The 2008 World Series of Poker Main Event is over and Peter Eastgate has emerged the champion of the November Nine! The 22-year-old Dane has defeated Russia's Ivan Demidov in heads-up play, making a wheel straight on the climactic hand to clinch the tournament and $9,152,416 in prize money.

Here's how the final hand played out:

Demidov and Eastgate returned from a 20-minute break with Eastgate squarely in control, holding more than $120 million of the $136.8 million chips in play. 

On the first hand back, Eastgate limped in and Demidov checked his option in the big blind. The flop came K 3 2 and Demidov checked to Eastgate, who bet out $1.25 million. Demidov made the call and the turn was the 4.

Again, Demidov checked and Eastgate fired out $2 million. Demidov raised to $6 million and Eastgate opted to smooth-call, though at this point an all-in on fifth street was almost a foregone conclusion.

The river was the 7 and sure enough, Demidov shipped. Eastgate instantly called and after a tension-filled pause, Demidov turned up 4 2 for two pair. Eastgate flipped A 5 for the wheel, however, taking the pot and clinching the tournament at 2:35 a.m. on Tuesday, Nov. 11.

Eastgate becomes the youngest-ever WSOP Main Event champ, supplanting Phil Hellmuth for that honor. He claims the second-largest first prize awarded in WSOP history and earns his first World Series bracelet in the process.

For his runner-up finish, Ivan Demidov takes $5,809,545 to go with the £344,850 he earned for his third-place finish at the Main Event of this fall's World Series of Poker Europe.

We'll have tons more coverage of this landmark event, including full coverage on PokerListings TV, as well as an interview with the winner and full recap blog before the night is over. Stay tuned!

For the first few hours of this heads-up match the advantage seemed to lie with Denmark's Peter Eastgate, and although Demidov managed to claw his way part of the way back, Eastgate took the lead again with a massive pot just moments ago.

We're 30 minutes into Level 39, and with blinds of $500,000/$1,000,000 and an ante of $150,000, things are starting to get a bit more serious. 

New Counts

Here are the updated counts at the time of this post.

Another Big One for Eastgate

Demidov is on the button and makes it $2 million to go. Eastgate calls in the big blind and the flop comes down 8 8 5. Both players check and the turn is the 3. Eastgate bets $2.5 million and gets a call. The river is the 9 and Eastgate fires $4.5 million. Demidov calls but quickly mucks when Eastgate tables 3 3 for the full house.

Biggest Pot So Far

Peter Eastgate just took down a huge pot worth somewhere in the neighborhood of $45 million. It began with Demidov opening from the button to $2 million and Eastgate calling in the big blind.

So close.

The flop came down K T 7 and both players checked. The turn was the J and Eastgate led out for $2.5 million. Demidov popped it to $8 million and after a bit of thought Eastgate made the call.

The river was the 3 and Eastgate checked. Demidov tanked for a few moments before counting out $12 million and depositing it in the middle. Eastgate snap-called and turned over 4 7 for the turned flush. It was more than enough against Demidov's ace-high and Eastgate rakes a monster.

Ship It to Eastgate

Peter Eastgate is on button and limps in. After Demidov checks his option the flop comes down Q 5 2. Both players check and the turn is the 6. Demidov checks, Eastgate fires $1.25 million and Demidov calls. The river is the 7 and Demidov checks one last time. Eastgate bets $2.25 million, which is enough to force Demidov out of the hand.

As Level 38 of the 2008 World Series of Poker Main Event draws to a close, Peter Eastgate has become the first $100 million man, stretching his advantage over Ivan Demidov to more than 3-1. Demidov seems content to let Eastgate do the bullying, and the Dane is squarely in control of this match.

Broken Record!

Tournament director Jack Effel has just grabbed the mic to inform the huddled masses that at 14 hours, three minutes long, this WSOP Main Event final table is now the longest in recorded history, superseding the 2005 iteration during which it took Joe Hachem 14 hours, two minutes to claim the title. 

Next stop is the longest-ever WSOP final table, which was set at this year's World Series of Poker Europe when John Juanda took roughly three years to claim the Main Event title. Onward!

Nice Pot for Eastgate

Peter Eastgate limps in before Ivan Demidov raises to $1.95 million out of the big blind. The flop comes 9 7 6 and Demidov bets out $3.625 million. Eastgate considers his options before making the call and the turn is the J. 

Let's break some records.

Both players check to see the river, which brings the Q, and Demidov bets out $7 million. Eastgate makes the call and the Russian tables A T for ace-high. Eastgate has J 8 for second pair and takes down the pot.

Action Board!

Eastgate limps in and Demidov checks his option. The flop comes 5 4 3 and the poker pundits in the crowd whistle appreciatively. Both players check. The turn is the 4 and Demidov bets out $1.25 million. Eastgate makes the call and the river is the 4.

Demidov checks this time and Eastgate bets out, making it $3 million to play. Demidov folds and Eastgate takes the pot.

