Daniel Cates: Durrrr Challenge OFFICIALLY on hold

Posted by Steve Ruddock on Aug 31, 2011 Posted in High Stakes Poker News | No Comments »

This week Daniel Cates made it official that the Durrrr Challenge is now officially on hold –although virtually everyone who has followed the match between Daniel Cates and Tom Dwan already knew this to be the case. Cates made the announcement via his Twitter account, stating: “Regarding the Durrrr Challenge @Tom_Dwan and I have decided to wait until we know the fate of Full Tilt Poker and then decide,”

Cates, who has a commanding lead after playing nearly 20,000 of the 50,000 hands of the match, was reportedly being played x amount of money for every month that no hands were played towards the match by Dwan, but with Full Tilt Poker officially shut-down this was obviously not going to continue.

Many people were griping about the slow pace of the match, and calling out Dwan for dragging his feet –since he has the most to lose—but both Cates and Dwan have repeatedly stated that no one is ducking the other, and it’s just a matter of logistics that is keeping the match from being completed.

Cates leads Dwan by $1.2 million, and if he should end the match victorious is scheduled to be paid an additional $1.5 million by Dwan –per the terms of the match, which state: If Cates is up any amount after 50,000 hands Dwan is on the hook for $1.5 million; if Dwan is up any amount after 50,000 hands Cates is on the hook for $500k. Reportedly, Phil Ivey is holding the $2 million in escrow for the two players.

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