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The Globe Poker Tour (WPT) is a series of international poker tournaments and connected television series broadcasting the final table of every single tournament. It was started in the United States by attorney/tv producer Steven Lipscomb, who served as CEO of WPT Enterprises (WPTE), the firm that controlled the Globe Poker Tour up to November 2009. In 2008, the WPT started providing bracelets to its occasion champions. Players who won a title prior to the release of the WPT Bracelet have been given 1 retroactively.
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The World Series of Poker (WSOP) tournaments, televised and watched around the globe by millions, have transformed poker and specifically Texas Hold’em Poker into a national pastime for players and a national spectator sport in the United States. And it all started so just with the arrival in Las Vegas of an itinerant Texas cowboy and expert craps shooter named Benny Binion, circa 1946.
Benny was a gambler but he knew how to hold on to his money and when the chance arose, he bought the Eldorado Club from its financially strapped owners, quickly changing the name to “Binion’s Horseshoe”.
The concept of beginning a hugely-publicized poker tournament came to him following attending a unique invitational poker tournament run by Benny’s pal, Tom Morehead of the Riverside Casino in Reno.
Benny hired the legendary and flamboyant odds maker and gambler Jimmy the Greek (Snyder) to deal with the tournament and arrange publicity. The first tournament attracted only seven players but Benny was shocked at the quantity of public focus drawn by the Greek’s astute marketing campaign.
The tournament winner, Johnny Moss, was dubbed the “First Planet Champion of Poker” and was awarded the prize of a silver cup.
The 1971 tournament was the very first in which money prizes had been awarded. The publicity put Binion’s Horseshoe “on the map”. As a outcome, Benny Binion decided to get in touch with the event “The World Series of Poker and make the tournament an annual event.
In 1973, five card stud was added to the tournament but the primary occasion was no-limit Texas Hold’em.
The quantity of players entering the tournament has grown every single year but the start off of the 21st century was when the World Series of Poker lastly blossomed into a spectacle beyond the wildest dreams of Benny Binion, who died in 1989. Benny would have looked on in disbelief as 4,780 poker players entered the 2,000 WSOP. Within the previous 5 years, participants have continued to enter the WSOP by the thousands. In reality, there were more than 23,000 players in 2005 – 839 of whom produced it to the Primary Event.
The WSOP for 2006 will have a maximum allowable participation of 8,000. Now Binion’s Horseshoe, the spot where it all started is just “Binion’s”, the name shortened by the new owners, the gaming giant “Harrah’s Entertainment”, who bought the property in 2004.
In 2005, the World Series of Poker was relocated from Binion’s to a bigger Harrah’s house, the Rio, just off the Strip on Flamingo Road since the smaller sized size of the older Binion’s would be unable to accommodate the many thousands of players and spectators. Even so, in honor of Binion’s and the celebration of the one hundred years founding of Las Vegas, the final two days of the WSOP Primary Event was held in Binion’s.
In addition to the prize money, gold bracelets have been awarded to tournament champions. Two players, Doyle “Texas Dolly” Brunson and Johnny “Oriental Express” Chan, have won ten bracelets each and every. Once more, a single must wonder if Benny Binion could ever, beyond his wildest imaginings, believe that in the 2005 WSOP Tournament, 560 players won more than 47 million dollars and the 1st prize was a stupendous seven and a half million.
What a bonanza for Harrah’s as nicely with a 6% to ten% tournament rake, ESPN coverage and key tournament sponsors, Miller Brewing and Pepsi amongst a lot of other people, licensing charges from Nintendo, Microsoft and Sony. And it all began with an imaginative cowpuncher named Benny Binion thirty-5 years ago.
Kenneth Bateman writes several articles on the topic of poker. To study far more of his poker articles, visit XLPoker.com’s Poker Area.