The World Series Of Poker (W.S.O.P.) had it's beginnings in 1949 when Nick "The Greek" Dandolos asked Benny Binion to set up a match with the best high stakes poker players. Binion set up a marathon match between Dandalos and Johnny Moss. The two players went head to head at Binions Horseshoe Casino on Las Vegas for five months, playing every form of poker, as the public watched on. Johnny Moss ended up winning the event and an estimated $2,000,000.
The popularityof the event between Dandalos and Moss convinced Benny Binion to stage another event between the best poker players in the world. This time there would be more players. The first World Series of Poker was in 1970. Poker legends, Johnny Moss, Amarillo Slim, Brian "Sailor" Roberts, Doyle Brunson, Walter "Puggy Pearson, Crandall Addington, and Carl Cannon participated in the 1970 World Series of Poker. The winner of the initial World Series of Poker was the same as in 1949, Johnny Moss. All of the contestants voted on who was the best competitor in the event. Doyle Brunson said that they all voted for themselves and Johnny Moss got the most second place votes. The second World Series of poker would not be determined by vote it was determined by freeze-out competition (the winner would be the one who had all of the chips at the end of the competition) and Johnny Moss won again.
There were 6 players in 1971, 73 in 1980, 194 in 1990, and 839 in 2003. The prize pool grew from $33,000 in 1971 to $7,802,700 in 2003, and the grand prize money progressed from $33,000 to $2,500,000. The event and the money was growing at a steady pace each year until 2004. The 2004 World Series Of Poker had 2575 players, a prize pool of $24,214,400, and a first prize of $5,000,000. In 2005 the number of entrants in the main event was 5619, the prize pool was $52,808,610. The winner, Australian, Joseph Hachem won $7,500,000. In 2006 there were 8,773 entrants the prize pool was $82,466,200. Television producer Jamie Gold (who lead from day 4) took home the $12,000,000 first prize. Paul Wasicka took home 2nd place and $6,102,499. There seems to be no end to the growth of this event, with the second place money in this event approaching the amount of the first place money at last years event.