The World Series of Poker, the first major poker tournament, is the highest profile poker tournament in the world. With a buy-in fee of $10,000, the World Series of Poker attracts the finest players in the game.
From Small Beginnings…
The World Series of Poker was started by Benny Binion in 1970 as a small, invitation-only tournament. The first world champion was Johnny Moss, who was awarded a silver cup for his achievement. The subsequent year, a cash prize was instated, and again Johnny Moss was the victor. Throughout the 1970s, the World Series of Poker continued to grow in size, with many additions and changes to the games being played.
…To the Largest Poker Tournament on the Planet
In 2004, World Poker champion Greg Raymer took home $5 million as his prize. The number of participants has continued to double year after year; it is expected that many players will compete in 2014. The main event in the World Series of Poker tournament is a $10,000 buy-in game of Texas Hold `Em, at no limit. The total prize money for the 2014 tournament is expected to be more than $10 million. In addition to the monetary prize, winners are awarded a gold bracelet, and their picture is placed on the Gallery of Champions in the Horseshoe Casino.
For years, the championship was played at Binion’s Horseshoe, but in 2004, Binion was bought out by Harrah’s Entertainment. The 2005 championships will be divided between Harrah’s Rio Casino, just off the Vegas Strip, and with the final two days at the Horseshoe.