Alex Foxen Dominates $25K PLO High Roller at 2026 WSOP

Alex Foxen has positioned himself as the commanding chip leader in the $25K PLO High Roller at the 2026 WSOP, bagging 6.8 million chips to lead 31 survivors from a 451-entry field. The four-time bracelet winner holds a massive 2.5 million chip advantage over his closest competitor heading into Day 3, extending what’s already been a career-defining summer in Las Vegas.

What Happened

The $25K Pot-Limit Omaha High Roller attracted a robust field of 451 entries, generating a substantial prize pool that will reward the game’s elite. After two grueling days of action, just 31 players remain in contention, with Alex Foxen sitting atop the leaderboard in dominant fashion.

Foxen’s 6.8 million stack translates to approximately 136 big blinds when play resumes at the 25K/50K/50K level on Thursday at noon. That’s a commanding position in any tournament, but particularly significant in PLO where deep stacks allow for creative post-flop maneuvering and multi-street aggression.

Chenxiang Miao occupies second place with 4.3 million chips, matched by Sergio Martinez Gonzalez at the same count. Benjamin Juhasz (3.8 million) and Jeremy Druckman (3.7 million) round out the top five. Notable bracelet winners among the top ten include Eelis Parssinen (3.2 million), Richard Gryko (3.2 million), and Chance Kornuth (2.6 million).

This result continues an extraordinary WSOP run for Foxen, who entered this event fresh off a victory in the $10K Super Turbo Bounty that earned him his fourth career bracelet. Earlier in the series, he also posted a semi-final appearance in the $25K Heads-Up Championship, a fifth-place finish in the $600 NLH/PLO event, and an impressive sixth-place showing in the prestigious $100K High Roller.

The accumulated results have propelled Foxen to one of the top positions on the 2026 WSOP Player of the Year leaderboard and the number-one spot in WSOP Fantasy points. Remarkably, his wife Kristen Foxen has also captured a bracelet this summer, winning the $25K High Roller to make 2026 a banner year for the poker power couple.

The Poker Strategy Breakdown

Building a chip lead this substantial in a high-stakes PLO tournament requires more than running hot—it demands exceptional technical execution across multiple strategic dimensions. Let’s examine the key strategic elements that typically separate the leaders from the pack in these elite fields.

In Pot-Limit Omaha, hand selection becomes exponentially more complex than Hold’em. With four hole cards instead of two, the number of possible combinations explodes, but not all four-card hands are created equal. The strongest PLO hands contain coordinated cards that work together—suited connectors, double-suited holdings, and hands with multiple ways to make the nuts.

Foxen’s deep understanding of hand equity and post-flop playability likely contributed significantly to his chip accumulation. In PLO, drawing hands frequently have much better equity against made hands than in Hold’em. A wrap straight draw combined with a flush draw can actually be favored against top set, making aggressive play with these monster draws not just viable but often optimal.

Position takes on heightened importance in PLO due to the game’s drawing nature. Being last to act allows you to see how opponents respond to the board texture before committing chips. With a deep stack like Foxen’s, position becomes a powerful weapon for applying pressure and forcing difficult decisions on opponents with marginal holdings.

The pot-limit betting structure creates unique dynamics compared to no-limit formats. You can’t simply shove all-in on the flop in most situations, which means chip stacks remain in play deeper into hands. This rewards players who excel at multi-street planning and can accurately assess their equity on each street as new cards arrive.

Stack-to-pot ratio (SPR) management becomes crucial in PLO. With 136 big blinds, Foxen has the flexibility to see flops with speculative hands that have tremendous implied odds when they connect. However, he must also be disciplined about avoiding marginal situations where he’s committing too much of his stack without the nuts or a premium draw to the nuts.

Blockers play a more sophisticated role in PLO than many players realize. Holding specific cards that block your opponent’s possible nut hands can turn a marginal bluffing opportunity into a profitable one. Similarly, having blockers to the nuts yourself can make your value hands more vulnerable than they appear, requiring careful consideration of board textures and opponent tendencies.

Reading The Field & Table Dynamics

The remaining field of 31 players represents a murderer’s row of poker talent. When you’re competing against multiple bracelet winners and high-stakes regulars, exploitative adjustments become essential for maintaining and extending a chip lead.

The presence of players like Daniel Negreanu (995,000 chips) adds an interesting dynamic. Negreanu’s table presence and verbal engagement can provide information, but against world-class opponents, focusing on betting patterns and timing tells becomes more reliable than physical reads.

With 18 players reaching the money and earning WSOP Fantasy field bonus points, the bubble will create fascinating dynamics. Players with short stacks may tighten up considerably to secure the min-cash and fantasy points, while big stacks can leverage their chips to apply maximum pressure during this critical phase.

ICM considerations will intensify as the tournament approaches the final table. The top spot awards 129 WSOP Fantasy points, while a final table appearance guarantees at least 34 points. For players invested in the Player of the Year race or fantasy competitions, these points add an extra layer of strategic consideration beyond pure chip accumulation.

Foxen’s massive chip lead provides strategic flexibility that his opponents lack. He can afford to take calculated risks and put pressure on medium stacks who face difficult decisions about tournament survival versus chip accumulation. This dynamic often allows chip leaders to run over tables during crucial stages.