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With 50 minutes and change left in the level we're off on a 20-minute break. So far both of our heads-up players have been more than up to the challenge of performing in front of this crowd and ultimately the world.

Right now the lead lies with Peter Eastgate but there's still plenty of play left in this thing. Read on for the highlights of the last hour and make sure to keep it locked right here for all the action, brought to you the way only PokerListings knows how. 

Updated Counts

Here are the latest as far as chip counts go.

Two in a Row for Demidov

Ivan Demidov opened from the button for $2 million and got a call from Eastgate in the big blind. The flop came down J 7 3 and both players checked. The turn was the 8 and Eastgate led out for $2.5 million. Demidov announced raise and made it $7.5 million to go. Eastgate contemplated his options for a few moments before deciding to fold.

On the very next hand Eastgate opens to $2 million from the button and Demidov takes a second before announcing raise and repopping to $6,175,000. Eastgate gives it some thought but ultimately mucks his hand.

Eastgate Cruising

Ivan Demidov opened this pot to $1,750,000 from the button and got a call from Peter Eastgate. The flop came down 9 8 4 and both players checked. The turn was the 3 and Eastgate led out with a $2,750,000 bet. Demidov made the call and the river brought the J.

Eastgate reached for chips and slid $3.5 million across the line. Demidov gave it some thought before tossing his hand in the muck and conceding the pot.

Two men enter, one man leaves.

Queen-High Good for Eastgate

Peter Eastgate was on the button and raised to $2 million straight. Demidov thought for a moment before paying the difference, taking us to a flop of 8 8 5. Both players checked and the turn brought the 4. Ivan checked but Eastgate fired $2.25 million.

Demidov took a short dwell before making the call. The river brought the 4 and Demidov checked one last time. Eastgate looked like he might bet but, after just a moment, opted to check instead. Demidov announced jack-high but Eastgate did him one better, turning over Q T, which was enough to take down the hefty pot.

Yesterday's Recap

Just in case you've missed the action so far make sure to head over to the Tournament Channel on PokerListings TV and check out the recap from last night, hosted by the beautiful Paula Elle!

The cards are in the air and heads-up play is under way from the Rio Casino as the 2008 World Series of Poker Main Event rolls toward its thrilling conclusion. WSOP Player of the Year Erick Lindgren was honored with a sweet custom motorcycle and took the opportunity to remind Peter Eastgate and Ivan Demidov that he and his friends will be holding a cash game after the conclusion of the final table if either man is interested.

Then Michael Buffer, the voice of professional boxing (and reportedly paid $5,000 to appear tonight), introduced the players and instructed the dealer to "Let's get ready to shuffle," which was embarrassing to all involved.

Anyways, a few minutes later the cards were in the air, with former world champs Jamie Gold, Chris "Jesus" Ferguson and Chris Moneymaker among those in the stands.

Here are the highlights from the first few rounds of action:

First Pot for Demidov

On the first hand of play, Peter Eastgate raises to $1.5 million and Ivan Demidov makes the call. The flop comes K T T and Demidov checks to Eastgate, who bets $1.75 million. Demidov again calls and the turn is the K, sending a murmur of appreciation through the crowd.

From Russia with love!

Both players check this time and the river is the K, prompting near howls of astonishment as the dealer puts a full house on the board. Demidov fires out $8 million and Eastgate lays it down.

More for Demidov

Eastgate limps in and Demidov checks his option. The flop comes K Q J and Demidov checks. Eastgate bets out $800,000 and Demidov makes it $2.55 million. Eastgate lays it down and Demidov takes it.

Demidov Takes the Lead!

After the blinds move up, Demidov raises to $2 million and Eastgate makes the call. The flop comes K J 6 and both players check. The turn is the 5 and Eastgate bets out $2.5 million. Demidov flat-calls and the river is the 3. 

Eastgate checks to Demidov, who bets out $6 million. The Dane matches the wager, only to muck when the Russian turns up K 3 for kings-up. Demidov takes the pot and takes over the chip lead on the hand.

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Welcome back to the Penn and Teller Theater at the Rio All-Suite Hotel and Casino in Las Vegas, where Ivan Demidov and Peter Eastgate return to the felt to play out the final hands of the 2008 World Series of Poker Main Event tonight.

Yesterday saw the November Nine reduced to the final twosome over 14 hours of hard-fought play, and after 20 hours of recovery time, Eastgate and Demidov are back at it to battle down to a champion with a gold bracelet and a $9.2 million first prize on the line.

Check out our recap of yesterday's action on PokerListings TV here. If you're afraid of girls or moving pictures read our print-based recap here. 

Action was slated to begin at 10 p.m., but due to the inevitable delays the cards still aren't in the air. We've still got a WSOP Player of the Year presentation to work through and then the action will begin, with play resuming with 8:48 left in Level 37 and Eastgate holding the chip lead, with $79.5 million to Demidov's $57.725 million.

Keep it locked on PokerListings.com for full and comprehensive coverage of this heads-up battle royale, starting soon!