Martin Jacobson prepares for 2015 WSOP Main Event

2015 is upon us and plenty of interesting tournaments are scheduled for the upcoming months, with the highlight of this year being once again the World Series of poker Main Event. Or poker professionals are preparing for this competition and among those who have high expectations are those who made the final table in the previous edition. Martin Jacobson is the one who emerge victorious in 2014 and he’s entitled to be optimistic about what the new year will bring.Martin Jacobson prepares for 2015 WSOP Main Event

Obviously, the chances to win the trophy once again are stacked against him and even making a deep run could be a bridge too far. Meanwhile, he has plenty of money at his disposal after winning $10 million in Las Vegas last November, when he emerge victorious. The November 9 list feature the couple of professionals and plenty of omissions players, but it was Martin who want it all despite being less experienced than most of his counterparts.

Few players credited him with a chance at winning the tournament, but he managed to beat the odds and won an eight digit amount. He took his chances and played aggressive football in the final table, causing the elimination of two players, including one from United States. Americans were the most numerous at the final act of the competition, but the podium was dominated by Europeans, with all three positions being occupied by them.

The heads up was played between the Swedish poker player who eventually emerged victorious and Felix Stephenson from Norway. Jorryt van Hoof from the Netherlands was eliminated in the third-place and the complete list can be seen below:

1 Martin Jacobson Sweden $10,000,000
2 Felix Stephensen Norway $5,145,968
3 Jorryt van Hoof Netherlands $3,806,402
4 William Tonking United States $2,848,833
5 Billy Pappas United States $2,143,174
6 Andoni Larrabe Spain $1,622,080
7 Dan Sindelar United States $1,235,862
8 Bruno Politano Brazil $947,077
9 Mark Newhouse United States $730,725

There will be plenty more tournaments this year before the WSOP starts all over again in late May, therefore players will have their fair chances to consolidate their bankrolls. Over the Internet, the action is every bit as intense and poker rooms run special promotions aimed both and amateur players and professionals.

Alexander Lakhov wins PartyPoker WPT Merit North Cyprus Classic

The PartyPoker WPT Merit North Cyprus Classic is the highlight of the month for many European poker players, who don’t have the resources to participate in the major Asian series. The tournament is hosted in a luxurious casino in Cyprus and is sponsored by the prestigious poker room, which provides players with plenty of reasons to pay the buy-in.

In 2014, there were hundreds of players who booked a seat at the main event, which is the most anticipated tournament of all those scheduled for early October. The game was played in shorthanded format, which explains why the final table only featured six players and Nicolas Chouity was the chip leader at the time. He had a significant advantage over the pack, with Alexander Lakhov being the only player within striking distance.onliepokerbuddy

Much to his credit, Alexander managed to stay close to the leader and when opportunity presented itself is overtook Nicolas. Very little changed in the first two hours of the final table, with three players from Russia competing for the trophy, one of them was eliminated fairly quickly. Nicolas Chouity sent two players to the rail, but when three handed play began, he realized that it was time to take more chances, to consolidate his position.

The player from Lebanon was unlucky to get involved in some big hands and lost all of them, on two occasions starting as favorite. The way was paved for the remaining two Russians but contrary to what those present expected, they didn’t agree on splitting the pot according to their stacks. Instead, they preferred to play until the final hand was dealt and this proved to be a winning move for Alexander.

The heads up was more of a roller coaster, with each player being in command for a brief period of time, until Alexander Lakhov got a hand with tremendous potential. He played aggressively and committed his entire stack, forcing the runner-up to do the same and he emerged victorious. For more details about how the tournament unfolded and the most important moments of the final days of main event, head on to:

This is the final placement of the six most successful players:

1 Alexander Lakhov Russia $310,000
2 Dmitry Gromov Russia $215,000
3 Nicolas Chouity Lebanon $140,000
4 Toby Lewis United Kingdom $102,820
5 Ori Miller Israel $77,000
6 Igor Devkin Russia $62,000

Danny Suied takes down Seminole Hard Rock Poker Open

Seminole Hard Rock Poker Open is one of the competitions whose popularity is rising at an accelerated pace, due to the fact that many American players choose to participate. In the absence of a real alternative regarding online gambling, they have no choice but to sit down at the tables of live tournaments and this one is one of the most exciting. A brilliant combination of reasonable buy ins and an impressive field of players partially explains the success of the Seminole Hard Rock Poker Open.pokerbuddy

The most recent edition brought together a total of 2888 players and each of them paid $350 to participate in the opening event. The Deep Stack No Limit Hold’em competition was a huge hit with many players from neighboring states traveling to Florida, hoping to win a slice of the $866,000 price point. There were a couple of poker professionals who found it worthwhile to spend a couple of days competing here and this only raised the stakes for all participants.

