciding who gets invited and who stays on the rail.

"This year we could have easily had 128 legitimate, top players," said actor/poker player Gabe Kaplan, who will serve as a commentator at the tournament. "It's really difficult for the selection committee to choose (only) 64."

Elite fields such as this are especially popular among poker pros not only because of the potential for TV exposure, but also because they don't have to get past thousands of entrants to reach the late rounds - as is the case in many big tournaments, Kaplan said.

Ivey, fresh off his big game against Beal, was installed as a slight favorite to win the tournament by oddsmakers at the online site fulltiltpoker.com. (There is no sanctioned betting on the outcome.)

Other big names scheduled to compete include Hellmuth, Ferguson, John Juanda, Barry Greenstein, Daniel Negreanu, Doyle Brunson, Todd Brunson, T.J. Cloutier, Erik Lindgren, Scotty Nguyen and Erik Seidel.

Long shots include Hollywood stars James Woods and Jennifer Tilly.

Unlike the NCAA tournament, players are not seeded. Instead, a random draw will determine the bracket Friday at Caesars.

"The problem with seeding is that it's tough enough to pick a field," tournament consultant Eric Drache said. "There's really no objective way to do it. Once they've made the final 64, it's fair to have them all ranked the same - even though they all think they're the best."

Last year's final skirmish featured a bit of drama when Ferguson pushed all-in with a pair of deuces, and Hellmuth, with a big chip lead, called with 6-4 to try to finish off his opponent. Another six came on the flop to put Hellmuth way ahead in the hand and fourth street was a blank. But the river, or final community card, gave Ferguson a miracle: another deuce, one of only two cards left in the deck that would keep him alive.

The comeback attempt was cut short, however, when Hellmuth's pocket queens held up against his opponent's king-6, and Ferguson was forced to say, "Mr. Hellmuth, I have to let you go." Or words to that effect, anyway.

Jeff Haney can be reached at 259-4041 or at [email protected].