At the end of the second day of the European Poker Tour (EPT) Budapest, Albert Iversen emerged as the chip leader.

A total of 182 players made it through the two flights of day one and this number was whittled down to just 42 during the second day.

Iversen finished the day with 442,500 chips, putting him more than 75,000 ahead of second placed Martin Jacobson who holds 365,000.

Other competitors who put in a strong performance were Ciprian Hrisca, Casey Kastle and William Fry who completed the top five with 280,000, 264,000 and 257,000 chips respectively.

Jacobson secured his strong position by taking out two players in one hand towards then end of the day.

His pocket jacks sent Massimiliano Rosa and Stefano Fiore to the rail with €6,384 ($8,129) each.

Iversen is currently ranked 329 in the Card Player Player of the Year rankings.

He earned $267,314 for his third place finish in the no-limit hold'em with rebuys event at the 2008 World Series of Poker.