World Series of Poker History

Though the World Series of Poker made its official debut in 1970, the idea of the Horseshoe's annual tournament was actually conceived more than two decades earlier.

As legend has it, the idea for the World Series of Poker has its genesis in a 1949 high-stakes poker tournament between Nicholas 'Nick the Greek' Dandolos and Johnny Moss. Nicholas "Nick the Greek" Dandolos approached Benny Binion with an unusual request - to challenge the best in a high-stakes poker marathon. Binion agreed to set up a match between Dandolos and the legendary Johnny Moss, with the stipulation that the game would be played in public view.

The tournament was held before a public audience and lasted five months with breaks only for sleep. The two men played every form of poker imaginable. Moss ultimately won "the biggest game in town" and an estimated $2 million.

After the final hand, the Greek stood up, bowed down and uttered the now-famous words; "Mr. Moss, I have to let you go." Then went upstairs to his room to retire.

Though significant in its own way as a chapter in poker history, the five-month marathon took on added importance to Benny Binion. He noted that the public had gathered outside the casino each day to watch the game with the fervor of dedicated sports fans, and he was amazed at the attention the event had attracted.

But it wasn't until 1970 that Binion decided to re-create this excitement and stage a battle of poker giants - dubbed the "World Series Of Poker" - to determine who would be worthy of the title "World Champion." Some of the best players in the country were assembled, and Johnny Moss came out on top. The decision was democratic in that the champion was decided by popular vote.

The next year, 1971, the World Series of Poker was changed to an elimination format. The player left standing at the end with all of the chips was Johnny Moss, again World Champion. In 1972, Thomas 'Amarillo Slim' Preston won the tournament.

It was only a year later that Binion participated in the Oral History Project at the University of Nevada-Reno and discussed the World Series with interviewer Mary Ellen Glass.

"This poker game here gets us a lot of attention," he told Glass. "We had seven players last year, and this year we had 13. I look to have better than 20 next year. It's even liable to get up to be 50, might get up to be more than that." Binion then paused, and as if gazing into the future, prophesied, "It will eventually."

In the early 1980s, with the introduction of preliminary satellite competitions with lower buy-ins, Binion's prophesy came to fruition and the popularity of the World Series of Poker soared. But even Benny Binion, who passed away on Christmas Day of 1989, would have had difficulty foreseeing the enormous growth the Horseshoe's annual tournament has experienced in the past decade or so

The World Series of Poker, back in 1982, drew 52 entrants. Five years later, there were 2,141 participants, and the 2002 event attracted 7,595 entries. The prize money has increased proportionately, from $7,769,000 a decade ago to a staggering $19,599,230 in 2002.

Whereas only 12 events, mostly Texas hold'em and seven-card stud, were scheduled as recently as 1988, the 2004 World Series of Poker tournament offers 33 competitions that feature a wide variety of games.

The World Series of Poker has had its share of drama and excitement. In a story that should give every poker player hope, Other historical highlights include Jack Strauss's win, which was a comeback after having lost all but one chip of his stake early in the tournament.

Proving that it is never too late to be great again, Stu Ungar picked up his third win 16 years after his repeat, having spent many of the intervening years out of competition and addicted to cocaine.

One of the leading money winners in the World Series of Poker has been T. J. Cloutier. Over the years, he has finished in the money in over 30 WSOP poker game events. He has also won five first place the World Series Of Poker gold bracelets in various events.

In the main Championship event of Texas Hold'em, he has finished twice in second-place, and once each in third place and fifth place.

Billy Baxter, one of the other big names in poker, dominated the deuce-to-seven draw poker WSOP tournament for many years, with five first place finishes and two second place finishes.

Many other household poker names have graced the World Series of Poker over the years. Names such as Mickey Appleman, Bobby Baldwin, Doyle Brunson, Johnny Chan, Johnny Moss, and "Amarillo Slim" Preston.

On January 9, 2004, agents from the U.S. Marshalls Service, the Internal Revenue Service and Las Vegas Metropolitan Police Dept raided the Binion's Horseshoe and seized less than $1 million dollars of $1.9 million dollars owed to the Culinary Workers Union.

The Nevada Gaming Control Board also met in an Emergency session on January 10, 2004 and suspended the gaming license of Binion's Horseshoe until such time as owners Becky Binion Behnen and her husband Nick can show that they have sufficient funds to operate and cover all wagers and bills incurred by the property. On January 12, the Shoe was purchased by Harrah's Entertainment. Harrah's has announced that the 2004 World Series of Poker will take place, but its location has not been decided.

Today, the legacy Benny Binion left the poker community ranks as the oldest, largest, most prestigious, and most media-hyped gaming competition in the world, and no doubt it holds the promise of an even brighter future.

But equally important, The World Series of Poker has touched thousands of lives over the years, affording talented players the opportunity to follow their dreams, reach for the stars, and perhaps one day achieve greatness in their chosen endeavor.