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The epic heads-up match has come to a conclusion, with Jonathan Karamalikis the man to emerge the winner.

There was some more small ball played prior to the final hand, with Ryan Otto limping the button once more and Jonathan Karamalikis checking his option to take play to a flop of .

Karamalikis check-raised Ottos' 30,000 continuation bet to the tune of 80,000 which was enough to win the hand and reduce Otto to 250,000.

Karamalikis shoved the button the next hand to take the blinds, with Otto getting a walk the hand after, and winning the next flop played in a limped pot. Then it was another Karamalikis button shove.

Then, finally, some action. Reduced to his final 220,000 (7BB) Otto moved in from the button, with Karamalikis making the call and both players tabled their hands. Sensing the end was near, the watching rail crowded as close to the table as the barriers allowed to see who had what.

Ryan Otto:
Jonathan Karamalikis:

Otto had the best of it pre-flop and paired his five on the board, but disaster struck on the turn to give Karamalikis an unbeatable straight. There was no coming back from this, and Otto got up from his chair to shake his opponents' hand.

The river was merely a formality, with Jonathan Karamaliks battling back from close to a 4-to-1 chip deficit to win his first World Series of Poker Circuit ring and the AU$377,625 (~$257,640) top prize.

Both players look physically drained after that marathon 3 hour and 40-minute back-and-forth heads-up battle, though Karamalikis was understandably a little more upbeat about it as he posed for his winner's shot before accepting the congratulations of the Australian rail.

Otto headed off to claim the AU$233,624 (~$159,395) on offer for second and will be disappointed not to have been able to convert his chip lead into a win, but there is no shame in losing to a player of Karamalikis' calibre.

End of day wrap to follow.