World Series of Poker

The World Series of Poker is one of the most prestigious poker tournaments in the world. First played in 1970, the World Series of Poker has grown in popularity ever since. In 2004, the final Championship WSOP event, no limit Texas Hold'em, had 2,576 entries and a record setting first place prize of $5 million.

The 2005 World Series of Poker will be the 36th annual World Series of Poker tournament. Over 6,000 poker players are expected to participate in the WSOP Championship tournament (for a complete WSOP schedule, see World Series Poker Schedule). The total prize pool for the WSOP Championship will likely exceed $60 million, with an estimated first place prize over $8 million.

The venue for the World Series of Poker is changing. The WSOP tournaments have always taken place at Binion's Horseshoe Casino in Las Vegas, Nevada. Harrah's has taken over the World Series of Poker and will be holding the WSOP tournaments at the Rio Las Vegas (although the final two days of the Championship tournament will be held at Binion's for 2005).

The World Series of Poker draws many of the top poker pros, but it is not their exclusive domain. Players come from all walks of life and most of the poker players are amateurs. The 2004 World Series of Poker saw many of those amateurs beating the pros. The winner of the WSOP championship event was a patent attorney by the name of Greg “Fossilman” Raymer. The players are also getting younger. More than a few 2004 WSOP tournaments were won by players in their twenties. You can see all of the 2004 World Series of Poker stories and results at 2004 World Series of Poker.

The World Series of Poker actually consists of a number of poker tournaments of various poker games including Texas Hold'em, Omaha, Razz, and Stud Poker. There are also Lowball and Hi-Low split poker games. The 2005 World Series of Poker has 45 individual poker tournaments which begin on June 2 and end with the final day of the World Championship Event on July 15.

The winner of each World Series of Poker tournament event is awarded a gold bracelet (which many players value more than the cash prize). The cash prizes are substantial typically ranging in the low to mid six figures with the first place prize for last year's Championship event setting a new record at $5 million. Poker tournament buy-ins generally range from $1,000 to $5,000 with the Championship tournament having a buy-in of $10,000. Players can also get into the Championship tournament by winning World Series of Poker satellite tournaments.

Harrahs has also started the World Series of Poker Tournament Circuit. The circuit is comprised of various poker tournaments to be held at different Harrahs casino properties nationwide. Poker tournament players will earn points toward an invitation to the World Series of Poker Tournament of Champions which will be held shortly after the conclusion of the regular WSOP tournaments.

Many of the World Series of Poker tournament final tables are taped and televised by ESPN. At the 2004 WSOP, ESPN taped thirteen tournaments to create 22 one hour shows. For more about the ESPN World Series of Poker television shows see WSOP ESPN Poker.

Source: Gambling Poker