The World Series of Poker: Your FAQs Answered

The World Series of Poker: Your FAQs Answered

The World Series of Poker (WSOP) is the game’s pinnacle – the event every poker player wants to star in.

The festival of poker, held annually at the Rio Casino in Las Vegas, is attended every year by greats like Negreanu, Hellmuth and Ivey, all of whom look to add another bracelet to their already impressive collection.

The 51st WSOP was scheduled to start on May 26, however the coronavirus pandemic has halted preparations in their tracks, causing organizers to postpone the event – a decision supported by players.

Organizers now aim to run the tournament in the fall, although the exact dates are yet to be confirmed.

We know that when it comes to WSOP, a lot of people have a lot of questions. That’s why we we’ve created this handy blog post, to answer the ones you’re asking most. So, take a look through the answers below and see if your WSOP-related query can be answered.

How does the WSOP work?

The World Series of Poker is a series of 74 events, each with different buy-ins and poker formats. Events are mainly held at the Rio Casino, Las Vegas, although there are a few held online.

Essentially, it is a festival of poker, with everyone’s tastes taken into account. Each event follows tournament format, with every player starting with the same number of chips.

The winner is the person left standing at the end. Those winning any WSOP event will not only receive a prize but will also get a coveted WSOP bracelet as well.

How much does it cost to get into the World Series of Poker?

If you want to enter the Main Event, you’ll have to part with a cool $10,000. Other tournaments have considerably lower buy-ins, with the lowest being $400.

If you want to find the biggest buy-in, head to the Big One for One Drop event, which will cost you $1,000,000 to enter.

Remember that some events also have rebuys, so you can get back into the action if you lose – for a price, of course.

What is the buy-in for WSOP 2020?

The World Series of Poker isn’t just one event, but instead a large number of tournaments, each with their own individual buy-ins.

The Main Event, which is the highlight of the entire WSOP festival, has a buy-in of $10,000 though, with no re-buys allowed.

Those with more modest budgets will be able to find other tournaments too, with the lowest buy-in for a tournament usually being $400.

It is also possible to qualify for some events via online satellite tournaments, some of which can cost just a few dollars to enter.

When is the WSOP Main Event 2020?

Initially, the WSOP Main Event was scheduled to start on July 1, however it has now been postponed, with no definite start date yet arranged.

WSOP organizers aim to start the tournament sometime in the fall though. It is usually the case that the Main Event is one of the final events on the schedule.

Who is the richest poker player in the world?

Sam Farha and Phil Ivey are tied for the title of richest poker player, as they’re both thought to be worth around $100 million.

Ivey’s fortune has come from poker winnings and his interest in the company Tiltware.

Farha isn’t quite as dominant as Ivey at the poker table, however he’s managed to create his wealth through side projects, such as books and being the spokesperson for Harrah’s Las Vegas. 

Who won WSOP 2019?

The Main Event of WSOP 2019 was won by Hossein Ensan, who scooped a prize of $10 million – the largest prize offered since the 2014 event. He also won his first WSOP bracelet, which is given to all winners of a WSOP event.

The Iranian-German player started the final table with over a third of the chips and secured the title by eliminating Dario Sammartino in a thrilling final hand, which saw Sammartino fail to hit his flush draw on the river.

Can anyone enter the World Series of Poker?

Yes, absolutely anyone can enter the World Series of Poker, providing they are at least 21 years old and can afford the buy-in.

This is what makes it so exciting. The final table could be made up of total novices or big-name poker pros – anything could happen!

The cheapest way for an amateur to gain entry is to win one of the many WSOP satellite tournaments.

How much is a World Series of Poker bracelet worth?

WSOP bracelets certainly aren’t cheap. They’re generally made from gold and encrusted with precious stones.

It is unknown how much these bracelets cost to make; however, Main Event champion Peter Eastgate sold his bracelet for $147,500 on eBay in 2010 and donated the money to UNICEF.

Many players simply don’t put a monetary value to their bracelet though – to them, they are priceless.

Who is the best poker player of all time?

This entirely depends on your point of view. Some would say players from the 70s and 80s, such as Johnny Moss and Stu Ungar, are the best, while others look at more modern players.

Phil Hellmuth has the largest collection of WSOP bracelets, as he has won a massive 15 tournaments.

Then in terms of overall winnings, Justin Bonomo has won more than any other player, thanks mainly to his win in the 2018 WSOP $1 Million Big One for One Drop game.

Where is the WSOP held?

The main tournament is held at the Rio All-Suite Hotel & Casino, which is just off the Las Vegas Strip. Some WSOP events are held online though, meaning it is possible to win an event from the comfort of your own home.

Who has the most WSOP bracelets?

Phil Hellmuth holds the record for the most WSOP bracelets, as he amazingly has 15 of them.

The Poker Brat, as he’s known, won the Main Event once, back in 1989. His most recent bracelet win was in the 2018 $5,000 No Limit Hold’em tournament.

