WSOP – World Series of Poker
THE WSOP (World Series of Poker), which is held each year in Las Vegas, is the biggest gaming competition in the world.
The first WSOP was in 1970 but it was 12 years before the event started to grow in popularity, drawing 52 competitors in 1982. Satellites were introduced in the 1980s allowing people to win their way into the event and by 1987 there were more than 2,000 entrants. World Series of Poker participation peaked in 2006 with almost 9,000 people playing in the main event.
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Since 2007 the WSOP has comprised 55 events. The winner of each event scoops a World Series of Poker bracelet and a cash prize. The bracelet is thought to be most sought-after prize a poker player can win.
The series ends with with the no-limit Texas hold em Main Event, which attracts thousands of entrants, with the winner receiving a multi-million dollar prize. He is also crowned the World Champion of Poker. Stu Ungar is the only player to have won the Main Event three times.
Currently, Texas holdem, Omaha poker and seven-card stud and their lowball variants are played during the WSOP. The casino sponsoring the event takes an entry fee and distributes the rest in prize money, so the cash pot increases with more players. In the 2005 Main Event, more than $52million in prize money was paid out to 560 players, with $7.5million as first prize.
Since 2004, a Player of the Year Award has been given to the person with the most points gained during the WSOP. Only “open” events in which all players can take part count in the standings. Television coverage has also grown in recent years, especially since ESPN expanded its coverage in 2006. This included showing the final table of the 2006 Main Event via pay-per-view.
There have been many spectacular moments during the Main Event over the years, including Jack Straus’s 1982 win after discovering he had just one $500 chip left. The end of the 1988 main event was featured in the movie Rounders and Chris Moneymaker and Greg Raymer, the winners in 2003 and 2004, both qualified for the Main Event through satellite WSOP tournaments at the PokerStars online cardroom. And Jerry Yang, the winner in 2007, had only been playing poker for two years prior to his victory. He had won his seat at the competition at a $225 satellite tournament.
