World Series of Poker – WSOPRonald Norris
World Series of Poker
The World Series of Poker (also known as WSOP) is the largest poker tournament in the world consisting of several sets. The WSOP is annually held in Las Vegas. Since 2007 the tournament consists of 55 events, which usually finish in just over a month (except the Main Event).
Each winner of one of 55 events wins a WSOP bracelet and a cash prize based on the number of tournament entrants. Almost all poker games have been featured in the tournament since 1968, but during the last years more than 50% of events have been Texas Holdem variants.
The tournament ends with the $10,000 No-Limit Texas Holdem Main Event, which attracts thousands of players. Due to such a great number of entrants, the winner of the Main Event receives a multi-million dollar cash prize.
Since 1971 all World Series of Poker events became tournaments with cash prizes. A 5 Card Stud event was added in 1973. Since that time some new events were added and some removed. In 2006 there were 45 events, which covered major poker variants. In 2006 and 2007 Texas Holdem, Omaha Holdem, 7 Card Stud and some other poker variants have been played at the tournament. H.O.R.S.E., Chinese Poker and S.H.O.E. are also played at the WSOP time to time.
Just like in most poker tournaments, the sponsoring house charges an entry fee. This is usually 6-10% depending on the size of the buy-in. In 2005 the WSOP Main Event $52,818,610 in prize money have been distributed between 560 poker players and $7,5 million first prize was awarded to the winner.
The history of the WSOP begins in 1968 with an invitational event that was held at the Holiday Hotel Casino and sponsored by Tom Moore. Later on, Benny Binion, the owner of Las Vegas casino developed the modern set of events. In the beginning of 1970 the first WSOP that included series of cash games took place at Binion’s Horseshoe. The next year’s World Series of Poker included Main Event as a freeze-out Texas Holdem game. Johnny Moss, the winner of the first WSOP Main Event has been declared as the first World Champion of Poker and won a silver cup as a sign of his victory.