Canada's Sorel Mizzi had to settle for third at the Aussie Millions

Canadian poker aces Sorel Mizzi and Peter Jetten both reached the final table of Australia's most lucrative cards event, but neither could prevent a home victory.

Tyron Krost, a student from Sydney, eventually walked away with the A$2 million ($1.8 million) first prize at the Aussie Millions.

The 23-year-old reached the main event, a A$10,000 buy-in no-limit hold'em tournament, at Melbourne's Crown Casino by winning an online qualifier.

Krost then went all the way to the final table before finally defeating Denmark's Frederik Jensen in the heads-up to claim the biggest tournament poker prize ever won in Australia.

The result is sure to have come as a major disappointment to Mizzi, as the Canadian poker professional began the final table as chip leader - with his stack more than three times the size of that of any of his seven opponents.

However, Mizzi was eventually eliminated in third position, meaning the online poker specialist's wait for a first major live action title goes on.

His compatriot Jetten finished in fifth, behind Australia's Kosta Varoxis, while former World Series of Poker Europe winner Annette Obrestad was eliminated in seventh.