More than half of the 201 entrants in the $40k 40th Anniversary event busted out on the first day, thanks in part to a tournament structure that started with 120k stacks and blinds at 200/400 with a 50-chip ante.

Antonio Esfandiari, Justin Bonomo and Chris Moneymaker were amongst the big names near the top of the leader board throughout the day.

In fact, Moneymaker ended the day second to overnight chip leader Bruno Fitoussi.

"I love the fact that we started with an ante," Moneymaker said. "I wish we could do that in the Main Event, because that's when tournaments start.

"It's not a huge advantage with this field, because everyone here knows how to capitalize on it. But I would love to see the first level of the Main Event be 100/200 with a $25 ante."

Flanked on either side by Esfandiari and Freddy Deeb, Greg Raymer survived a very tough table that also included one of the end of day leaders - Michael DiMichele.

Like many of the pros on hand, Raymer liked the $40k buy-in and the blind structure.

"As far as I'm concerned, if you're going to televise it then make it as big as possible," Raymer said.

"If you're someone like me who's fortunate enough to be representing one of the major online sites, PokerStars, they tend to pay the buy-in for us to get us on TV. So as far as I'm concerned, make this thing a $400,000 buy-in. Give me a really good freeroll."

Howard Lederer dropped out of the field late in the day, but the "Professor" approved of the fast-paced opening day.

"Obviously, with a $40k buy-in it's a fast structure, in terms of we're going to lose more than half the field today, me being one of those victims," Lederer said.

"But I think that's a good thing. I'm a little bit disturbed personally by a trend I'm seeing, where in large tournaments you lose ten percent of the field, and then it's like why did we show up to day one?"

Not everyone was enamored with the special 40th anniversary event.

After a sub-par first day, a short stacked Mike Matusow wasn't shy about letting his disdain for the tournament be known, venting his frustrations in vintage Matusow form.

"This tournament is stupid," Matusow said. "Having it on day one [of the WSOP] as a $40k buy-in is ridiculously stupid. Having hour-long limits, starting at 200/400, and playing 10 levels on Day 1 is even more stupid.

"Tomorrow they'll play about five levels to get to 27 players. There's nothing good about this tournament. Whoever put it together is a moron."

A total of 89 players remain in the hunt for the bracelet and PokerListings will continue coverage of this special $40k event on Friday at 2 p.m. PT.

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