World series of poker

 
For poker enthusiasts the world over there is no more exciting time than the World Series of Poker. Made up of more than 50 events, this series is the largest tournament amalgamation in existence and is held annually in the United States, specifically in Las Vegas, Nevada. Held annually and culminating in the massive, no-limit Main Event that requires a $10,000 buy-in, the World Series of Poker sees thousands of players competing for a multi-million dollar cash prize.

WSOP events since 1971 have featured these cash prizes, though not every year has been identical to the last. 2006, for example, saw a vast range of variations on standard Hold'Em poker over a series of 45 separate events. At the moment most games consist of Omaha Hold'Em and Texas Hold'Em poker, not to mention Seven-card Stud. Numerous variations for each of these games may also be played.

Participation in the World Series of Poker has exploded in recent years. In 2000, for example, there were over 4,500 players spread across the events. By 2005 that number had grown by more than five times, drawing in players from everywhere in the world.

The Main Event alone is telling of the world wide interest in the series. There were 840 players in 2003. That number rose substantially by 2006, where players numbered over ten times larger than 2003. This was probably prompted by the "Moneymaker Effect", coined in honor of a rookie named Chris Moneymaker who managed to win the entire Main Event after barely qualifying in a prior satellite tournament.

Growth can also be attributed to the World Series of Poker being aired on ESPN. And the World Poker Tour, another well-known tournament series, helped boost numbers by airing on the Travel Channel. And the recent upsurge of popularity in online poker has helped.

As with most tournaments, the casino sponsoring WSOP gathers an entry fee to recoup their loses – typically between 6 percent and 10 percent, depending on the size of the buy-in – and distributes the rest among the tables. The prize money, consequently, is higher with more players.