High Stakes Duel III took place in the PokerGO Studio in 2021 with two-time champion Phil Hellmuth returning to play Fox Sports 1's Nick Wright before taking on Tom Dwan in Round 2. After Hellmuth lost to Dwan, he avenged his defeat in Round 3, and then defeated Scott Seiver in Round 4. The highest stakes in High Stakes Duel history were reached in Round 5 when Hellmuth faced Jason Koon. Koon emerged victorious, and when no challenger came forward, Koon was crowned the High Stakes Duel 3 champion.