We remain six-handed in the $50,000 H.O.R.S.E. World Championship event here at the 2009 World Series of Poker but the story of the last hour is David Bach's precipitous fall from grace.

Bach had been in contention for the chip lead at the end of the last hour of play but has seen his fortunes fall in calamitous fashion.

The former professional bowler is now on less than one million chips and finds himself second only to Huck Seed when it comes to not having very many chips.

Bach's swong was precipitated by a Stud hand with 2007 WSOP HORSE finalist John Hanson with the hands winding up as follows:

Bach: (x-x) K A Q 7 (x)

Hanson: (x-x) T Q 7 7 (x)

You're too close, man!

Ville Wahlbeck folded out on Fourth Street but Bach bet Fifth, raised Sixth and bet again on Seventh.

Hanson called him down, turning up a ten to make tens-up. Bach could only muster buried fives and Hanson took the pot.

Hanson On The Rise

Hanson continued to chip up into the Stud 8 round, winning a tidy pot against Erik Sagstrom

Sagstrom check-called to the river with A-9-3-9 up with Hanson firing all the way with 4 Q 6 7. 

At showdown, Hanson turned up 5 3 7 for the seven-high straight which was enough to scoop.

Wahlbeck Holding Steady

Finnish sensation Wahlbeck started the last hour losing in Stud-8 to Hanson when the latter rivered aces-up to scoop against Wahlbeck's pair of kings.

But Wahlbeck would chip up in the Hold'em round, taking a pot back from Hanson with A-Q on a K-K-10-Q-K board and then taking another pot from Hanson with a river bet on a A-A-2-3-6 board.

Wahlbeck is on two million and remains squarely in contention, albeit still a mite short-stacked.

Chau Giang is the latest casualty of the $50,000 H.O.R.S.E. final table.

Giang was eliminated in the Hold'em round at the hands of Erik Sagstrom. The Full Tilt pro raised preflop and was three-bet by the Scandie out of the small blind. 

Giang made the call and the flop came A Q 5. Sagstrom bet out and a raising war ensued, with Giang ultimately four-betting all-in and Sagstrom making the call with A Q to counter Giang's Q 9.

The turn was the T to give Giang a few outs to a diamond flush, but the river was the 4 and Chau was down, out in seventh place for a $184,087 payday.

Meanwhile...

Wahlbeck Inches Ahead

Ville Wahlbeck is no longer the tournament short-stack, having built his chips up with a couple of decent pots in O-8 and Razz.

Needs nurturing!

The O-8 hand came at the expense of Vitaly Lunkin when the Finn scooped the pot on an A 5 3 T J board with K 7 4 2 for the Wheel Straight.

Then, in Razz, Wahlbeck bet his A-5-6-3 to the river against Erik Sagstrom's 6-A-6-7, getting calls on every street but the last as Sagstrom ultimately opted for discretion.

The Finn is on over 2 million at the current juncture.

Seed Swonging

Huck Seed, meanwhile, is seeing his equity in this tournament dwindle. The 1996 Main Event winner is on just 1 million in chips and will need to make moves to chip up in the next level if he wants a chance at a fifth WSOP bracelet.

Seed's latest setback came at the hands of Vitaly Lunkin in a Stud hand that also included Sagstorm.

The hands were as follows:

Seed: (x-x) K Q 2 6 (x)

Sagstrom: (x-x) T K 8 J (x)

Lunkin: (x-x) A 9 4 5 (x)

Lunkin bet Fourth through Sixth Streets but checked the river, only to execute a fiendish check-raise when Seed took the bait.

The Full Tilt pro laid it down (as did Sagstrom) and Lunkin took the pot.