The mix of playing styles among the remaining contenders—from aggressive young guns to experienced bracelet winners—means Foxen will need to constantly adjust his approach. Against tight players, he can expand his opening ranges and apply relentless pressure. Against aggressive opponents, he can set traps with premium holdings and let them hang themselves.

How To Apply This To Your Game

While most of us won’t play $25K PLO tournaments, the strategic principles that build chip leads at the highest levels translate directly to games at every stake. Here’s how to incorporate these concepts into your own PLO strategy.

First, prioritize hand coordination over high cards alone. A hand like A-A-7-2 rainbow might look strong because of the aces, but it plays poorly post-flop compared to a hand like 10-9-8-7 double-suited. The connected, suited hand has far more ways to make powerful hands and draws, which is what PLO is all about.

Develop your post-flop aggression with draws. If you’re only betting when you make a hand, you’re leaving tremendous value on the table. In PLO, many drawing hands have 50% or better equity against made hands. Learn to recognize these spots and apply pressure when you have significant equity plus fold equity.

Study board textures and how they interact with ranges. A flop like K♥ Q♥ J♠ is dramatically different from 9♦ 7♣ 2♠. The connected, high-card board hits opening ranges hard and creates massive pots, while the dry, low board typically generates less action. Adjust your continuation betting frequency and sizing based on how the board connects with ranges.

Practice pot geometry and planning ahead. Since you can only bet the pot, you need to plan your bet sizing across multiple streets to get stacks in when you want them. If you have 100 big blinds and want to get it all-in by the river, you need to size your bets on each street accordingly—you can’t just wait until the river and shove.

Use your position aggressively. When you’re in position with a deep stack, you have enormous advantages. You can pot-control with marginal made hands, apply pressure with draws, and gather information before making decisions. Don’t waste this advantage by playing passively.

Finally, be disciplined about bankroll management. PLO has higher variance than Hold’em due to the drawing nature of the game. Even when you’re getting your money in good, you’ll face more swings. Make sure you’re properly bankrolled for the stakes you’re playing to weather the inevitable downswings.

Key Takeaways

• Alex Foxen leads the $25K PLO High Roller with 6.8 million chips, holding a 2.5 million chip advantage over second place with 31 players remaining from 451 entries
• Foxen’s chip lead of approximately 136 big blinds provides enormous strategic flexibility for the final day, allowing him to apply pressure during the bubble and final table formation
• This result extends Foxen’s remarkable 2026 WSOP run that includes four bracelets and multiple deep finishes in high-stakes events, positioning him as a Player of the Year frontrunner
• In PLO, hand coordination and post-flop playability matter more than high cards alone—prioritize double-suited, connected holdings that can make the nuts multiple ways
• The 18-player bubble will create significant ICM pressure, with WSOP Fantasy points adding extra incentive for players to reach the money and especially the final table
• Successful PLO strategy requires aggressive play with strong draws, careful SPR management, and constant adjustment to board textures and opponent tendencies

Frequently Asked Questions

What makes PLO strategy different from No-Limit Hold’em?

Pot-Limit Omaha differs from Hold’em in several critical ways. With four hole cards instead of two, hand combinations multiply dramatically, but you must use exactly two cards from your hand. This creates situations where drawing hands have much better equity against made hands than in Hold’em. The pot-limit betting structure also means you can’t simply shove all-in, requiring more sophisticated multi-street planning. Hand coordination becomes paramount—you want cards that work together to make nut hands, not just high cards in isolation.

How does a big chip lead change tournament strategy in PLO?

A substantial chip lead like Foxen’s 136 big blinds provides multiple strategic advantages. You can see more flops with speculative hands that have high implied odds when they connect. You can apply pressure on medium stacks who face difficult decisions about survival versus accumulation. During bubble periods, you can exploit tight play by attacking pots aggressively. The key is using your stack as a weapon while avoiding unnecessary risks that could damage your commanding position.

What should players focus on to improve their PLO game?

Start by mastering hand selection—prioritize double-suited, connected hands over random high cards. Develop your understanding of equity by using PLO calculators to see how various hands perform against each other. Learn to play aggressively with strong draws, not just made hands. Study board textures and how they interact with ranges. Practice pot geometry to plan bet sizing across multiple streets. Most importantly, ensure proper bankroll management since PLO has higher variance than Hold’em.

Final Thoughts

Alex Foxen’s commanding performance in the $25K PLO High Roller represents more than just accumulating chips—it demonstrates the mastery required to dominate elite fields in one of poker’s most complex variants. With 31 players remaining and a massive chip lead, Foxen has positioned himself as the clear favorite to add yet another deep run to his already historic 2026 WSOP campaign.

What makes this performance particularly impressive is the context. Foxen isn’t running hot in a single event—he’s maintaining an extraordinary level of play across multiple formats and buy-in levels throughout the entire series. From Heads-Up to PLO to No-Limit Hold’em, his versatility and consistent execution separate him from even other world-class professionals. When the final cards are dealt on Thursday, we’ll see if Foxen can convert his chip lead into another bracelet and further cement his status as one of the summer’s most dominant forces.

For players looking to elevate their own PLO game, studying how elite players like Foxen navigate these high-stakes tournaments provides invaluable lessons. The strategic principles remain consistent across all stakes—hand coordination, aggressive draw play, position awareness, and disciplined bankroll management. Whether you’re playing $1/$2 PLO at your local card room or satellite tournaments online, incorporating these concepts will improve your results and deepen your understanding of this fascinating game.