The World Series of Poker (WSOP) Main Event numbers are significantly lower than last year's, and, naturally, all signs point to the U.S. prohibition of online gambling.
According to WSOP figures, this year's Main Event, now on day three, drew 6,358 entrants, down about 27 percent from last year's record turnout of 8,773. Last year's top prize of $12 million for the winner dwarfs this year's predicted $8.25 million prize; though the Main Event winnings derive from an impressive $159.7 million prize pool.
The October enactment of the Unlawful Internet Gambling Enforcement Act (UIGEA) effectively shut down the U.S. online gambling market, which, at the time, comprised nearly three-quarters of the world's market. Major operators were forced to cease doing business with U.S. customers, mostly for fear of facing indictment from the U.S. government. A handful of sites, however, refused to bow out.
After the law was passed, the WSOP decided to revise its rules for entry regarding online gambling site qualifiers. The new rules stated that the WSOP could not accept registrations directly from online gambling sites that accepted bets from the United States.
So, companies like PokerStars and Full Tilt Poker have worked around that rule by depositing customers' winnings (usually between $10,000 and $12,000) into their accounts and leaving it up to them to register for the WSOP.
Jeff Haney of the Las Vegas Sun blames the numbers on the workarounds.
"Consider what that means to the guy in Dubuque, Iowa, who won a World Series Main Event satellite online," writes Haney. "He has to inform his wife that he's going to take $12,000 in cash from his poker account (prize pools usually include some extra expense money), leave her with the kids in the middle of the summer and disappear to Las Vegas for a couple of weeks. Tough sell, huh?"
Haney makes an excellent point, one that WSOP Communications Director Gary Thompson acknowledges.
"There was clearly an impact, though it's impossible for us to accurately measure the scope," Thompson said. "Some observers have estimated that anywhere from 60 to 80 percent of U.S. residents who won satellite tournaments online opted to take the money rather than the seat. If you consider that the two largest sites catering to U.S. residents ran an estimated 3,000 satellites, those numbers would equate to a potential 1,800 to 2,400 players who may not have shown up due to UIGEA."
All told, the WSOP brought in a record a record 54,288 registrants for a total prize pool of more than $159 million, according to WSOP statistics. And while only one player can win the estimated $8.25 million, 621 others will still have a chance at around $20,000 each.