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.
In the summer of 1949, as the story goes,
inveterate gambler 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.
During the course of the marathon, which
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. When the Greek lost
his last pot, he arose from his chair, bowed
slightly, and uttered the now-famous words,
"Mr. Moss, I have to let you go."
Dandolos then went upstairs to bed.
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 following year, the winner was
determined by a freezeout competition, with
players being systematically eliminated
until one player had all the chips. Moss
again was declared the World Champion. In
1972, when Thomas "Amarillo Slim"
Preston won the title and went on the
talk-show circuit, the WSOP began to gain a
wider following.
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 prophecy 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.
In 1982, nine years after Mr. Binion
participated in UNR's Oral History Project,
the tournament 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
tournament offers 33 competitions that
feature a wide variety of games.
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.
In 2005 the World Series of Poker will be
held for the first time outside its
long-time home in downtown Las Vegas.