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Caesars Entertainment Corporation is the world's most geographically diversified casino-entertainment company. Since its beginning in Reno, Nevada, 75 years ago, Caesars has grown through development of new resorts, expansions and acquisitions and now operates casinos on four continents. The company's resorts operate primarily under the Caesars, Harrah's and Horseshoe brand names. Caesars also owns the World Series of Poker and the London Clubs International family of casinos. For more information, please visit www.caesars.com.
The World Series of Poker (WSOP) is a series of poker tournaments[1] held annually in Paradise, Nevada and, since 2004, sponsored by Caesars Entertainment. It dates its origins to 1970, when Benny Binion invited seven of the best-known poker players to the Horseshoe Casino for a single tournament, with a set start and stop time, and a winner determined by a secret ballot of the seven players.[2]
As of 2020, the WSOP consists of 101 events, with most major poker variants featured. However, in recent years, over half of the events have been variants of Texas hold 'em. Events traditionally take place during one day or over several consecutive days during the series in June and July. However, starting in 2008, the Main Event final table was delayed until November. The 2012 and 2016 Main Event final tables commenced in October because of the United States presidential election.[3][4] As of May 2017, the World Series of Poker has done away with the November Nine concept and instead gone back to the old format of crowning the Main Event winner in July.[5] After adopting a hybrid online format in 2020, due to the COVID-19 pandemic, the World Series of Poker announced a return to in-person play for the next series in September 2021, in Paradise, Nevada.[6][7]
The idea of a World Series of Poker began in 1969 with an event called the Texas Gamblers Reunion.[8] It was an invitational event sponsored by Tom Moore of Castle Hills, Texas, and held at the Holiday Hotel and Casino in Reno.[8] This inaugural event was won by Crandell Addington.[9] The set of tournaments that the World Series of Poker (WSOP) would evolve into was the brainchild of Las Vegas casino owner and poker player Benny Binion. In 1970, the first WSOP at Binion's Horseshoe took place as a series of cash games that included five-card stud, deuce to seven low-ball draw, razz, seven-card stud, and Texas hold 'em.[10] The format for the Main Event as a freeze-out Texas hold 'em game came the next year. The winner in 1970, Johnny Moss, was elected by his peers as the first "World Champion of Poker" and received a silver cup as a prize.[8][11]
Starting in 2005, the WSOP began the World Series of Poker Circuit, a satellite series held at Harrah's-owned properties in the United States.[15] In addition to the $10,000 buy-in tournament at each site, qualifying players became eligible for a revamped Tournament of Champions. The 2005 TOC, made up of the top twenty qualifying players at each circuit event, along with the final table from the 2005 Main Event and the winners of nine or more bracelets (Johnny Chan, Doyle Brunson, and Phil Hellmuth) would participate in the revamped TOC at Caesars Palace. Mike Matusow won the first prize of $1 million (US), and all the players at the final table were guaranteed a minimum of $25,000 for the eighth and ninth-place finishers.[16][17]
The winner of each event receives a World Series of Poker bracelet and a monetary prize based on the number of entrants and buy-in amounts. Over the years, the tournament has grown in both the number of events and in the number of participants. Each year, the WSOP culminates with the $10,000 no-limit hold'em "Main Event," which, since 2004, has attracted entrants numbering in the thousands. The victor receives a multi-million dollar cash prize and a bracelet, which has become the most coveted award a poker player can win.[33] The winner of the World Series of Poker Main Event is considered to be the World Champion of Poker.[34]
The tournament grew slowly for over a decade, reaching 52 participants in 1982. In the early 1980s, satellite tournaments were introduced, allowing people to win their way into the various events. By 1987, there were over 2,100 entrants in the entire series.[1] At the 2006 World Series of Poker, there were 45 events, covering the majority of poker variants. Participation in the Main Event peaked that year, with 8,773 players.[37]
Currently, Texas hold 'em, Omaha hold 'em and Seven-card stud and their lowball variants are played. H.O.R.S.E. has been played in the past and returned in 2006. Also, S.H.O.E. has been played in the past, and returned in 2007. Other events played in the past include Chinese poker, Five card stud, and many others. Like most tournaments, the sponsoring casino takes an entry fee (a percentage between 6% and 10%, depending on the buy-in) and distributes the rest, hence the prize money increasing with more players. In the 2005 Main Event, US$52,818,610 in prize money was distributed among 560 players, with US$7.5 million as the first prize. The 2006 Main Event, won by Jamie Gold, is the largest single poker tournament by prize pool or by entrant numbers in history; Gold pocketed US$12 million for his victory.[40] In July 2010, it was announced that the winner of the 2010 Main Event would receive just under US$9 million.[41]
There have been many memorable moments during the main events, including Jack Straus's 1982 comeback win after discovering he had one $500 chip left when he thought he was out of the tournament. The end of the 1988 main event was featured in the movie Rounders. Chris Moneymaker and Greg Raymer, the winners in 2003 and 2004, both qualified for the main event through satellite tournaments at the PokerStars online card room. Jerry Yang, the winner in 2007, had only been playing poker for two years prior to his victory. He won his seat at a $225 satellite tournament at Pechanga Resort & Casino, in California. With the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 online poker sites have been barred from purchasing entrance directly for their users.
