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What is the World Series of Poker?

Author: Michael Maurer
Last updated: Apr 2004
Copyright © 2004 Michael Maurer
The official and up-to-date version of this answer is here.

The World Series of Poker is a yearly series of poker tournaments hosted by the Horseshoe Casino in Las Vegas. Amateur Chris Moneymaker's $2.5 million win in 2003 and Jim McManus' book "Positively Fifth Street" introduced many non-poker players to this premiere tournament series. Harrah's hosts the Official WSOP Home Page and Conjelco maintains archives for 1995 through 2000. They change the details from year to year, so while the information below gives you the general idea, be sure to check the official site for this year's particulars.

NEW WSOP 2004 Event Schedule

The following information was announced by WSOP 2004 Tournament Director Matt Savage. [Thanks to Terrence Chan for reformatting.] See also the WSOP 2004 official schedule page for information on satellites (on schedule page 4). All events start at 12 Noon unless otherwise noted on the schedule.

Event Date Buy-in Event Notes
#1 Apr 22 $500.00 Casino Employee's Limit Hold'em One Day Event
#2 Apr 23 $2,000.00 No-Limit Hold'em Two Day Event
#3 Apr 24 $1,500.00 Seven Card Stud Two Day Event
#4 Apr 25 $1,500.00 Limit Hold'em Two Day Event
#5 Apr 26 $1,500.00 Omaha Hi-Lo Split Two Day Event
#6 Apr 27 $1,500.00 Pot Limit Hold'em Two Day Event
#7 Apr 28 $1,000.00 No-Limit Hold'em with Rebuys (First Two Hours) Two Day Event
#8 Apr 29 $2,000.00 Pot Limit Omaha with Rebuys (First Two Hours) Two Day Event
#9 Apr 30 $1,500.00 No-Limit Hold'em Two Day Event
#10 May 1 $2,000.00 Seven Card Stud Hi-Lo Split Two Day Event
#11 May 2 $2,500.00 Limit Hold'em Two Day Event
#12 May 3 $2,000.00 H.O.R.S.E. (Hold'em, Omaha, Razz, Stud, Stud/ 8) Two Day Event
#13 May 4 $5,000.00 No-Limit Hold'em Two Day Event
#14 May 5 $1,500.00 Seven Card Stud Hi-Lo Split Two Day Event
#15 May 6 $2,000.00 Limit Hold'em Two Day Event
#16 May 7 $5,000.00 No-Limit Deuce to Seven Draw with Rebuys One Day Event
#17 May 7 $1,500.00 Limit Hold'em Shootout@ 2pm Two Day Event
#18 May 8 $1,500.00 No-Limit Hold'em Shootout Two Day Event
#19 May 9 $2,000.00 Omaha Hi-Lo Split Two Day Event
#20 May 9 $1,000.00 Ladies Limit Hold'em @ 2pm Two Day Event
#21 May 10 $2,000.00 Pot Limit Hold'em Two Day Event
#22 May 11 $5,000.00 Omaha Hi-Lo Split World Championship Two Day Event
#23 May 12 $1,500.00 No Limit Hold'em Two Day Event
#24 May 13 $5,000.00 Seven Card Stud World Championship Two Day Event
#25 May 14 $3,000.00 Pot Limit Hold'em Two Day Event
#26 May 15 $1,500.00 Seven Card Razz Two Day Event
#27 May 16 $1,000.00 Deuce to Seven Triple Draw with Rebuys One Day Event
#28 May 16 $1,000.00 Seniors No-Limit Hold'em @ 2pm Two Day Event
#29 May 17 $5,000.00 Limit Hold'em Two Day Event
#30 May 18 $3,000.00 No-Limit Hold'em Two Day Event
#31 May 19 $5,000.00 Pot Limit Omaha with Rebuys (First Two Hours) Two Day Event
#32 May 20 $1,500.00 A-5 Draw Lowball One Day Event
  May 21 $225/ $200 4 Super Satellites 10am-3pm-7:45pm and 11pm Win your $10,000 Seat
  May 21   Media Charity No-Limit @ 6pm Media Only
#33 May 22 $10,000.00 No Limit Hold'em World Championship Event @ 1PM 5 Full Levels 1/2 Field
  May 23   World Championship Event- Day 2 5 Full Levels 1/2 Field
  May 24   World Championship Event- Day 3 4 Full Levels
  May 25   World Championship Event- Day 4 4 Full Levels
  May 26   World Championship Event- Day 5 Play to 36
  May 27   World Championship Event- Day 6 Play to 9
  May 28   World Championship Event- Day 7 Play to 1

NEW House Fees, Dealer and Staff Tokes

House fees will be taken from the buy-in amount only. Dealer and Staff toke will be be taken from the prize pool amount. [Thanks to Terrence Chan for summarizing the fee structure.]

Total Buy-in Breakdown: Prize pool plus house fee House "Percentage" House percentage defined as juice over buy-in Dealer/staff toke deducted from prize pool
$500 $465 + $35 7.00% 7.53% 3.00%
$1,000 $940 + $60 6.00% 6.38% 3.00%
$1,500 $1420 + $80 5.00% 5.63% 3.00%
$2,000 $1900 + $100 5.00% 5.26% 3.00%
$2,500 $2375 + $125 5.00% 5.26% 3.00%
$3,000 $2850 + $150 5.00% 5.26% 3.00%
$5,000 $4800 + $200 4.00% 4.17% 2.00%
$10,000 $9600 + $400 4.00% 4.17% 2.00%