Online Poker Law Results in WSOP Entrants Decline and Smaller Prize Pool

This year's World Series of Poker (WSOP) participants stand a chance at winning a cool $7.7 mil.  That's hardly chicken scratch.  But it also marks the first time since 1992 that the number of entrants at the $10,000 buy-in main event has decreased, and what a dramatic decrease it is over last year.

8,773 took part in last year's World Series of Poker compared to 5,200 this year.

What's to blame for the dramatic step backwards?

The Unlawful Internet Gambling Enforcement Act (UIGEA) which essentially makes it illegal for banks to allow online poker transactions via credit cards is the primary culprit.  Worse was Harrah's decision to stop allowing online poker rooms to advertise at the main event. 

The pain will likely be felt most with exhibit space sales whereas nearly all of it was boosted by the Internet poker rooms this year for a cool million a pop.  This year, there will be no online poker rooms presented and only a few other companies outside the Cybersphere were anticipated to fork over that type of cash.

"The WSOP is one of the few events we would not think twice about paying a million dollars to exhibit," said a spokesperson for Sportsbook.com Poker last year.  "We get that money back in just a few days and the exhibit goes through one month."

Tournament commissioner Jeffrey Pollack said organizers were focused on making the tournament better, not necessarily bigger.

"Whether it's 4,000, 6,000, 8,000, or 10,000, this will still be the biggest, richest, most prestigious poker tournament in the world," Pollack said. "Whoever wins will walk away a multimillionaire, lives will be changed and some great poker will be played."