World Series of Poker Removes $10 Million Top Prize Guarantee

The 46th Annual World Series of Poker held in Las Vegas every year will no longer boast a guaranteed $10 million (approximately £6,566,000) prize to the series champion. After fielding many complaints from poker players that the final payout was too steep and the remaining payouts were too lackluster, representatives from WSOP revealed last week that 2015’s pay scheme would pay more evenly. This announcement comes after WSOP initially claimed the $10 million prize would return.

From Four Chips

Instead, the top 1,000 players will be guaranteed at least a $15,000 (approximately £9,800) payout. This guarantee depends on at least 5,000 people entering the tournament with the required $10,000 (approximately £6,500) entry fee. For the past 10 years, attendance has well surpassed that minimum. Last year, 6,683 players entered the internationally viewed event.

“The dream of life-changing money is core to the DNA of the WSOP Main Event, and we also want to make it easier to experience playing in poker’s Big Show,” said Ty Stewart, WSOP executive director. “Our players understand numbers, and 2015 now presents the best odds ever to leave the Main Event a winner.”

Martin Jacobson walked away with the $10 million prize last year. Second place winner Felix Stephensen left with $5,145,968 (approximately £3,378,000) and ninth place winner Mark Newhouse won $730,725 (approximately £480,000).

Providing WSOP has at least as many players as last year (if not more), this year’s winner stands to take home at least $8 million (approximately £5,250,000), and all players placing in the finals would get at least $1 million each. This would be a significantly higher payout for many, including the aforementioned ninth place player Mark Newhouse.

This year’s tournament will run from May 27 until July 14, and the $10,000 Main Event starts on July 5, with the nine finalists being chosen by July 14. More than 60 gold bracelet events will happen at Las Vegas’ Rio All-Suite Hotel & Casino.