World Series of Poker
The idea of a World Series of Poker began in 1969 with an event called the Texas Gambling Reunion. It was an invitational event sponsored by Tom Moore of San Antonio, Texas, and held at the Holiday Hotel and Casino in Reno. This inaugural event was won by Crandell Addington. The set of tournaments that the World Series of Poker (WSOP) would evolve into was the brainchild of Las Vegas casino owner and poker player Benny Binion. In 1970, the first WSOP at Binion's Horseshoe took place as a series of cash games that included five-card stud, deuce to seven low-ball draw, razz, seven-card stud, and Texas hold 'em. The format for the Main Event as a freeze-out Texas hold 'em game came the next year. The winner in 1970, Johnny Moss, was elected by his peers as the first "World Champion of Poker" and received a silver cup as a prize.
2007 World Series of Poker
Also this year, KEM Plastic Playing Cards were once again used for the events, rather than Copag brand plastic playing cards, which were used during the 2005 and 2006 World Series of Poker.The $10,000 No Limit Hold'em Main Event began on July 6 with the first of four separate starting days. 6,358 players entered, 2,415 fewer than in 2006. This is the first time since 1992 that the Main Event experienced a reduction in participants. As the total number of registrants for the 2007 WSOP set a record at 54,288 with a total prize pool of $159,796,918 ($59,784,954 for the Main Event), the decrease in the number of participants in the Main Event has been attributed to a recent law that limits Internet gambling. As a result of this law, Harrah's did not allow online poker websites to directly purchase Main Event seats and offer them as prizes, if the sites conducted business with US citizens. Online entries to the Main Event that were won as prizes on Internet poker sites were a substantial contributor to the dramatic growth the Main Event seen in 2003, 2004, 2005 and 2006. The reduced field also meant a nearly one-third reduction in the Main Event's grand prize, from the record $12 million (US) in 2006 to $8.25 million.