The World Series of Poker

The World Series of Poker The World Series of Poker is a large group of poker tournaments culminating in a popular and lucrative "main event". The World Series of Poker has undergone many changes during its 40+ year history, and it has become the most well-known poker tournaments in the world.

The beauty of the World Series of Poker today is its availability -- recent big contenders at the final table and tournament winners, like Jerry Yang, have been virtual amateurs, many with less than two years experience under their belts. You or I could win a seat at the WSOP through any number of "play-in" tournaments at casinos both virtual and bricks and mortar and become the next poster child for poker.

World Series of Poker History

This is a brief World Series of Poker history. We'll expand the information about the history of the WSOP with additional articles covering specific years.

From very humble beginnings, a wave of international attention has crested recently around what is known to poker players as the World Series of Poker. It began in 1968 as an invitation only event, a small group of poker elite, the number of which in that day were nothing compared to today's tournaments thousands of entrants. Sponsored by a man named Tom Moore of San Antonio, Texas, the original invitational was held at the Holiday Hotel and Casino in Reno. This inaugural event was won by a poker player with the unlikely name of Crandell Addington.

The poker tournaments that would eventually become the World Series of Poker was the vision of famous Las Vegas casino owner (and skilled poker player) Benny Binion, who used his own casino, Binion's Horseshoe, to begin hosting a series of cash games in 1970. At that time, the games played were five-card stud, deuce to seven low-ball draw, razz, seven-card stud, and Texas hold 'em.

Today's World Series of Poker is hold 'em obsessed -- fully half of the 55 tournaments that made up the most recent year's WSOP were hold 'em games.

The format for the Main Event, at that time, was a freeze-out. In another startling difference between the WSOP of then and that of now -- the winner in 1970, Johnny Moss, was elected as the first World Champion of Poker and received a silver cup as a prize. No final table, no cash, no scantily-clad women or television crews milling about.

In 2004, Harrah's Entertainment purchased Binion's Horseshoe casino but wisely kept the rights to the Horseshoe and World Series of Poker brands while selling the hotel and casino to MTR Gaming Group. The announcement was made that the 2005 Series events would be held at the Harrahs-owned Rio Hotel and Casino, located just off the Las Vegas Strip.

Luckily, by this time, Texas hold 'em had such a hold on the country that national televising and general buzz about the even kept most people from even being aware that the WSOP changed venue.

What has always been a very popular event among serious followers of gambling has mushroomed into an international phenomenon that draws the attention of millions. Furthermore, the WSOP is responsible for introducing new champions who instantly become superstars -- any televised event in America needs superstars to succeed. These poker superstars, many of whom led ordinary lives prior to their victories at the World Series of Poker, soon find themselves inking multimillion-dollar endorsement deals and becoming recognized all over the planet. The natural result of such a boom in popularity is to find some way to expand. After all, the tournament itself only runs for six weeks each summer and is confined to one location in Las Vegas. Given the interest in professional poker around the world, confining an event of this magnitude made no sense.

The organizers of the World Series of Poker then made a very smart business decision. In the year 2005 a new tournament circuit opened up, one that takes places in various locations around the nation. There is even speculation that two or three events will be held at locations around the world. However, currently all WSOP satellite events are under the control of Harrah's Entertainment, who owns the Rio in Las Vegas. It only makes sense that all of these events take place at casinos owned by Harrah's in different parts on the United States. The Rio is the new permanent home of the WSOP.

The World Series of Poker Main Event

Often the most televised event in poker in the world, the "Main Event" of the World Series of Poker has its own unique history and tradition. Players like Phil Hellmuth make grand entrances, the likes of which rival boxers ring productions. In 2008, for instance, Hellmuth arrived in mock military attire, exiting a jeep and escorted by a platoon of beautiful "soldiers".

The World Series of Poker main event has been the $10,000 buy-in no-limit Texas Hold 'Em tournament since 1972. For comparison's sake, the buy-in in 1971's tournament was $5,000. A doubling of the buy-in in just one year (remember, five grand was no small change in 1972) could mean the WSOP was concerned about the presence of too many amateurs. Either way, the new buy-in meant winners of the event not only get their picture placed into the Gallery of Champions at Binion's, but they also win the largest prize of the tournament and a gold bracelet.

The winner of the main event has traditionally been given the unofficial title of world champion, no vote required as in the early days. However the game's top players seem to imply in interviews and statements that the recently-added $50,000 H.O.R.S.E. event is the one which ultimately decides the world's best player. Unofficial or not, the main event prize, which has been as high as 12 million bucks, pretty much secures your poker bragging rights.

There have been more than a few memorable moments during the main events, including Jack Straus's 1982 comeback win. Jack stood up from the table, believing he had bet and lost his entire stack, only to discover a single $500 chip. This is the stuff of Hollywood, and it happens all the time. Look at people like Chris Moneymaker, who go from working class to superstar status in a matter of weeks through the World Series of Poker. The WSOP is popular in America because it is so American: equal opportunity riches. Chris Moneymaker and Greg Raymer, the winners in 2003 and 2004, both qualified for the main event through satellite tournaments at PokerStars -- an online cardroom whose popularity soared after news of their victory.

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