Benny Binion - Legacy

Legacy

In January 1949, Binion arranged for Johnny Moss and "Nick the Greek" Dandalos to play a head-to-head poker tournament which ended up lasting five months, with Nick the Greek ultimately losing a reported two million dollars. The 42-year-old Moss had to take breaks to sleep occasionally, during which the Greek, then 57, went over to the craps table and played. After the final hand, and losing millions of dollars, Nick the Greek uttered one of the most famous poker quotes of all time, "Mr. Moss, I have to let you go."

Benny Binion was also the owner of the 1946, 1947 and 1948 National Cutting Horse Association (NCHA) World Champion, "Nigger" (referenced in the current era of greater racial sensitivity as "Benny Binion's Gelding"). Bred by Binion, ridden and trained by George Glascock, the solid black 15 hand gelding is the only horse to capture the NCHA World Championship three years in a row.

After years of arranging heads-up matches between high-stakes players, the seed of an idea grew. Binion invited six high-rollers he knew to play in a tournament in 1970. They would compete for cash at the table, after which they would vote on a winner. Johnny Moss, then 63, was voted champion by his younger competition and received a small trophy. The next year, a freeze-out format with a $10,000 buy-in was introduced, and the World Series of Poker was born.

Binion's creation of the World Series helped the game of poker spread and become popular. He actually underestimated how popular it would become: in 1973, he dared to speculate that someday the tournament may have 50 or more entrants; the 2006 main event alone had 8773 entrants.

Binion died of heart failure at the age of 85 on December 25, 1989 in Las Vegas. Poker great "Amarillo Slim" Preston suggested as an epitaph, "He was either the gentlest bad guy or the baddest good guy you'd ever seen." He was posthumously inducted into the Poker Hall of Fame in 1990.

Benny never forgot his Texas roots and was a key player in getting the National Finals Rodeo to move to Las Vegas. He never forgot the cowboys after they arrived; he always paid the entry fees for all of the cowboys for their championship event. When the casino closed, Boyd Gaming took up the tradition that Binion started by continuing to pay all the entry fees.

Every year during the NFR there is a large rodeo stock auction called "Benny Binion's World Famous Bucking Horse and Bull Sale."