Shutterstock
Poker is one of the most iconic table games in the world. The popular game can be divided into three main groups (draw, stud, and community card) and has plenty of different variations in how it can be played.
One of the most widely played casino games worldwide (perhaps except for slots), it is a massive money-maker for casinos worldwide. Because of this, many tournaments take place with poker as the main game.
This article will look at the biggest of all these tournaments—the World Series of Poker. We’ll dive into exactly what this tournament is, when it started, how it works, and how it has evolved in the modern age.
What is the World Series of Poker?
The World Series of Poker (commonly known only as WSOP) is a collection of poker tournaments that attract the best players in the world. These tournaments take place over a series of days and events. The main event, however, usually occurs during the middle of the year.
With thousands of players competing, the tournaments offer insanely generous prize pools. The winner of each event also receives one of the coveted WSOP golden bracelets. Alongside this special trophy, the top dog in the competition takes home a staggering $10 million (around £9.03 million).
History of WSOP
The first-ever WSOP event took place in 1970. Organised by Benny Binion, the tournament took place at Binion’s Horseshoe (now Binion’s Gambling Hall and Hotel) in Las Vegas, USA. The original tournament winner was voted the Best Poker Player by a secret ballot taken by all players.
Initially, the main prize was simply a silver cup. In 1976, the tournament first began awarding winners the sought-after WSOP bracelet that is still used as the top prize today.
In 2004, the tournament was taken over by Caesars Entertainment (called Harrah’s at the time). Caesars continued the competition and expanded in 2005 by moving the competition around the US. In 2007, the expansion went international by visiting Europe for the first time.
Further expansions internationally included WSOP tournaments held in Africa (2010), Asia Pacific (2013), and a new international circuit (2015). The new circuit had rounds in Canada, Europe, Africa, Asia-Pacific, Latin America, and the Caribbean.
How WSOP Works
WSOP tournaments work like most other poker tournaments and require a specific buy-in to enter the contest. WSOP winner odds and the total prize pool are determined by how many players buy into a particular tournament.
The tournament begins with each player receiving the same number of chips to play with. Multiple games then take place over a series of a few days. The winner is the player who still has chips left after all the other players have gone bust.
This player takes home the top prize money and a WSOP bracelet (if the event is a bracelet event).
Regular WSOP Events
Multiple WSOP events take place each year aside from the main event.
Some of these events are categorised as bracelet events and offer the most sought-after bracelet as a prize for the winner. However, some of them don’t provide this top prize to the winner. Each event also holds a different buy-in amount ranging from $400 (about £362) to $1,000 (approximately £904) or more.
Regular WSOP events are published in a schedule by WSOP in February of each year. The schedule for the main WSOP event is also published around this time.
WSOP Main Event
The main WSOP event takes place between June and July each year. This event determines the winner of the unofficial World’s Best Poker Player title for the year.
Unlike other events, the main event has a buy-in of $10,000 (around £9,032). Players can also win their entry into the main event by participating in other WSOP events.
The Evolution of WSOP
Due to the global lockdowns of 2020, WSOP made a bold step and moved online in 2020. Since then, the tournament has held online competitions alongside in-person games each year. These have decreased slightly since 2020 but are here to stay for the tournament’s future.
In 2021, the tournament held 99 bracelet events (including the main event). Of these, 74 events were online, with just 15 taking place physically. In 2022, 78 of the 118 events were online and used official partner casinos of WSOP to facilitate play.
With 8,663 entries and a prize pool worth more than $80 million, the 2022 WSOP Main Event was the second-biggest WSOP event of all time. Only the 2006 event, which had 8,773 entries, was larger.
Conclusion
For over 50 years, the World Series of Poker has been the number-one poker tournament in the world (hence the name). With the move to online tournaments in 2020, the tournament now has more reach than ever and is set to keep growing as it attracts more and more players.
