Smith, who ran deep in last week's WPT Southern Poker Championship and was among the leaders throughout, finds himself just under the one-million chip mark at Borgata, with Israeli Or Abramov in the lead on just under 1.5 million.
Roslyn Quarto became the last woman standing after Team PokerStars Pro Vanessa Selbst busted in the early part of the day and now finds herlsef among the leaders as well.
Smith has $5,467,468 in career live tournament earnings putting him in the top 50 all-time. Nicknamed Birdguts, he won his first WSOP bracelet this past summer.
The $3,500 event began Sunday drawing 718 players to create a $2,369,400 prize pool with $533,210 reserved for first.
They will play down to a final table Thursday and crown a champion Friday.
The remaining players in the field are all in the money.