Benny Binion
Lester Ben "Benny" Binion (November 20, 1904 - December 25, 1989) was a well known American casino owner and poker enthusiast.
In January of 1949, Binion arranged for Johnny Moss and "Nick the Greek" Dandalos to play a head-to-head poker tournament which ended up being five months long, which Nick the Greek ultimately ended up losing a reported two million dollars over the five months. After the final hand, and losing millions of dollars, Nick the Greek uttered one of the most famous poker quotes of all time, "Mr. Moss, I have to let you go."
After years of arranging heads-up matches between high-stakes players, this seed of an idea grew. Binion invited six high-rollers he knew to play in a tournament in 1970. They would compete for cash at the table, after which they would vote on a winner. Johnny Moss, then 63, was voted champion by his younger competition and received a small trophy. The next year, a freeze-out format with a $10,000 buy-in was introduced, and the World Series of Poker was born.
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Bracelets have not always been awarded for winning events. In 1970, the first WSOP Champion received nothing but a silver cup and whatever cash he won during the event. From 1971-1974, according to Becky Behnen (the daughter of WSOP founder Benny Binion), the winner received an undescribed "corny trophy". In 1975, the winners received a sterling plate. The following year, 1976, the WSOP started the tradition of issuing bracelets to the event winners.
In 1980 and 1981, one did not have to win a WSOP event to win a gold bracelet. In 1980 and 1981, H.D. "Oklahoma Johny" Hale and Chip Reese received a gold bracelet for being the "Best All Around Player" at the WSOP, respectively. These bracelets, however, are not considered in the count of WSOP championship bracelets.
In 2007, Thomas Bihl became the first person to ever win a WSOP bracelet outside of Las Vegas, Nevada. Bihl won the £2,500 World Championship H.O.R.S.E. at the World Series of Poker Europe in London, England. Days later, Annette Obrestad became the youngest player to ever win a WSOP bracelet at 18 years, 364 days, also becoming the first woman to win a World Series Main Event. Harrah's Casinos, the owner of the WSOP, considers the WSOP Europe bracelet to be the same in prestige as those awarded every year in Las Vegas.
One or more players are required to make forced bets to create an initial stake for which the players will contest. The dealer shuffles the cards, cuts, and deals the appropriate number of cards to the players one at a time. Cards may be dealt either face-up or face-down, depending on the variant of poker being played. After the initial deal, the first of what may be several betting rounds begins. Between rounds, the players' hands develop in some way, often by being dealt additional cards or replacing cards previously dealt. At the end of each round, all bets are gathered into the central pot.
At any time during a betting round, if a player makes a bet, opponents are required to fold, call or raise. If one player bets and no opponents choose to call (match) the bet, the hand ends immediately, the bettor is awarded the pot, no cards are required to be shown, and the next hand begins. Players may choose to check, this is where no one makes a bet and the next card is dealt. This possibility of winning a pot without showing a hand makes bluffing possible. Bluffing is a primary feature of poker, one that distinguishes it from other vying games and from other games that make use of poker hand rankings.
At the end of the last betting round, if more than one player remains, there is a showdown, in which the players reveal their previously hidden cards and evaluate their hands. The player with the best hand according to the poker variant being played wins the pot.
