Online Poker and the Rise of Major Tournaments
THE effect of online pokerhas been immense. Since the establishment of online poker rooms in the late1990s, there has been a steady rise of players and revenue in the industry. Itis estimated that online poker revenues increased approximately 3000% in thefour years leading up to 2005. This is attributed to a number of factors the mostsignificant of which is the television coverage of poker tournaments such as theWorld Series of Poker (WSOP) and the global popularity that poker has enjoyed as aresult.
In 2003, WSOP broadcasterESPN expanded their coverage from a highlights show to include coverage of thewhole tournament (including feature tables) and the television revolution of“pocket-card cam”, where the viewers at home could now see what cards playershad.
Significantly in 2003, asatellite qualifier through Pokerstars.com and poker unknown, Chris Moneymakerwent onto to claim the biggest prize of the World Series of Poker, the MainEvent title. Moneymaker beat a field of 839 players, the largest ever at thetime and won US$2.5 million in prize money. The effect’s of Moneymaker’s winwas enormous to the poker industry. Overnight, every player began to realizethat anyone can be a poker world champion, even an online qualifier likeMoneymaker.
In the years since, the WSOPhas risen in numbers of players and prize money. The following year, 2004 saw asteep increase in players with 2,576 entries into the main event. In subsequentyears numbers of entries grew and peeked in 2006 with an amazing 8,773 enteringthe WSOP main event that year and a first prize of US$12 million.
US legislation would have an effect in subsequentyears, with the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 stoppingfinancial transaction from US financial institutions to online gambling sites(including poker sites), effectively putting a stop to many US playersplaying poker online.
While this did have followon effects for the WSOP in the subsequent year (only 6,358 entries and firstprize of US$8.25million of in 2007), the WSOP in 2008 has seen the 2ndlargest ever prize money and numbers of entries with 6,844 players in the mainevent and winner Peter Eastgate taking home US$9.11 million.
Online poker has had asignificant impact on the entire gaming industry, specifically ‘live’ pokertournaments.
Increase in WSOP Main Eventplayers and first prize since 1998:
Year | Winner | Prize (US$) | Entries |
1998 | Scotty Nguyen (USA) | 1,000,000 | 350 |
1999 | Noel Furlong (Ireland) | 1,000,000 | 393 |
2000 | Chris Ferguson (USA) | 1,500,000 | 512 |
2001 | Juan Carlos Mortensen (Ecuador) | 1,500,000 | 613 |
2002 | Robert Varkonyi (USA) | 2,000,000 | 631 |
2003 | Chris Moneymaker (USA) | 2,500,000 | 839 |
2004 | Greg Raymer (USA) | 5,000,000 | 2,576 |
2005 | Joe Hachem (Australia) | 7,500,000 | 5,619 |
2006 | Jamie Gold (USA) | 12,000,000 | 8,773 |
2007 | Jerry Yang (USA) | 8,250,000 | 6,358 |
2008 | Peter Eastgate (Denmark) | 9,152,416 | 6,844 |