Doyle Brunson, Johnny Chan and Phil Ivey all tie for second place, with 10 WSOP bracelets each.

How much money does the WSOP winner get?

The prize for each tournament changes depending on how many people enter the event. Last year’s Main Event winner Hossein Ensan took home $10 million.

Who has won the most WSOP Main Events?

Two players are tied for the most WSOP Main Event wins – Johnny Moss and Stu Ungar. Both have won the event three times.

Johnny Moss won the first two WSOP events ever held, however these were different, as he was voted the winner by peers. Since then, the winner has been decided by who wins the tournament.

Who has won the most money in poker?

The highest-earing player in all tournaments is Justin Bonomo, who has won a massive $43 million is his tournament career.

He is followed by Daniel Negreanu and Erik Seidel. This doesn’t take into account money won playing in cash games behind closed doors, though.

How do poker satellites work?

Satellites are a great way to gain entry into an expensive tournament.

Imagine you wanted to enter the Main Event but couldn’t afford $10,000. You could instead spend $100 on a satellite tournament, with the winner of the satellite getting entry into the Main Event.

Most satellite tournaments take place online and it’s even possible to gain entry into big tournaments with a stake of just a couple of dollars.

How do you win seats in the WSOP?

To win a seat at the WSOP, you’ll have to enter a satellite tournament. These are held at various different online poker sites.

If you can win the satellite, you will gain entry into the specified WSOP event. The only other way to get a seat is to save your money and purchase a seat, which is what the majority of players do.

How much do poker players at the WSOP final table get paid to wear sponsor patches?

This really depends on how well-known they are. Most professional poker players will have some kind of endorsement, and the largest of these can be worth hundreds of thousands of dollars.

Although it hasn’t been confirmed, Canada’s Daniel Negreanu is likely to be the player making the most from sponsorship, as he is the face of PokerStars and widely regarded as the most famous poker player in the world.

How many tables are in the WSOP?

This is dictated by the number of players taking part in the tournament.

The beginning of the Main Event is generally staggered over the first three days though, as it would be exceptionally difficult to get nearly 8,000 people playing poker at the same time.

Nine people are usually sat at one table in the Main Event, although people are moved regularly from table to table, in order to balance the tables properly.

What is the difference between a WSOP bracelet and winning the WSOP Main Event?

Every single person winning a WSOP event gets a bracelet, meaning that many bracelets are handed out every year.

The winner of the Main Event also gets a bracelet, as well as an absolutely massive cash prize.

Many bracelets are handed out, but there’s only one Main Event winner every year.

Who makes the WSOP bracelets?

Different jewelers have made the WSOP bracelets through the festival’s history.

The 2018 Main Event bracelet was created by Jostens and contained nearly 1,000 diamonds, as well as 194 rubies. Other companies who have created bracelets in the past include Corum and Frederick Goldman, Inc.

What do WSOP dealers make?

You may be surprised to find that the hourly rate for a WSOP dealer is exceptionally low, as they only make $6.85 p/h.

They top up their earnings with tips though, plus the dealers get to share the toke (the amount of money removed from a prize pool specifically to give to the dealers).

Dealers in the Main Event typically earn around $1,100 in toke payments.

What time is the WSOP on ESPN? Where can I watch it?

The WSOP Main Event will be broadcast every single day by ESPN. Coverage will typically start in the evening and then can continue to the early hours of the morning.

The majority of the coverage will be on ESPN2, however ESPN will broadcast the final table, as well as a few other days. PokerGO will broadcast various events online.

Are WSOP winnings taxed?

This really depends where you are living, so you should check your local laws.

US players can pay up to 50% in tax on their winnings, while those from the UK will not pay any tax at all.

This is why many professional poker players live in countries with low or no taxation on winnings.

How much money do you win in the World Series of Poker?

This really depends on the tournament you play in.

The winner of the WSOP Main Event will win millions of dollars. The biggest prize is given to the winner of the Big One for One Drop tournament though, which costs $1 million to enter.

Antonio Esfandiari won the biggest prize ever when he won the Big One for One Drop in 2012 and took home a massive $18.35 million.

Sources:
https://en.wikipedia.org/wiki/World_Series_of_Poker
https://www.wsop.com/
https://philhellmuth.com/
https://www.globenewswire.com/news-release/2018/07/16/1537823/0/en/Jostens-Creates-2018-World-Series-of-Poker-Championship-Bracelet.html
https://www.onedrop.org/en/events/the-big-one-for-one-drop/
http://www.espn.com/poker/story/_/id/26006571/2019-world-series-poker-schedule
https://www.theguardian.com/sport/2018/jul/15/john-cynn-world-series-of-poker-texas-hold-em-winner
http://www.espn.co.uk/poker/story/_/id/23979504/2018-world-series-poker-peter-eastgate-forgotten-wsop-main-event-champion-why-happy-living-simple-life
https://www.caesars.com/rio-las-vegas/casino/poker#.XNKmg45KhhE