Joe Walters raised to 175,000 from UTG, and Steve Federspiel called in the big blind.

Federspiel checked the flop to Walters, who fired 150,000. Federspiel check-raised to 375,000, and Walters called.

The fell on the turn, and Federspiel bet 400,000. Walters tanked for a minute, then called.

On the river, Federspiel checked and Walters checked behind.

“You got it, jack-high.” Federspiel said, and Walters turned over for a missed straight and flush draw, but the winner with ace-high.

Joe Walters - 2.6 million (32.5 bb)
Steve Federspiel - 2 million (25 bb)