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Seed, who was the 1996 World Series of Poker's Main Event champion, won the all-star tournament that was played off and on over a week's time and included a 16-hour final day, played during the July 4th holiday weekend at the Rio.
Seed, who has won four World Series of Poker individual event championship bracelets, captured the non-bracelet event after beating Howard "the Professor" Lederer, in heads-up play.
Lederer, a two-time bracelet winner, battled Seed and third-place finisher Johnny Chan for nearly 90 minutes before losing on the final hand of the night to Seed's pair of aces.
Lederer collected $250,000 for second while Chan, a 10-time bracelet winner, took home $100,000 for third.
"I felt like this was a team thing; me and everyone who voted for me," Seed said. "There were a lot of great players in this event. It was fun to compete. It was like a reunion of the old school players."
Seed's last gold bracelet win came in 2003. However, Seed has since won the NBC Heads-Up poker championship at Caesars Palace, and finished high in other major events.
Others players who cashed included: 2005 World Series of Poker Champion Joe Hachem (4th for $25,000), Barry Greenstein (5th for $25,000), Daniel Negreanu (6th for $25,000), Jennifer Harman (7th for $25,000), Annie Duke (8th for $25,000), and T.J. Cloutier (9th for $25,000).
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