No matter how many local tournaments and high stake contests you have won, there is one competition above them all. Winning the World Series of Poker is the most prestigious way of letting the world know that you are on top of your game. At least that specific year…

It is held annually in Las Vegas - where else? - and the tournament lasts for a bit more than a month. Texas Hold’em is the Main Event, but all varieties of poker are played; Omaha Hold’em, Seven Card Stud and Lowball, for example. It is not only “no limit” being played, but also “straight limit” and “pot limit”. More and more people are participating in the tournament and a few of those have actually won the championship twice. Johnny Moss is one of them, Johnny Chan and Doyle Brunson as well. But no one has had more success than Stu Ungar who actually won the championship three times.

It takes a $10,000 buy-in to participate in the Main Event, but if you are one of the winners in the satellite tournaments you reach the finals free of charge. It might seem like a large entry fee, but bear in mind that if you win you will leave with millions of dollars.

It has been 38 years since the WSOP was held the first time in 1970. Since 1973 there has also been television coverage of the tournaments, something that gets more and more appreciated every year.

The tournaments are held at the Binion’s Horseshoes Casino, but as from 2005 the contestants are so many that the tournaments are initially held in the conference room at Rio, which is a large casino that is situated in Las Vegas as well. It doesn’t matter what your sex, your nationality or your age is – as long as you are over 21 years old.

Since 2004, the poker player with the most collected points has received a Player of the Year Award. The Main Event isn’t included in that count and neither is the $50,000 H.O.R.S.E competition. Only events where everyone can participate are valid.

 The champion of the World Series of Poker 2007 is named Jerry Yang. He is born in ’68 and comes from California. He had only been playing poker for two years before winning, and had mostly participated in local contests. He claimed that his tournament strategy was to rise every time he sensed some weakness from another player. After winning the Heads-up against Tuan Lam, he left from the contest with $8,250,000. He donated 10% of it to the Make-A-Wish Foundation, Feed the Children, The Ronald McDonald House and Loma Linda University. He now ranks 8th in the all time money list for live tournaments.