The 2011 PokerStars Caribbean Adventure is now down to only 48 players, after a tough Day 3 that saw another 125 hopeful players fall.

Those final 48, of a total starting field of 1,560, are now each guaranteed at least $52,000 (also known as more than I plan to make all year) but clearly after making it this far most have their sites set substantially higher, and are looking instead toward the $2,300,000 that only winning the event can earn them.

Players still in the hunt include Eric Froehlich, Eddy Sabat, Sam Stein and 2003 World Series of Poker Main Event champion Chris Moneymaker, still in the top five going into Day 4.

Players knocked out on Day 3 included Bertrand “ElkY” Grospellier (126th- $20,000), Michael Binger (117th- $20,000), Eric Buchman (101st- $23,500), J.P. Kelly (97th- $23,500) and Dan Heimiller (89th- $23,500).

For more information on Day 3 of the 2011 PCA, or to read updates from Day 4 already underway, visit the PokerStars blog.