Defending Champ Moneymaker Out Of World Series Of Poker
Posted: 11:56 am PDT May 24, 2004
LAS VEGAS -- The best poker player in the world quickly does
the math and doesn't like his odds at this week's World Series of
Poker. Thanks to a poker craze created by TV, the Internet and last
year's remarkable storybook victory by a young unknown, a
staggering 2,576 people are competing this time for a record $5
million first prize. "When I started playing in 1987, I had a vision that if you
became one of the top players you could expect to win the
championship," said Howard Lederer, 40, a man with a lead-piercing
stare and a number-crunching mind that have led others to regard
him as the best in the game. "Even if I'm the favorite, I'm still
200-to-1." The days of several hundred pros and a smattering of amateurs
competing in the grandest of poker events are over. Everybody from
"Spider-Man" actor Tobey Maguire to a former Oklahoma beauty
queen was betting on being crowned the next poker king on Friday in
the 35th annual World Series of Poker at Binion's Horseshoe Hotel &
Casino. "It's Everyman's tournament," said World Series co-director
Matt Savage. Last year, 839 men and women played in the No-Limit Texas
Hold'Em event, in which players are dealt two cards each and make
the best poker hand they can using those plus five additional
common cards that are turned face up on the table. An aptly named
accountant from Spring Hill, Tenn., Chris Moneymaker, won the top
prize of $2.5 million. Moneymaker was considered "Dead Money" in poker circles,
someone destined to lose early. Instead, his Cinderella story is
credited with transforming the game. "He had the single biggest impact on poker history. Period,"
said Dan Goldman, vice president of marketing for PokerStars.com,
an Internet poker site. Moneymaker advanced to the finals after paying $40 in a
qualifying Internet event. For those who do not get lucky in the
satellite tournaments on the Internet or at Binion's leading up to
the World Series, the buy-in fee is $10,000. Since his astonishing victory, the 28-year-old Moneymaker has
become a poker celebrity. His face appears in poker magazines and
people ask for autographs. Lederer also points to the Internet in creating the groundswell
of interest in poker. He said it helps that people like Moneymaker
have successfully jumped from the Internet to "brick-and-mortar"
tournaments. Poker player Andy Bloch, a 34-year-old Massachusetts Institute
of Technology and Harvard Law School graduate, believes there is
another ingredient: "Two letters: TV. It's a great game for
television." ESPN covered the finals in 2003 and has been replaying
Moneymaker's performance again and again. This year the network
plans to air 22 hours of coverage. Other networks also have capitalized on the craze. The Travel
Channel offers "World Poker Tour," and Bravo's "Celebrity Poker
Showdown" has everyone playing along with their favorite stars. Forget taking a job with The Donald or surviving weeks in the
jungle for a paltry $1 million. The potential stakes at the World
Series dwarf those of other popular reality shows, with the prize
money for all the games in the tournament surpassing $41 million,
compared with $22 million a year ago. Even second place in the
finals is a whopping $3.5 million. The World Series of Poker has come a long way since cowboy
gambler Benny Binion began a poker tournament to crown the world's
best player and winner Johnny Moss took home $30,000 in 1971. Today the World Series comprises more than 30 events that
involve different variations of poker, such as pot-limit Omaha and
seven-card stud. Those high-stakes games wrapped up last week before the
much-anticipated No-Limit Texas Hold'Em finals began Saturday. In no-limit betting, a player can risk all his chips with every
turn of a card, guaranteeing high-stakes action and big-time
losers. And another person's misery makes for great reality TV. On Monday, hundreds were scrapping at Binion's, trying to win
with a combination of skill, psychology and other tactics that
include wearing impenetrably dark sunglasses. "No matter how good you are, you have to get lucky," said
Chris "Jesus" Ferguson, who holds a Ph.D. in computer science
from the University of California at Los Angeles and won the 2000
World Series title. Moneymaker found that out after the event kicked off Saturday.
He lasted only three hours before losing his stack of chips to an
opponent who landed one of only two cards that could have beat him. "You have to catch those breaks to win tournaments," he said.
Copyright 2004 by KTVU.com. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.












Tahoe Days, Reno Nights
Access The Diamond Certified Directory
Bay Area Crime Reports
Healthy Snacks That Control Hunger
Earthquake Reports
Celebrity Gossip
The 15 Biggest Tech Flops



