World Series of Poker - Format

Format

Since 1971, all WSOP events have been tournaments with cash prizes. In 1973 a five-card stud event was added. Since then, new events have been added and removed. Since 1976, a bracelet has been awarded to the winner of every event at the annual WSOP; later on, the winners of pre-1976 events were retroactively given bracelets.

The tournament grew slowly for over a decade, reaching 52 participants in 1982. In the early 1980s, satellite tournaments were introduced, allowing people to win their way into the various events. By 1987, there were over 2,100 entrants in the entire series.

At the 2006 World Series of Poker, there were 45 events, covering the majority of poker variants. Participation in the Main Event peaked that year, with 8,773 players competing.

Currently, Texas hold 'em, Omaha hold 'em and Seven-card stud and their lowball variants are played. H.O.R.S.E. has been played in the past and returned in 2006. Also, S.H.O.E. has been played in the past, and returned in 2007. Other events played in the past include Chinese poker, Five card stud, and many others. Like most tournaments, the sponsoring casino takes an entry fee (a percentage between 6% and 10%, depending on the buy-in) and distributes the rest, hence the prize money increasing with more players. In the 2005 Main Event, US$52,818,610 in prize money was distributed among 560 players, with US$7.5 million as the first prize. The 2006 Main Event, won by Jamie Gold, is the largest single poker tournament by prize pool or by entrant numbers in history; Gold pocketed US$12 million for his victory. In July 2010, it was announced that the winner of the 2010 Main Event would receive just under US$9 million.

On June 2, 2011, the World Series of Poker and Cirque du Soleil founder Guy Laliberté announced plans for an officially sanctioned special fundraising event, known as The Big One for One Drop, starting on July 1, 2012 with a record US$1 million entry fee. 11% of the money (more precisely, $111,111 from each buy-in) went to Laliberté's charity, the One Drop Foundation, and the WSOP waived its normal 10% rake of the entry fees. At the time of the original announcement, 15 of the maximum 48 seats had been taken. By early December 2011, the field size had increased to 22, the minimum required for an official bracelet tournament. Among those who committed early to the event were Johnny Chan, Daniel Negreanu, Jonathan Duhamel, Tom Dwan, Laliberté, billionaire businessman Phil Ruffin and Erik Seidel. On April 12, 2012, the WSOP announced that 30 players had committed to the tournament, which brought the first prize to $12.3 million, exceeding the record amount won by Jamie Gold. In the end, all 48 seats were filled, resulting in a first prize of $18.3 million. Prominent poker pro Antonio Esfandiari won the event, also receiving a special platinum WSOP bracelet.