WSOP-World Series of Poker History and Information

The World Series of Poker (WSOP) is the most celebrated poker event in the world. This prestigious month-long competition takes place every year in Las Vegas, Nevada. It is where the best poker players come from all over the world to compete in over 50 different tournaments. The winner of each tournament receives, apart from a big cash prize, the coveted WSOP bracelet, which is considered to be the most prestigious non-monetary prize a poker player can win.

The first WSOP event took place in 1968, at the Holiday Hotel in Reno. The event was considerably smaller back then, as it was only open to players with an invitation. By 1971, the tournament had been modified and greatly expanded by famous casino owner and poker player Benny Binion, who started hosting the event in his very own Horseshoe Casino in Las Vegas. The number of tournaments have been on the rise ever since, with the 2007 WSOP featuring as many as 55 events. Needless to say, the prizes have become much bigger, too.

The main event of the WSOP is the $10,000 no-limit Texas Hold ‘Em tournament. The winner of this event is given the unofficial title of World Champion, and walks away with the largest cash prize the WSOP has to offer. In 2007, Jerry Yang beat 6,358 other entrants to win a prize of over $8 million US, and in 2006 it was Jamie Gold who won the largest pot in WSOP history - $12 million US, after defeating more than 8,700 entrants. The no-limit Texas Hold ‘Em main event has also been the most televised poker event of recent years, with exclusive coverage from ESPN.

One of the greatest and most memorable moments in WSOP history was the 1982 main event miraculous comeback by Jack Straus, who was a regular at the WSOP since the early ‘70s. After he thought he had lost all his chips, Straus got up from the table, only to discover that he mistakenly left a single $500 chip under his napkin. Since he hadn’t declared ‘all in’, the tournament directors decided it would be right to let him continue. Down to his last chip, Straus came back to win the tournament, the bracelet, and the World Champion title.

In recent years, players such as Chris Moneymaker and Greg Raymer contributed greatly to the popularity of online poker through their unexpected WSOP success. Both being amateur players at the time, they each qualified for the WSOP main event through online satellite tournaments. In 2003 it was Moneymaker who went all the way to take the title, and in 2004 Raymer followed in his footsteps. Amateur poker players world-wide have been trying to do the same ever since.

The winner of the 2007 main event, Jerry Yang, was also considered a poker amateur prior two his WSOP win. He had only been playing poker for two years before he won a $225 satellite tournament that paved his way to over $8 million in prize money.

The great success that amateur poker players have been enjoying at the WSOP main event in recent years has been noticed not only by other eager amateurs. Some of the world’s top poker professionals have stated that they believe the World Champion title should no longer belong to the winner of this main event. The growing popularity of both the WSOP and online poker has made it possible for many amateurs to enter the no-limit Texas Hold ‘Em tournament through smaller online satellite tournaments. The ‘low’ buy-in of ‘only’ $10,000 can be easily raised through revenue generated by online sites hosting these satellite tournaments, therefore making room for many more amateurs playing at the main event. This means that there is a good chance an amateur will go on to win the main event every year, simply because there are so many more amateur players than professionals entering the event. Some professional players believe that the winner of the recently added H.O.R.S.E  tournament, with its $50,000 buy in, should be declared World Champion.

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