Matt Lefkowitz's Bad Beat

Matt Lefkowitz has been making a good living playing poker for more than 10 years. In fact, he is one of a mere handful of players who can claim never to have had another job, at least since he stopped working as a cook at a small restaurant on Shelter Island (near Long Island), or as a film reviewer for various arts magazines in the San Francisco Bay area – way back in 1992. Matt is going for the cycle at the World Series of Poker, where he has fourth-, third-, and second-place finishes, and now needs a victory – and a coveted bracelet – to complete it.

In fact, I was there during the 1997 WSOP when Matt took one of the most heartbreaking bad beats of his life. Actually, I was in the hand for a moment, and I remember it well. Matt raised with K-K from first position, whereupon I called with 5-5 from third position and Marsha Waggoner reraised with the Q Q from fifth position. Matt then moved all in for about $45,000 total, I folded, and Marsha called him.

Matt was seated directly to the left of the dealer and saw the doorcard as the dealer was turning the flop; it was the K! Matt now says, "Back then I was messing around with a small bankroll of a couple thousand dollars, and I had won a satellite to play in my first World Series. When I saw the king, I immediately thought, 'Great, I'm in the money and freerolling for a million dollars!'"

For Matt, that was the peak of his expectations that year: "I didn't really give myself a chance, as I was just a limit hold'em player. However, I was aggressive, running a few people over, and staying focused. Then, all of sudden, I noticed that there were only five tables left. Maybe I did have a chance. First I'd make the money, and then, who knows. That doorcard king had me believing that perhaps I could do something great."

The rest of the flop was a bit more unsettling, as it came down K 10 4. Marsha had flopped a flush draw, and I remember asking myself at the time, "Would I have flopped a flush draw with my fives?" The 5 came on the turn and I said out loud, "Wow, I would have hit trips!"

Matt now says, "Then, the 2 came on the river and cost me the pot, most of my chips (he had $4,000 left), and a shot at making the money! There were 29 players left, 27 were to be paid, and I eventually finished 29th. Ironically, in 2004 I also finished 29th, but I was paid $80,000!

"Marsha looked at me, shrugged apologetically, and said, 'That's poker, mate.' She was trying to be nice, but it didn't matter what she said, I was devastated. Usually, you can storm out of there after losing a huge pot, and head up to bed and remain in the fetal position for a week, but in this case, I was forced to focus on running up my last $4,000 in chips, while the ESPN cameras hung perilously close, waiting for the kill."

Matt is guilty of the same thing that I am: We care too much! One week in the fetal position is what Matt ended up with, not the $25,000 for 27th place, or the $1 million first-place prize. In 1997, I went on to finish 24th, and I too spent one week in the fetal position. Oh well, that's poker – just don't tell Matt and me that!

Chat or play poker with Phil at UltimateBet.com. To learn more about him or his books and DVDs, go to PhilHellmuth.com; for Phil's cellphone game, check out HellmuthHoldem.com.