Since its inception in 1979, the WSOP Poker Hall of Fame has honored 42 individuals.[64] Selection criteria for players include having competed against acknowledged top competition, played for high stakes, and played consistently well to gain the respect of their peers. For non-players, selection is based on positive and lasting contributions to the overall growth and success of poker.[64]
In recent years, the prize pool for the WSOP Main Event has become so large that the winner instantly becomes one of the top money winners of WSOP and even in tournament poker history. Before July 2012, the top seven players on the all-time WSOP Earnings list were Main Event champions from 2005 to 2011, among whom Jamie Gold topped those seven, he won the 2006 Main Event, which had then the biggest first prize for a single tournament, and still is the largest poker tournament by prize pool in history. However, the all-time leader is currently poker professional Daniel Negreanu, who has not won a Main Event, although he won the inaugural WSOP Asia Pacific Main Event in 2013. He is followed by professionals Antonio Esfandiari and Daniel Colman, both also yet to win a Main Event in Las Vegas.
In 1995, Barbara Enright became the only woman to make the Final Table of the World Series of Poker, finishing in fifth place.[100] She also finished in the money of the Main Event in 2005. An Ambassador of Poker League of Nations, Barbara is the first woman to win two WSOP bracelets, the first woman to win three bracelets, and the first woman to win an open event at the World Series of Poker. Barbara is also the first woman to be inducted into the Poker Hall of Fame, the Women in Poker Hall of Fame, and the Senior Poker Hall of Fame, making her the only poker player to be in all three poker halls of fame.
ESPN Classic currently airs many of the old broadcasts from the mid-1990s and beyond. Since no "pocket cam" existed, very few hole cards were actually shown to television viewers. Generally, ESPN used poker-playing actors such as Dick Van Patten, Vince Van Patten, and Gabe Kaplan, with either the tournament director (usually Jim Albrecht) or a poker professional, of which one was Phil Hellmuth, joining the team. Unlike today's coverage, ESPN featured no pre-taped interviews or profiles on the players. In addition, the commentators were generally on the casino floor itself.
Coverage would increase in 2004 and 2005 to include preliminary events from the WSOP, in addition to the "Main Event".[107][108] ESPN has expanded poker to all-new levels, especially with their coverage of the 2006 WSOP, including providing the entire final table of the 2006 Main Event via pay-per-view airing.[109] In 2008, ESPN experimented with the idea of a delayed final table. This idea presented greater sponsorship opportunities and notoriety, culminating in a recap of the Main Event and the conclusion of the 2008 Main Event final table.[110] In 2009, ESPN announced they would again move the final table to November 2009.[111] The WSOP also decided there would be no rebuy events in 2009. The decision was reached because of complaints that rebuy events provided an unfair advantage to professionals with no limitation on how much money they can spend for an event.[112] There were 57 bracelet events that year.[113] The 2010 WSOP had the same number of bracelet events as in 2009, again with no rebuy events.[114]
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