Danny Suied from Hallandale Florida and David Smith from New York quickly emerged as favorites to win the trophy, after greatly increasing the size of their stacks. They dominated the tables in the early hours and kept playing aggressive poker, further enhancing their dominance over the pack. By the time the final table was reached, they were in an excellent position of playing the heads up and the occasional bumps in the road didn’t slow them down.

Things have changed in the last hour of play, with two more players coming strong from behind and by the time only four were left, things could’ve gone either way. In order to prevent luck from deciding the winner, the remaining players decided to split the money according to the size of their stacks. Danny Suied got the biggest share because he was the chip leader and he played the final hands without pressure, which proved to be the right thing to do as he ended up winning the tournament.

If you want to know exactly how the money was split among the nine finalists, check this out:

1 Danny Suied Hallandale, FL $110,349
2 David Smith New York, NY $94,574
3 Reinaldo Troconis Coral Gables, FL $81,752
4 Brett Bader Boca Raton, FL $78,919
5 Raminder Singh Delray Beach, FL $44,983
6 Glen Cressman Boca Raton, FL $35,831
7 Steele Sutter Palm Beach Gardens, FL $26,765
8 Michael Tufaro Fort Myers, FL $18,131
9 Richard Russ Hallandale Beach, FL $12,951

PokerStars reveals key dates for 2014 WCOOP series

Those who were wondering when the 2014 World Championship of Online Poker will begin and how long the series will last, have all the answers below. PokerStars has revealed the complete schedule for the upcoming tournament and let’s just say that there are plenty of events to keep them busy for an entire month. Several poker professionals are expected to participate, so the competition will be intense, but it is definitely worth getting involved:pokerbuddy

Sunday, September 7

Event 01 – 08:00: $109 NL Hold’em [WCOOP Kickoff]
Event 02 – 11:00: $215 NL Hold’em [6-Max, Sunday Warm-Up SE]
Event 03 – 14:30: $215 NL Hold’em [Sunday Million SE]

Monday, September 8

Event 04 – 11:00: $320 PL Omaha [6-Max]
Event 05 – 14:00: $320 NL Hold’em [6-Max, Shootout]
Event 06 – 17:00: $215+R NL Hold’em [Turbo]

Tuesday, September 9

Event 07 – 11:00: $215 NL Draw
Event 08 – 14:00: $215 NL Omaha H/L [6-Max]
Event 09 – 17:00: $1,050 NL Hold’em [Super Tuesday SE]

Wednesday, September 10

Event 10 – 08:00: $215 PL Omaha [Knockout]
Event 11 – 11:00: $320 NL Hold’em [Ante Up]
Event 12 – 14:00: $215 NL Hold’em [Heads-Up]

Thursday, September 11

Event 13 – 06:00: $215 NL Hold’em [Progressive SKO]
Event 14 – 11:00: $530 NL Hold’em [6-Max, Knockout]
Event 15 – 14:00: $320 Stud H/L

Friday, September 12

Event 16 – 11:00: $215 PL Omaha [6-Max, Progressive SKO]
Event 17 – 14:00: $215 NL Single Draw 2-7 [Re-Entry]
Event 18 – 17:00: $320 NL Hold’em [Turbo, Zoom]

Saturday, September 13

Event 19 – 11:00: $109 NL Hold’em
Event 20 – 13:00: $ $320 NL Hold’em [Progressive SKO]
Event 21 – 15:00: $320 PL Omaha H/L [6-Max]

Sunday, September 14

Event 22 – 11:00: $215 NL Hold’em [Sunday Warm-Up SE]
Event 23 – 12:30: $10,300 NL Hold’em [8-Max, Re-Entry, High Roller]
Event 24 – 14:30: $700 NL Hold’em

Monday, September 15

Event 25 – 11:00: $215 NL Hold’em [4-Max]
Event 26 – 14:00: $320 Stud
Event 27 – 17:00: $215 PL Omaha [Turbo, 1R1A]

