World Series of Poker
The World Series of Poker (WSOP) is a series of poker tournaments held annually in Las Vegas and, since 2005, sponsored by Caesars Entertainment Corporation (known as Harrah's Entertainment until 2010). It dates its origins to 1970, when Benny Binion invited seven of the best-known poker players to the Horseshoe Casino for a single tournament, with a set start and stop time, and a winner determined by a secret ballot of the seven players.
Puggy Pearson
Prior to 1949, all poker games were cash games; a player could cash out his chips and leave at any time. Pearson originated the idea of a freezeout tournament and shared his idea with fellow gambler "Nick the Greek" Dandolos in the early 1950s. Dandalos later brought the idea to legendary casino owner Benny Binion. After further urging by Pearson, Amarillo Slim, and Doyle Brunson, all of whom felt that such a tournament would create great side (cash) game action, Binion founded the World Series of Poker in 1970. Pearson participated in the first World Series of Poker that year along with Amarillo Slim, Doyle Brunson, Sailor Roberts, Crandell Addington, and Carl Cannon.