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History:
The World Series of Poker is probably the most prestigious Poker event in the world and to this day remains a spectacle of fascination, glamour, nerves and skilled strategy. The concept of the World Series of Poker was originally created by Tom Morehead of the Riverside Casino in Reno as an invitation - only event in the 1960's. This event received limited accolades and failed to impact greatly onto the Poker playing population. The idea only really flourished under the guidance and direction of Benny Binion, Poker player, casino owner, Las Vegas Legend.
Benny Binion was a tough man, running casinos in and around Dallas in the 1930's. Reputedly he had killed at least 2 men on his way to the top. In 1946, he left Texas behind and started up in Vegas, setting up The Westerner Hotel and Casino and a little later on, The Horseshoe. 1949, Benny Binion sponsored a 5 month Poker event between Nicholas "Nick the Greek" Dondolas and Johnny Moss. Once again, the event failed to really spark the imaginations of the masses.
Benny Binion drove the success of the World Series and of his casinos by turning gambling into a classy, exclusive and stylish affair. He was the first operator to introduce no limit betting, which drew the High Rollers to his establishments. He laid out his casinos with carpets instead of sawdust, and provided VIP treatment for the High Rollers, and complimentary drinks for those at the slots. Poker had never been particularly popular in casinos due to the limited take for the House in proportion to floor space, and also because there was many difficulties in trying to restrict and monitor cheating players. Now a Poker room can be found in almost every casino, thanks to the drive and vision of Benny Binion and his two sons, Jack and Ted.
So in 1970, Benny Binion launched the World Series of Poker at The Horseshoe in Vegas and from here, the World Series proper was born. The main event was No Limit Texas Hold'em Poker but in 1973, Five Card Stud was also added to game play. In 2006, the World Series will incorporate nearly every variant of Poker with 42 events being held. From 1971, the World Series of Poker was and still is, held every year as a tournament with a cash prize. And as a nod to the prestige of competing, the winners will also each receive a World Series gold bracelet.
The World Series of Poker continues to grow with the participant numbers increasing every year. In 1970, there were 7 entrants. Thirty years later in 2000, the number had swelled to 4780. In 2005, there were a staggering 5619 players for the main event alone. This year, in 2006, the player entry for the main event has been capped at 8000.
Television:
One of the biggest things to boost the World Series of Poker was the decision by ESPN to televise the event. Originally, the networks televising the games made for some dull viewing as the players hands were not revealed, and so viewers were unable to tell if players were bluffing, lucky, or playing strategically. ESPN took a more innovative approach by filming the live events, including revealing the hands being held on camera. Then the production team cuts out the dull games, and provides commentary for the more exciting games, which are then televised as though they are being viewed live. This promoted the popularity of Poker because viewers at home were able to compare their own playing techniques to those taking part in the World Series, either learning new skills, or building their own confidence.
The Main Event and Prize Money.
Texas Hold'em Poker, with no limit is the main event at the World Series. This event has a $10,000 buy in, a sum which has remained constant since 1972.
The sponsoring casino takes a percentage (or "rake") of the buy in, and distribute the remaining funds as prize money. In 2005, the first prize for the main event was $7.5 million. With the number of players increasing each year, this figure is only likely to go up and up.
In 2006:
The World Series of Poker 2006 will be hosted by The Rio and will begin on 25th June. The Main Event will start on 28th July until 10th August. It is estimated that the first prize will be in the region of $10 million, and a special commemorative World Series of Poker bracelet will be created in recognition of this landmark Poker event.
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