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The World Series of Poker got underway last week with a bang. The 46th annual WSOP started off strong with a record breaking tournament, The Colossus, beginning on the Friday of poker action. The $565 entry fee for this tournament helped shattered previous live poker tournament records. Take a look:
○ Most Entrants (Total): 22,374
○ Largest Prize Pool (of any live poker event under $5,000 buy-in): $11,187,000
○ Largest 1st Place Prize (For a $500 buy-in event): $638,880
○ Best Single Day Attendance Ever: Saturday, May 30 Ė 12,172 entries (May 29 becomes - - 2nd-largest all-time with 10,202) (Break last-yearís record set opening weekend for Event#8 Millionaire Maker 7,977 entries).
○ Most Players To Cash: 2,241 (previous record, 2006 Main Event (873)
○ Largest Re-Entry Event: 22,374 (Breaking Event #8 from 2014 WSOP, 7,977 entries)
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The second phase resumes in November 8 (AKA my birthday!) with the final table of the Main Event. This second phase is more commonly known as the November 9. The final table will be spread out over three nights unlike previous years where the final table took two very, very, very, long nights.
While you have to pay to enter and play in poker tournaments you can watch World Series of Poker in person at the Rio for free. The entire World Series of Poker is a spectacle but the action really kicks into high gear when the Main Event begins on July 5. If youíre even remotely a fan of poker, itís worth the trip to Rio just to see what itís all about.
When the final table of the 2014 World Series of Poker main event began last November, few predicted that the quiet, unassuming Swedish professional with the small chip stack in the eighth seat would be the eventual winner.
Martin Jacobson entered the November Nine with the second shortest stack, his 14.9 million chips paling in comparison to most others at the final table, including the 38.4 million chips possessed by the chip leader, Dutch player Jorryt van Hoof. As the battle played out and competitors were eliminated one by one, Jacobson somehow managed to hang on by a thread.
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As of May 1, the Venetian will be the latest casino to disallow cash from being used to wager at the poker tables. The move comes several weeks after MGM Resorts announced it would be banning cash from the tables at all nine of its Strip poker rooms. The Wynn has since instituted the same policy. Under these new guidelines, players will be required to convert their cash to chips before the money is considered in play.
As we outlined in our previous report, the reason casinos are moving toward cashless tables is so that they can more closely track how much players are buying in for at the tables. The Bank Secrecy Act requires casinos to file a Currency Transaction Report for any player who buys in for more than $10,000 in chips. At table games such as blackjack and roulette, casinos have required that bets be placed with chips rather than cash for many years now. This makes it easy for casino personnel to track how much a player buys in for. At poker, however, the permission of players to bet with cash has made it easy for individuals to slip under the radar and conceivably go over the $10,000 threshold without the casino being aware of it.
A sign in the Venetian poker room (seen below) states that anybody purchasing $2,000 or more in chips will be required to do so themselves at the casino cage rather than using a chip runner. It is likely that players who approach the $10,000 threshold will be asked for identification, including a social security number, if they do not already have one on file.
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Christmas will be coming a bit early for poker players at the Venetian next month. Beginning May 1, the Strip's largest poker room will begin offering a $2 max rake on all poker games 24 hours a day through May 24. The normal rake at Venetian is a $4 maximum.
To the uninitiated, the rake is, basically, how poker rooms make money. Because poker players do battle with each other instead of against the house, the poker room takes a percentage of the money in each pot. In most poker rooms, the rake is 10% of the pot up to a certain amount and it is taken in $1 increments. The first dollar is taken out when the pot reaches $10, the next dollar is taken out at $20, and so on until the maximum rake is reached. The $2 maximum rake at Venetian is a 50% drop from what they usually take and players will see a nice increase in their bottom line because of it.
The 46th Annual World Series of Poker at Rio is less than four months away, and poker fanatics were given a taste of what to expect this summer with the official release of the complete schedule of events.
The festivities will kick off on Wednesday, May 27th with a casino employees event, which is traditionally the first event of the series. The final event, as always, will be the $10,000 main event which, this year, begins on July 5th and goes all the way through July 14th, at which point the final nine players will go on hiatus and return in November to play down to a winner. There are plenty of other events during the seven weeks in between that should provide something for just about everybody, including the massive Colossus tournament which is predicted to be the largest live poker tournament ever.
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The annual festival of nonstop card-playing known as the World Series of Poker has come a long way since its beginnings at Binions Horseshoe way back in 1970. That inaugural year saw the winner decided by a vote among the seven players who participated. It wasn't until the following year that a tournament format was introduced, with a whopping six players ponying up $5,000 to determine who the best poker player was. In 1972, the buy-in was raised to $10,000, which attracted eight gamblers, and since then what is known as the Main Event of the WSOP has grown by leaps and bounds. Last yearís event drew 6,683 participants.
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A few weeks ago, we told you that Yahoo!†might be preparing to take on the big boys in the online poker world. Since that time, Ultimate Poker has closed and Yahoo! has announced it will be closing its classic online games portal, including Yahoo! Poker.
Ladies and gentleman, your new World Series of Poker champion, Martin Jacobson.
The Swede came out on top in a nearly 15-hour final table played over the past two days at the Penn and Teller Theatre at Rio. Jacobson, 27, wins $10 million for his first-place finish.
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The gameís, perhaps, most popular player and a stalwart tournament director will be the two newest inductees into the Poker Hall of Fame.
A 41-person panel of existing HOF members and poker media members chose Daniel Negreanu and Jack McClelland to enter the hall. An official induction ceremony will be held at Binion's at 7:30 p.m. on November 9, a day before the final table of the World Series of Poker Main Event takes place at Rio. The festivities will take place in the Longhorn Room. Formerly known as Bennyís Bullpen, the room was home to the final table of the WSOP for the bulk of its existence.
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Whether thereís a need for another website to play online poker in Nevada isnít the question. Thatís because the Silver State is getting a new online poker website next month, whether it's wanted or needed.
HDPoker will be launching in a different manner than potential competitors, Ultimate Poker, WSOP.com and Real Gaming. HDPoker will launch with only social poker in 2014. As the website develops a following, it plans to offer real money poker in 2015.
Players are trading bluffs and deep penetrating stares on ESPNís World Series of Poker telecast, airing now through the final table of the Main Event in November.
But, what you see isnít always what you get. Televised poker often presents a rather misleading look into the world of tournament poker. In addition to some obvious differences, such as, you know, the fact that drunk who gave away all his chips in that $50 Flamingo tournament wouldnít ever play the $1 million buy-in Big One for Big Drop at the Rio, youíll find plenty of differences between whatís myth and whatís reality.