The first event at the 2012 World Series of Poker Europe is in the books. Emerging victorious over the 227-player field was Imed Ben Mahmoud to earn a payday of nearly €150,000 and his first-ever WSOP gold bracelet!

Mahmoud began Day 3 sixth in chips out of the final eight players. He maneuvered his way to heads-up play with start-of-the-day chip leader Yannick Bonnet, but was slightly behind in chips. Right away, though, Mahmoud snatched the chip lead and never looked back from there.

When the final hand came up, Mahmoud four-bet all in with the and Bonnet put himself at risk with the . The board ran out and it was all over. For his finish in second place, Bonnet earned himself over €90,000.

By winning this bracelet, Mahmoud has become the first-ever gold bracelet winner from the country of Tunisia — the smallest country in North Africa. He surely did his country proud and will be wearing a giant smile on his face for the rest of the foreseeable future.

Final Table Payouts

With the first event in the books, things are just getting started here in Cannes. Event #2: €1,100 No-Limit Hold'em is moving forward and Event #3: €5,300 Pot-Limit Omaha will begin tomorrow. Be sure to stay tuned to PokerNews all series long for all of the coverage.

On the button, Imed Ben Mahmoud raised to 62,000. Yannick Bonnet reraised from the big blind to 150,000. Mahmoud reraised all in, having Bonnet covered. With a total stack of 735,000, Bonnet called and the cards were on their backs.

Bonnet turned over the for two overcards against the for Mahmoud. With less chips, Bonnet was the player at risk and looking to double up. If not, the first gold bracelet of the 2012 World Series of Poker Europe was going to be wrapped around Mahmoud's wrist.

The flop came out and you could see the body of Mahmoud tense up a little more as he anxiously awaited two more cards to come. The turn brought the and that meant the victory was just one card away for Mahmoud.

The dealer burned one more time and slapped the on the river, awarding the hand and the tournament to Mahmoud. He erupted from his chair in excitement as he had captured the title here in the first event.

For his runner-up finish, Bonnet earned €90,884.

Imed Ben Mahmoud	1,703,000	730,000
Yannick Bonnet	0	-730,000

Yannick Bonnet raised to 62,000 on the button and Imed Ben Mahmoud reraised to 175,000 from the big blind. Bonnet folded and Mahmoud won the pot.

Imed Ben Mahmoud	973,000	65,000
Yannick Bonnet	730,000	-65,000

Yannick Bonnet raised to 50,000 on the button and Imed Ben Mahmoud called from the big blind. The flop came down and Mahmoud check-called a bet of 30,000 from Bonnet.

The turn was the and both players checked. The river was the and Mahmoud led for 75,000. Bonnet folded and Mahmoud took the chip lead.

Imed Ben Mahmoud	908,000	84,000
Yannick Bonnet	795,000	-84,000

The two players have returned and the cards are in the air for the heads-up match.

The two remaining players are on a short break. Here are the official heads-up chip counts.

Yannick Bonnet	879,000	-75,000
Imed Ben Mahmoud	824,000	124,000

Matan Krakow's amazing two-year run has come to an end. After finishing in fourth place last year in this event, Krakow was just eliminated in third place this time around, making for an amazing back-to-back run.

Krakow was all in for his last 50,000 or so with the and up against the for Yannick Bonnet. The flop, turn and river ran out and Bonnet's pair of threes earned him the win. Krakow took home €63,671 for his effort.

Matan Krakow

0

-55,000

On the flop, Matan Krakow checked and Imed Ben Mahmoud fired 90,000. Krakow check-raised all in for 349,000 and Mahmoud made the call.

Mahmoud:
Krakow:

The turn was the and river the . Krakow did make two pair, but that two pair gave Mahmoud a straight and he won the pot. Mahmoud was all in on the flop for 294,000, leaving Krakow with just 55,000 in chips.

Imed Ben Mahmoud	700,000	400,000
Matan Krakow	55,000	-396,000

Yannick Bonnet and Imed Ben Mahmoud both put 102,000 in preflop before seeing the flop come down . Bonnet was first and checked. Mahmoud also checked.

The turn was the and Bonnet checked. Mahmoud opted to fire this time and tossed out 153,000. A few seconds passed before Bonnet check-raised all in for 443,000. After a minute, Mahmoud folded and Bonnet won the big pot.

Yannick Bonnet	954,000	364,000
Matan Krakow	451,000	-44,000
Imed Ben Mahmoud	300,000	-320,000

We will be back in one hour.

From the button Matan Krakow just moved all in. His stack had dwindled over the last half an hour, and Imed Ben Mahmoud only needed to call 255,000. From the small blind Mahmoud did so, and Yannick Bonnet folded.

Showdown:
Matan Krakow:
Imed Ben Mahmoud:

The board ran out , and Krakow stayed alive.

Yannick Bonnet	670,000	0
Matan Krakow	520,000	265,000
Imed Ben Mahmoud	500,000	-130,000

Yannick Bonnet just moved all in from the small blind for 287,000 and the pressure was on Matan Krakow. From the big blind he took his time before eventually pulling the trigger.

Showdown:
Yannick Bonnet:
Matan Krakow:

The board ran out , and Bonnet doubled up. All three players are pretty even, and this is looking to be a very long and tough battle.

Imed Ben Mahmoud	630,000	-70,000
Yannick Bonnet	574,000	228,000
Matan Krakow	500,000	-145,000

Play will resume in five minutes.

Both Yannick Bonnet and Imed Ben Mahmoud decided to take it easy with two pair just now. Bonnet raised to 32,000 from the button and Mahmoud defended his big blind.

The flop came down , and Mahmoud check-called 32,000. On the turn the hit, and both players checked.

The river was the , and Mahmoud check-called 40,000. Bonnet showed , but that was no good against Mahmoud's .

We are down to just three players after Senh Ung has just been eliminated. From the small blind Ung raised to 33,000, and Yannick Bonnet moved all in. Ung called right away creating a pot worth right around 400,000 chips.

Showdown:
Yannick Bonnet:
Senh Ung:

The board ran out , and Ung was done. After shaking hands with his opponents Ung left the stage, and just three players remain now with a chance to win that gold bracelet!

Yannick Bonnet	346,000	-119,000
Senh Ung	0	-200,000

Even though Senh Ung took down a pot after re-shoving, it's still mostly Imed Ben Mahmoud who's winning pots. All four players seem very cautious with the WSOPE bracelet within reach, but Mahmoud is the most active so far.

Just now Matan Krakow raised to 32,000 from the button, and Mahmoud picked up the pot with a three-bet to 105,000 from the small blind.

Imed Ben Mahmoud just raised to 34,000 from the button after which Senh Ung moved all in. After Yannick Bonnet had folded his big blind it was back on Mahmoud, who went into the tank.

"You show if I fold?" Mahmoud asked his opponent who remained silent. Eventually Mahmoud folded and Ung picked up some chips.

Imed Ben Mahmoud	410,000	-30,000
Senh Ung	200,000	18,000