Tuesday, September 16

Event 28 – 11:00: $320 Mixed Hold’em
Event 29 – 14:00: $320 FL Badugi
Event 30 – 17:00: $1,050 NL Hold’em [Super Tuesday SE]

Wednesday, September 17

Event 31 – 08:00: $215 PL 5-Card Omaha H/L [6-Max, 2R1A]
Event 32 – 11:00: $700 NL Hold’em [Progressive SKO]
Event 33 – 14:00: $320 8-Game

Thursday, September 18

Event 34 – 06:00: $320 NL Hold’em [6-Max, Re-Entry]
Event 35 – 11:00: $320+R PL Omaha [6-Max]
Event 36 – 14:00: $320 Triple Draw 2-7

Friday, September 19

Event 37 – 11:00: $215+R NL Hold’em
Event 38 – 14:00: $530 FL Omaha H/L
Event 39 – 17:00: $215 NL Hold’em [6-Max, 10-Min Levels]

Saturday, September 20

Event 40 – 11:00: $1,050 NL Hold’em [6-Max]
Event 41 – 13:00: $530 NL Hold’em [Progressive SKO]
Event 42 – 15:00: $320 HORSE

Sunday, September 21

Event 43 – 11:00: $215 NL Hold’em [Sunday Warm-Up SE]
Event 44 – 12:30: $10,300 NLHE [High-Roller Heads-Up]
Event 45 – 14:30: $2,100 NL Hold’em

Monday, September 22

Event 46 – 11:00: $320 PL 5-Card Omaha [6-Max, 1R1A]
Event 47 – 14:00: $320 NL Hold’em [Re-Entry]
Event 48 – 17:00: $215 NL Hold’em [Turbo, Knockout]

Tuesday, September 23

Event 49 – 11:00: $320 Mixed NL Hold’em / PL Omaha
Event 50 – 14:00: $530 Razz
Event 51 – 17:00: $1,050 NL Hold’em [Super Tuesday SE]

Wednesday, September 24

Event 52 – 06:00: $215 NL Hold’em [1R1A]
Event 53 – 11:00: $215 NL Hold’em [Re-Entry, Big Antes]
Event 54 – 14:00: $2,100 PL Omaha [6-Max, Re-Entry]

Thursday, September 25

Event 55 – 06:00: $320 NL Hold’em [6-Max]
Event 56 – 11:00: $530+R NL Hold’em
Event 57 – 14:00: $215 FL Hold’em [6-Max]

Friday, September 26

Event 58 – 06:00: $530 NL Hold’em [1R1A]
Event 59 – 11:00: $215 NL Omaha H/L
Event 60 – 14:00: $1,050 FL Hold’em [6-Max]

Saturday, September 27

Event 61 – 11:00: $700 PL Omaha [Heads-Up]
Event 62 – 13:00: $700 NL Hold’em [6-Max, Progressive SKO]
Event 63 – 15:00: $2,100 HORSE

Sunday, September 28

Event 60 – 11:00: $215 NL Hold’em [8-Max]
Event 61 – 12:30: $10,300 8-Game [High-Roller, Re-Entry]
Event 62 – 14:30: $5,200 NL Hold’em Main Event

Poker returns to Europe this August

For almost 2 months, Las Vegas was the cornerstone of land-based poker, with the World Series of Poker being the highlight of June and July. Pretty much all those who have the skills, resources and the will to put them to the test bought in for one of the side events of the WSOP or paid the buy-in for the main event. Now that the action subsided and the name of the nine finalists was revealed, players need to look elsewhere for excitement and opportunity to win money.onlinepokerbud

There are a couple of tournaments still scheduled for August that are unfolding in the United States, with the WPT Legends of Poker being by far the most exciting one. Bicycle Club in Bell Gardens, California will be the gracious host for this event and the main tournament will set players back $3700. It will start on August 23 and will conclude one week later, so there is just enough time to raise the funds. has the details for another tournament that is to take place in the US, with a far more reasonable buy-in. One of the first major tournaments in Europa is the GUKPT Reading which is the perfect warm-up for those who are anxiously waiting for the European Poker Tour. The main event is the £550 No-Limit Hold’em, which is not prohibitive even for amateur players.

