Difference Between WSOP and WPT

WSOP and WPT are a series of poker tournaments held for a worldwide audience. Those who can afford the buy-in range depending on either of the tournaments can participate in these poker contests.

As it’s poker, there’s always a major chance to lose all your cash. Those playing should always keep this in mind.

WSOP vs WPT

The main difference between WSOP and WPT is that while WSOP happens at selected times of the year, the WPT tournament series takes place throughout the year in a fixed time and conditioned manner. WPT started much later than the WSOP, making it a newer and slightly cheaper form of poker tournaments.

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WSOP stands for “World Series of Poker”. This tournament series takes place in Las Vegas. This was introduced in the year 1970 by Benny Binion, who invited the then longstanding best poker players in the US at the Horseshoe Casino, marking the beginning of the first-ever World Series of Poker.

WPT stands for “World Poker Tour”. This is a tournament series that takes place throughout the year. It was started in the year 2002 by Steven Lipscomb, who was a TV producer and CEO of WPT Entertainments. WPT E. was the firm that was in control of the WPTs till 2004.

Comparison Table Between WSOP and WPT

Parameters of ComparisonWSOPWPT
Year of Commencement19702002
Titles PresentedWorld Champion of Poker.Main Tour Champion of the World Poker Tour.
PrizeWSOP bracelet and multi- million dollar cash.Membership to the WPT championship club.
Introduced byBenny BinionSteven Lipscomb
TimeDuring a part of the year.Throughout the year.

What is WSOP?

The World Series of Poker is a series of poker tournaments centered around Las Vegas. Introduced by Benny Binion in 1970, the first-ever match happened between seven of the best poker layers in the US.

WSOP welcomes anyone who can afford a buy-in in the range. But there are also two other ways to enter.

One way is to win a seat in a lower set of tournaments that has a smaller price range. Another way to enter is to win an online or card room tournament thereby acquiring a free seat in the tournament.

It started as a single tournament, timed between a fixed start and stop time. The winner in that first tournament was declared by a secret ballot of the competing players.

The winner of that match was Johnny Moss, who eventually was elected by the other players as the World Champion of Poker and he also received a silver cup in the name of the prize.

This gave way for the title “World Champion of Poker” and he became the first-ever World Champion of Poker.

In the year 20024, Harrah’s Entertainment purchased the WSOP from Binion and the tournaments that commenced from 2005 onwards were held in the Harrah’s owned Rio Hotel and Casino.

After the initial tournament that had only one match, the tournament has expanded, both in terms of participants and the number of events.

The Main Event that eventually decides the winner of the title “World Champion of Poker” is an all-around of the World Series of Poker with a grand amount no limit hold ‘em.

This is considered the biggest event of the WSOP.

What is WPT?

The World Poker Tour takes place throughout the year. Since its beginning, it has been aired through television by Steven Lipscomb who a TV producer.

WPT welcomes players from all walks of life, provided they can afford the buy-in range. Free seats could be won through online or card room tournaments.

Those winning free seats in such a manner, it would be advisable to start playing early as the contestants have to accumulate points over 3 – 4 months of weekly tournaments.

The WPT is associated with a TV series broadcasting the tournament series final table game.

In the year 2009, in November, Party Gaming took over WPT for $12.3 million. And in the year 2011, Party Gaming merged with Bwin to form the Bwin- Party Digital Entertainment.

In December 2014, the Bwin- Party Digital Entertainment brought the WPT into an alliance with Ourgame.

By the time it was 2015, in June, Bwin- Party Digital Entertainment sold WPT to Ourgame International Holdings Limited for $35 million.

In 2021, the World Poker Tour was eventually sold off to Element Partners for an amount of $105 million.

Main Differences Between WSOP and WPT

  1. While WSOP takes place during a period in a year, WPT is held throughout an entire year.
  2. Even though the starting buy-in is higher for WPT, the buy-in range is smaller for WPT when in comparison to the range of WSOP .
  3. WPT has been aired on television since the time it was initiated, thanks to Lipscomb and his TV company, whereas, it took time for the WSOP to be aired worldwide.
  4. While the winner of the WSOP is awarded a bracelet of great value, having about 356 white diamonds and double the number of black diamonds and 194 rubies, giving the bracelet an almost value of $500,000, along with this the winner gets a handsome amount of cash prize. The winner of WPT is awarded a membership to the WPT Championship Club along with a cash prize.
  5. While WSOP started non-officially in 1970 and a proper tournament started in the early 2000s, WPT, from the beginning itself was the official beginning of the tournament.

Conclusion

Both the WSOP and WPT are tournaments that may have a great financial burden on the players.

As there is no certainty that a player can always win, no matter how long they have remained the champion.

Winning these tournaments cannot be considered easy as they are specifically designed in such a manner to let the players show their true potential in poker.

Both these tournaments are crafted to test the players who are all professionals and are always broadcast on TV.

No player has the guarantee that he/she will win because many professional players have continuously lost all their cash in many series of tournaments.

Both WSOP and WPT have options to allow commoners to enter the tournament through online means.

Only that the players need to have an accumulated amount of points to reach towards the end of the series.

References

  1. https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/jnaa28&section=24
  2. http://omaha.com/content/tncms/assets/v3/eedition/6/92/69200eb2-edc7-5ccc-b139-944d398a7fe1/538adf0516532.pdf.pdf
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