Day 1 of this super high-roller event saw 18 players cough up the quarter-million dollar buy-in with four players firing a second $250k bullet.
By day's end just seven players were left, all of whom will return tomorrow to fight for one of the four spots in the money.
Prizes range from $2 million for first down to $500k for fourth.
Commanding a substantial lead heading into that playdown is German Tobias Reinkemeier, the only player to break the one-million mark today.
With over $4.4 million in earnings, much of which came from high-roller events, Reinkemeier is second on Germany's all-time tournament money list.
Joining Reinkemeier at the final table are two other players who have won millions in big buy-in events.
Brit Sam Trickett famously finished runner-up to Antonio Esfandiari in the world's first $1 million buy-in tournament, pocketing over $10 million.
Poker legend Erik Seidel, meanwhile, has over $17 million in live earnings and won this event in 2011 for $2.4 million.
Erik Seidel won this event in 2011.
Here are the chip counts for the final seven players in the 2013 Aussie Millions $250k Challenge.
- Tobias Reinkemeier - 1,237,000
- Igor Kurganov - 854,000
- Fabian Quoss - 764,000
- Richard Yong - 580,000
- Sam Trickett - 494,000
- Winfred Yu - 387,000
- Erik Seidel – 184,000
Two Bullets, Two Misses for Robl, Hansen, Bloom and Phua
Four players decided to take advantage of the re-entry feature in this event, but none of them were able to survive the day even with the help of a second stack.
Andrew Robl, Gus Hansen, Tony Bloom and Paul Phua all spent $500k on this event and walked away empty-handed.
Robl, who won the $100k buy-in event at the Aussie Millions just a few days ago for $1 million, got unlucky in this event in a big preflop all-in with pocket kings against Igor Kurganov's A♣ J♠.
Robl flopped top set but Kurganov nailed an inside Broadway straight draw on the turn.
Kurganov was also responsible for busting both of Tony Bloom's buy-ins. The second came when the rich British businessman shoved A-8 and was snapped off by the Russian's pocket tens.
Gus Hansen's final elimination was at the hands of Richard Yong. Hansen raised preflop with aces and got all-in after Yong flopped a set with pocket sixes.
PokerListings.com is on location at the 2013 Aussie Millions so keep an eye on our Poker News Section for daily interviews and stories from Melbourne.