Action is every bit as intense in East Asia, where the Macau Poker Cup is scheduled for August, with the highlight of this series being the HKD$80,000 High Roller tournament. It will attract poker professionals from all the corners of the world, but the most participants are expected for the HKD$11,000 Main Event which starts on August 8.

On exactly the same date players traveling to Europe will get to choose between the UK & Ireland Poker Tour London which is hosted by the Hippodrome Casino and the Grosvenor UK Poker Tour. Both these tournaments are probably going to attract plenty of British players, as they will find it both convenient and entertaining to participate in events of such magnitude. The buy-ins are reasonable at £275, so once again the guaranteed prize pool is expected to be exceeded as a result of more players attending the event.

The European poker season officially begins with the Barcelona tournament scheduled for August 16, the first stop on the European Poker Tour. This event has a special signification, as it is the 100th tournament hosted by the EPT and will last 10 days, while making plenty of players rich. GUKPT Leeds tournament is scheduled for early September, with the £550 No-Limit Hold’em being the highlight of the series.

Dominik Nitsche earns his second WSOP bracelet in 2014

Dominik Nitsche was among the poker professionals who came to Las Vegas for the World Series of Poker with high expectations. His desire was to win a bracelet and it goes without saying that he properly celebrated the victory when it occurred in the first events of the series. Much to his credit, he kept the dream alive and bought in for more tournaments, which resulted in another victory for the German.Dominik Nitsche

It was Event #21 – $1k NLHE that brought him the coveted victory, which is the second this year and third overall, not to mention that he also took home $335,000. The competition was intense throughout the tournament, but no poker professional made the final table which greatly simplified his mission. Dominic is among the best online poker players and the fact that he found a way to replicate his success at live tables suggest that he made a successful transition.

  1. Dominik Nitsche – $335,659
  2. Dave D’Alesandro – $208,931
  3. Bob Bounahra – $145,229
  4. Zachary Gruneberg – $104,594
  5. Thayer Rasmussen – $76,443
  6. Jeff Gross – $56,549
  7. Eric Milas – $42,382
  8. Billy Horan – $32,168
  9. David Burt – $24,702
  10. Lance Harris – $19,398

The beauty of participating in the World Series of Poker is that you don’t get to compete exclusively at Texas hold ’em tables, but can participate in different tournaments. HORSE events are by far the most demanding, because those who sit down at these tables need to be equally skilled at playing different types of poker. Event #22 – $10k HORSE Championship is the highlight of the series and it was Christopher Wallace who made the most of this rare opportunity to showcase his unique skills.

The final table took longer than expected and the remaining three players brought equal stacks in play, therefore it took a few hours for a winner to be decided. Wallace took an early lead and grew it one step at a time, until Richard Sklar was eliminated and the heads-up battle ensued. He outshined Randy Ohel in the final phase of the tournament, to win in excess of half a million dollars and the coveted bracelet.

  1. Christopher Wallace – $507,614
  2. Randy Ohel – $313,715
  3. Richard Sklar – $206,499
  4. Richard Ashby – $150,625
  5. Max Pescatori – $112,066
  6. Lee Goldman – $84,844
  7. Bill Chen – $65,273
  8. Calvin Anderson – $50,966
  9. Bruno Fitoussi – $40,363

Elsewhere, Doug Polk made a deep run in the Event 23 – $1k NLHE Turbo and he realized that this was the best opportunity he’s got so far at the World Series of Poker. When most of his opponents shifted into less aggressive gear, he kept pushing them into a corner, until only two of them were left. He proved to be more than a match for Andy Philachack and won his jewelry, while the next nine players had to settle for the amounts listed below:

  1. Doug Polk – $251,969
  2. Andy Philachack – $155,756
  3. Jonathan Hanner – $102,503
  4. Chad Cox – $73,894
  5. Liam Alcock – $54,088
  6. Tony Gregg – $40,168
  7. Gianluca Cedolia – $30,252
  8. Dash Dudley – $23,093
  9. Andrew Mackenzie – $17,857
  10. Amanda Baker – $14,039

Dan Colman emerges victorious at €100,000 Super High Roller

Back in the day, there were only a few highroller tournaments that interested players could attend and they were dissociated from prominent series. Basically highrollers got together on rare occasions to compete in exclusive competitions hosted by certain casinos. Things have changed a lot over the last couple of years and now pretty much any respectable poker series has such an event.

