Event #2: $50,000 Poker Players Championship

Two World Poker Tour titles, more than $7 million in career tournament earnings, and Michael Mizrachi finally has the one thing he has craved since he picked up two cards-- a World Series of Poker bracelet. Get out a Sharpie and cross the Grinder's name off the list of "greatest players never to win a bracelet," as he'll not only take home that beautiful piece of gold, but will have his name engraved on the Chip Reese Memorial Trophy alongside Freddy Deeb, Scotty Nguyen, David Bach, and the late, great Reese himself.

"The Grinder" truly lived up to his name, making a triumphant comeback from a more than 3-1 chip defect during heads-up play. He remained focused, aggressive and relentless as he chipped away at Vladimir Schmelev, who during the latter stages of heads-up play finally betrayed his cool exterior as his frustration mounted.

"I knew if I played slow it would frustrate him," Mizrachi said of his heads-up strategy during his post-game interview with ESPN's Norman Chad.

On his way to the title, Mizrachi had to overcome a final table of legendary pros and dangerous wild cards, including his older brother Robert, who won his first bracelet three years ago.

"This was definitely worth the wait. It's one of the most prestigious events you can possibly win…especially with my brother in there. I put his chips to good use," Mizrachi said with a smile.

Beginning a new tradition at the $50,000 Players' Championship, last year's winner David Bach passed the torch to Mizrachi. As he offered his congratulations, Bach pointed out that after being toted around the country for several years, the Chip Reese Memorial Trophy had acquired a small chip on the side "which I think is a perfect tribute to Chip Reese."

Congratulations to Michael Mizrachi on an extraordinary tournament and his first WSOP bracelet win. The $1,559,046 is nothing to sneeze at either. Well done, sir.

For all of us at PokerNews, thanks for tuning in. From the Rio in Las Vegas, good night and good luck.

Schmelev gives Mizrachi a walk in the big blind.

Michael Mizrachi moves all in from the button and Vladimir Schmelev steps out of the way. Mizrachi shows pocket kings!

This time Michael Mizrachi raises it up to 225,000 from the button and Vladimir Schmelev makes the call.

The flop lands     and both players check. The turn is the  . Again, it's checked through. The river is the   and Schmelev bets out 250,000. Mizrachi takes his time before raising it up big...to two million.

Schmelev took a moment and declared "call". Mizrachi opens    for running trips! The TD counts down Schmelev's stack and he's left with just small change - it looks like 600,000.

This one is very close to done and done!

Michael Mizrachi limps again and Vladimir Schmelev checks his option in the big blind.

The flop arrives    . Schmelev checks and then folds to Mizrachi's bet of 100,000.

Michael Mizrachi continues his limping approach and this time Vladimir Schmelev lets him see a cheap flop as he taps the table.

The flop arrives     and Schmelev bets out 200,000. Mizrachi makes the call. The turn card is the   and Schmelev checks. Mizrachi bets 200,000 and Schmelev beats him into the pot.

The river is the  . Schmelev checks over to Mizrachi who thinks for a moment but checks behind. It's a decision he regrets as Schmelev reveals    for a busted flush draw, and the best hand!

Michael Mizrachi limps the button and Vladimir Schmelev instantly moves all in. After that previous hand the steam is rising from Schmelev. Mizrachi folds and Schmelev stays alive!

Michael Mizrachi raises the button to 250,000 before Vladimir Schmelev declares himself all in from the big blind. The Russian is clearly frustrated with the flow of the game, and the crowd's antics, but Mizrachi decides this is not the one and lets his hand go.

Michael Mizrachi limps the button and Vladimir Schmelev taps the table in the big blind.

The flop is    . Schmelev checks and a bet of 100,000 from Mizrachi is enough to take it.

Mizrachi - 14 million

Schmelev - 3.4 million