The World Series of Poker

Held annually in Las Vegas, the World Series of Poker (WSOP) began as an invitational tournament in 1970 when Benny Binion, a casino owner and well-known poker enthusiast, invited six of the best known players in the game to take part in a competition at the Horseshoe Casino.

The WSOP grew slowly at first, and it was twelve years before the competition managed to draw more than 50 competitors. As technology evolved, satellite tournaments allowed more players the opportunity to take part without the huge entry fees and by 1987 more than 2,000 people were taking part. By 2006, the amount of competitors peaked to an amazing 8,773 taking part in the event itself with many times that amount taking part in online qualification tournaments.

The first WSOP tournament saw the winner, Johnny Moss, decided by secret ballot although he came back to win it again the following year when the freezeout format came in to play. By 1973, 5 Card Stud was introduced and by 2007 there were 55 different variations of poker making up the total number of events.

No Limit Texas Hold 'Em continues to be the main event of the WSOP, although the Player of the Year Award can be won by the player accumulating the greatest number of points throughout the entire event. Winners of each event are awarded the prestigious WSOP gold bracelet as well as prize money determined by the amount of entrants to the event and the size of the buy-in.

In 1971, the prize pool comprised of $30,000. By 2006, the prize money had escalated to an astonishing $12,000,000 and is expected to be in the region of $8,500,000 in 2009.

Perhaps the greatest charm of the WSOP lies behind the fact that absolutely anybody can play in it. Since the internet revolution saw satellite games join poker players together from all over the world, the lure of seats at the main event has seen millions of budding enthusiast take their chances in the thousands of qualifiers available.

Alternatively, there's always the option of paying the full buy-in price for the main event although the current mark of $10,000 won't be affordable to everybody. Nonetheless, the last amateur to win the WSOP was Joseph Hachem in 2005 who entered the finals by paying the full fee.

The reigning WSOP Champion is Peter Eastgate, who at 22 years old became the youngest ever player to win the event.