The last competition of this sort was the €100,000 Super High Roller, an integrated part of the EPT Monte Carlo Grand Final. Paying a six digit amount just to be a part of a major tournament is not something that regular players can afford, but this doesn’t mean that there was a shortage of poker pros. A total of 50 players sat down at five tables on day one and 12 of them had to rebuy at least once after being eliminated prematurely.pokerbuddy

Some of them have good reasons to congratulate themselves for perseverance, others wish they hadn’t fire another bullet. Daniel Cates was one of those who ran into a lot of trouble early in this tournament, but eventually found a way to turn the ship around and finished second to claim almost €1.3 million. He is widely regarded as a remarkable poker player who won a lot of money over the Internet, so it comes as no surprise that he was feared at the final table.

Another player that gave opponents shivers down their spines was Ole Schemion the leader of the GPI top 300 and one of the constant favorites to win the Player of the Year award. Unfortunately for him he was eliminated rather quickly and was followed by Paul Phua and Rono Lo to the rail. Action slowed down to a crawl when four players were left in the race, with Richard Yong eventually succumbing to pressure and finishing in the fourth place.

The last three players had the option of playing on or reach an agreement, but the terms were not acceptable for all parties involved. It took a while before Kurganov was eliminated and the remaining two players were far more cooperative and so a deal was made. The two Daniels found it more practical to split the money according to their stacks and Daniel Colman got lucky in the last couple of hands.

In all fairness, Daniel Cates seemed far less concerned about what would happen in the last few hands and was willing to take more chances. What really matters is that both players won a seven digit amount, with Colman being the big winner with €1.5 million credited to his bank account. The other finalists didn’t leave empty-handed quite the contrary as they took these juicy payouts:

  1. Daniel Colman – €1,539,300
  2. Daniel Cates – €1,283,700
  3. Igor Kurganov – €1,128,300
  4. Richard Yong – €637,600
  5. Rono Lo – €493,340
  6. Paul Phua – €385,000
  7. Ole Schemion – €307,000
  8. Olivier Busquets – €241,000

Keven Stammen makes deep run in online tournament at PokerStars

Every Sunday, PokerStars players get to choose between two major poker tournaments, but on Tuesdays, they only have one event to focus on. The PokerStars Super Tuesday gained a lot of traction recently and one week ago, 711 players participated, which represents a new record in the event’s history. Only 81 off the ones who bought in finished in the money and it was Marty “TheLipoFund” Mathis from Mexico that want the biggest price.Keven Stammen

As it happens in major tournaments hosted by online companies, the ones who made the final table contemplate the possibility of a deal. These arrangements usually happen in the final stage of the tournament, with three or four players remaining in the game. This time, the Mexican player and Milana Jones from Russia were so dominant, that they had no reason to strike a deal with three players during the game. Instead, they waited for heads-up began and then suggested a settlement.

There was plenty of money to go around and with the Russian player having the deeper stack, he had all the reasons to accept the ICM numbers. This proved to be a smart idea, because at the end of the day he finished second but collected more money than the winner. There was no shortage of poker professionals but despite their best efforts they couldn’t contain the unbridled enthusiasm and luck of amateurs.

Keven Stammen was among these professionals who took a jab at the first prize, but in the end he had to settle for a final table placement. It was still far better than what his counterpart accomplished and his performance translate into a five digit number. For the player who leads the GPI player of the year list ahead of Canadian poker professional Daniel Negreanu, the money itself is not impressive. What matters most for poker pros is to prove that they are competitive in online tournaments as well as live ones.

There were some other players who did a fine job at the final table, but Agentul05 and Xibummmmm were the ones who can consider themselves unlucky. They finished third and fourth and collected a combined amount of $130,000, while the other players scooped the amounts listed below:

  1. Marty “TheLipoFund” Mathis – $114,378
  2. Milana Jones – $116,696
  3. Xibummmmm – $71,811
  4. Agentul05 – $54,036
  5. Shyam “G’s zee” Srinivasan – $37,967
  6. FastCarsss – $30,217
  7. Takapillu7 – $23,107
  8. Nicolas “niccc” Chouity – $15,997
  9. Keven “Stammdogg” Stammen – $10,665

Viktor Blom crushes Phil Galfond at nosebleed limits

Two of the best online poker players, met again over the week at Full Tilt Poker playing two different games at nosebleed limits. In the past, Phil Galfond got the best of Viktor Blom, but the Swede is quickly closing the gap and in their last contest he won more than $600,000. The amount is staggering, but unfortunately for Phil, things went from bad to worse when he decided to move to other tables in an attempt to offset his losses.

