On Poker: World Series of Poker thrives as its former rival dives

[clevfan]

10/23/2008 12:00 CDT

On Poker: World Series of Poker thrives as its former rival dives

Chuck Blount- Express-News

Much of the popularity poker currently enjoys can be traced to two significant events in 2003: the crowning of Chris Moneymaker as champion at the World Series of Poker and the television debut of the World Poker Tour.

The Moneymaker story was captured in its entirety by the ESPN cameras. The network knew it had gold in its hands when it found out Moneymaker was a simple Tennessee accountant who qualified for poker's most prestigious tournament via a $39 online qualifying tournament.

Instead of dedicating a single hour to the Main Event, as it had in previous broadcasts, ESPN dedicated seven to prolong the drama and create the Moneymaker phenomena of his $2.5 million victory.

If a guy stepping foot into a casino poker room for the first time could win poker's biggest prize, so could everybody else.

The WPT aired on the Travel Channel and brought an element of drama to poker that broke new barriers with the implementation of the hole-card cameras combined with a primetime cable television spot.

The tiny cameras took away the mystery of cards and provided commentators Mike Sexton and Vince Van Patten an opportunity to talk serious tournament strategy with the hands instead of merely speculating who had what.

Audiences responded as the WPT enjoyed some of the highest ratings on cable in its initial years in existence.

The two pioneering poker programs have since gone in opposite directions.

In 2006, the WPT was sued by a conglomeration of high-profile players (Howard Lederer, Greg Raymer, Annie Duke, Chris Ferguson, etc.) for violation of antitrust legislation. The fight centered around a series of release forms, which the WPT forced players to sign before entering an event, that jeopardized sponsorship agreements certain players had with online poker companies.

The tournament fields continue to decline annually with smaller prize pools.

After five seasons on the Travel Channel, the network ended its relationship with the WPT when it allowed its contract to expire. It didn't help that the two sides sued each other when the WPT attempted to launch a separate series (the Professional Poker Tour) on ESPN.

The WPT moved to the Game Show Network for season six, but the relationship lasted only a year. GSN is the home to the popular “High Stakes Poker” cash game show and decided against expanding its poker programming. Season seven was picked up at the last minute by Fox Sports Net.

Further signs of the decline are on Wall Street. In 2005 the WPT was estimated to be worth nearly a half billion dollars with shares trading at $25 shortly after making itself public.

Shares now trade at less than 75 cents each, and the company is in danger of being de-listed on the NASDAQ exchange because stocks have to trade at $1 or more to remain there.

The World Series of Poker is without such problems, and continues to thrive with its relationship with ESPN and Harrah's, the gaming company that owns the rights to it.

The 2008 Main Event attracted 6,844 players, the second-most in the history of the tournament, and the winner stands to collect a paycheck in excess of $9 million. The 55 bracelet events held between late May and the middle of July attracted more than 60,000 players.

In an effort to increase interest, ESPN and Harrah's agreed to play the final table of the Main Event out on Nov. 9 with the broadcast of the action set to air Nov. 11. The players remaining in the event are nicknamed “The November Nine.”

Ratings remain strong for ESPN, and the network has locked up the rights to the World Series through 2010. Pick any hour between 10 p.m. and 4 a.m. and the odds are good that an old episode is airing on one of the networks' many stations.

There's always a winner and a loser in a poker, even when it relates to the broadcasting of it.

[Minnow]

I've always wondered how much knowing their hole cards are being peeped and therefore their strategies scrutinized affects how a player might play.

[StarnetGypsy]

I do believe you're right Minnow. By doing this, people are able to see their method of play, and should they go up against them next year, will have an advantage they wouldn't normally have.