What Is 1st World Series of Poker

Overview

The first World Series of Poker (WSOP) marked the beginning of what would become the most prestigious poker tournament series in the world. Held in 1970 at Binion's Horseshoe Casino in downtown Las Vegas, the event was conceived by Benny Binion as a way to crown a definitive poker champion through a gathering of elite players.

The tournament was not a mass-participation event like modern WSOP main events. Instead, it featured a small, invitation-only field, emphasizing exclusivity and high-stakes competition. The format was experimental and evolved over the course of the week-long freeze-out.

• Year: The inaugural WSOP was held in 1970, establishing an annual tradition that continues today.
• Location: The event took place at Binion's Horseshoe Casino in Las Vegas, Nevada, the birthplace of the WSOP.
• Buy-in: The main event had a $10,000 no-limit Texas Hold'em buy-in, setting a standard for high-stakes play.
• Participants: Only five invited players took part, including poker legends like Johnny Moss and Doyle Brunson.
• Winner selection: Johnny Moss was chosen as champion by peer vote after outlasting opponents in a marathon session.

How It Works

The 1970 WSOP introduced a format that was more about endurance and psychological stamina than structured elimination. Unlike today’s timed tournaments, the first event was a freeze-out that continued until one player remained.

• Format:Freeze-out tournament with no re-buys; players stayed in until they lost all chips or won.
• Duration: The main event lasted five days, with continuous play until a winner emerged.
• Invitations: Participation was by invitation only, limited to recognized poker experts of the era.
• Blind structure: Blinds increased at irregular intervals, determined by the dealer or house, not a fixed schedule.
• Winner determination: After others folded or were eliminated, remaining players voted Johnny Moss as champion.
• Prize: There was no official prize pool; the winner received bragging rights and a trophy.

Comparison at a Glance

Below is a comparison of the 1970 WSOP main event and the modern WSOP main event:

The evolution from a small, invitation-based vote to a global, structured tournament with tens of thousands of participants highlights the growth of poker as a competitive sport. The 1970 format laid the groundwork for modern rules, including structured blinds and elimination play, which were formalized in later years.

Why It Matters

The first WSOP was a foundational moment in poker history, transforming the game from backroom gambling to a recognized competitive event. Its legacy includes the creation of standardized rules, the rise of televised poker, and the professionalization of the game.

• Legacy: The 1970 event established the WSOP as an annual tradition, now spanning over 50 years.
• Media impact: It paved the way for poker broadcasts and the 2003 poker boom fueled by Chris Moneymaker’s win.
• Global reach: What began as a local event now attracts players from over 100 countries.
• Economic impact: The WSOP generates hundreds of millions in revenue annually for Las Vegas and online platforms.
• Cultural shift: It helped normalize poker as a skill-based game, influencing legal and social perceptions.
• Player fame: Winners like Doyle Brunson and Johnny Moss became legends of the game, inspiring future generations.

Today, the WSOP features dozens of events and awards coveted gold bracelets, but the 1970 tournament remains the cornerstone of its history, symbolizing the transition of poker into mainstream legitimacy.