Viktor Blom

He joined Dan Cates as the only two players to lose more than $1 million this week, a forgettable record that virtually wiped out all the profits they made in 2014. Cates didn’t lose a dime to Blom, but the Swedish poker player extracted maximum value from those hands played against Galfond. They chose to compete at 2-7 triple draw and 8-Game tables and on both occasions, Viktor emerge victorious.

The two players competed for a total of 12 hours, with the first four being less interesting, as action picked up speed at the middle of the session. They were playing at $300/$600 pot-limit Omaha tables, so it comes as no surprise that things quickly got out of hand. Blom’s overly aggressive style of poker caught Phil off-guard and in less than two hours, he stripped him of more than $500,000. Galfond did his best to limit the losses but he never found the strength to claw his way back in the game.

After a while, they moved to $2,000/$4,000 2-7 triple draw tables but Phil was unable to put his vast experience and incontestable abilities to good use. The session ended virtually undecided, so he had no choice but to accept the $600,000 lost. At the end of the day he had $1 million less in his account and it is most unlikely for Phil to finish the month about the profitability line.

“FakeSky” and Gus Hansen were two other players who lost significant amounts this week, while poker players who used the nickname “GSinishtaj” and “thecortster” won $60,000 each. The other big winner of the day was Sebastien Ruthenberg who won $145,000, his biggest score in one day this year.

Yevgeniy Timoshenko wins AU$2 million at the $100,000 Challenge

Yevgeniy TimoshenkoImmediately after the Aussie Millions Main Event came to an end and Ami Barer was crowned winner, the AU$100,000 challenge began. Despite the prohibitive buy-in, more than 60 players found it worthwhile to participate and some of them even bought in several times. Isaac and Haxton and Daniel Negreanu are two worthy examples, with both of them spending a total of AU$500,000.

They were under tremendous pressure of making a deep run just to offset these losses, but only the Canadian achieved his goal. Haxton was eliminated early in the day and didn’t even make the final table, which was comprised of seven players. The chip leader didn’t have a significant advantage over the pack, which ensured the fact that the final stage of the competition will be balanced and take longer than usual.

Martin Jacobson and David Steicke were eliminated in a relatively quick succession and won a combined amount of AU$800,000. Since neither of them suffered an untimely elimination and had no reason to rebuy, the Aussie Millions $100,000 Challenge was a highly lucrative event. Daniel Negreanu didn’t succumb to pressure and despite the fact that he was compelled to finish fifth or higher, he played like he was aiming the first place.

He failed to make three handed play but he still finished above the profitability line, with a payout of AU$550,000. He was somewhat unlikely to be eliminated in the fifth place, but overall his performance at the AU$100,000 challenge was a success. Two of the four remaining players were struggling to stay alive, hoping that their closest rival will be eliminated ahead of them.

Patrick Antonius and Erik Seidel had a snowflake’s chance in hell of making the heads-up, with a dwindling stack and facing a lot of adversity. Seidel extracted the maximum from his unfortunate situation and outlasted Antonius, to collect AU$860,000, 160k more than his rival. They had too few chips in front of them to make a difference, so despite the fact that Yevgeniy Timoshenko caused the elimination of both of them, he only started with a narrow advantage over Mike McDonald.

Those who expected the heads up to end swiftly were surprised by the fighting spirit of both competitors, who suffer ample downswings but recovered each time. Both of them had 75% of the chips at one time, but in the end it was Yevgeniy Timoshenko won the decisive hand and the Aussie Millions $100,000 Challenge. He collected AU$2 million, almost double than MacDonald:

  1. Yevgeniy      Timoshenko – AU$2,000,000
  2. Mike      McDonald – AU$1,076,000
  3. Erik      Seidel – AU$860,000
  4. Patrik      Antonius – AU$700,000
  5. Daniel      Negreanu – AU$550,000
  6. David      Steicke – AU$450,000
  7. Martin Jacobson – AU$350,000