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Although Teddy KGB's hand is never revealed to the audience, the general consensus is that perhaps he was holding pocket Aces. This is evidenced by several things;
1. He beats Mike at the beginning of the film with the same hand(2 aces, hearts and diamonds).
2. The way he is betting throughout the hand.
3. His dialogue when the Ace of Spades hits on the river. ("That Ace could not have helped you").
4. The fact that he taunts Mike when the Ace appears on the river. ("It hurts doesn't it?") Perhaps thinking that he has the best hand with a set of Aces against what he probably suspects to be a busted draw from Mike.
5. His decision to push all of his chips into the pot when the Ace appears on the river.
6. His reaction when he loses the hand. (Getting angry and cursing).
7. The fact that he decided to slow play his pocket Aces earlier in the film. When his Aces full of nines, beat Mike's nines full of Aces. (Perhaps he was trying to slow play them again).
The DVD commentary track for the film, where four poker pros do commentary on the film, (Chris Ferguson, Phil Hellmuth, Johnny Chan and Chris Moneymaker), they also speculate that perhaps KGB might have been holding pocket Aces because of these and similar facts. Edit
Teddy KGB's tell was that when he had nothing and was bluffing, he would only break open his Oreo cookies, but not eat them. But, when he would have a winning hand, he would not only break open his Oreos, but he would also eat them. Such as when Mike suspects he has 4-2 for a straight, when the flop reads; 5 3 A, and Mike only has two pair, Aces and fives. Edit
Worm flees the city to avoid the creditors. He offered Mike to join him but he declines.
Mike plays one on one against KGB, and wins 60 grand. He gives ex-girlfriend Jo an envelope with $10,000 for Petrovsky, the dean who lent him the money, and drives off to JFK airport on his way to Las Vegas, to take a shot at the World Series of Poker. Edit