01-21-07, LearnTexasHoldem:
1978 WSOP
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H.O.R.S.E.: The Player's Championship
Bobby Baldwin
Baldwin was only 27 in 1978, in a pre-Internet whiz kid time when players under the age of 40 with any talent where virtually unheard of. But he was far from an unknown. Two years earlier, Baldwin had finished 8th in the 1976 World Series of Poker main event, the following year, in 1977, he came in 7th. Sitting at the final table with Doyle Brunson twice in a row got the poker master's attention. He invited Baldwin to write the limit Texas hold'em section of his famous poker volume Super/System, and prepared to take on Baldwin as a dangerous opponent in 1978.
A Kid From Oklahoma
It was not to be for Doyle, whose two pair lost to pocket aces when a pair on the board counterfeited him, knocking him out in the first round. Baldwin, on the other hand, lived up to his billing and found himself at the final table with a huge chip lead. A kid from Oklahoma facing five tough Texan gamblers.
Baldwin was unfazed. He wielded his big stack like the champion he knew he was, destroying the competition until only Crandall Addington, a WSOP regular, remained, with a paltry 50,000 in chips to Baldwin's $370,000. Still heads-up poker can change swiftly, three quick double ups by Addington and Baldwin would have been the one crippled.
However it was not to be. On a flop of Q 9 K, with Baldwin holding QQ and Addington looking at 99, the end was inevitable. The money went in and the set over set held up. Bobby Baldwin was the 1978 World Series of Poker Champion.
First WSOP With Structured Payouts
The 1978 World Series of Poker was unique in that it was the first WSOP with structured payouts, rather than being a winner take all event. Since it was known in poker circles that players made deals before the final table anyway to protect their investment, World Series of Poker management decided to bring it above board and pay out prize money to the top five finishers. This decision was another contributor to the eventual explosion of the popularity of the World Series of Poker, since there was now a much greater incentive to risk a $10,000 buy in and sign up. In 1978, there were 42 entrants to the main event. Just four years after the structured payout system was implemented, there were over 100, with more and more every year following.
1978 WSOP Tournaments and Winners
| Event | Winner | Prize | Entrants |
| $10,000 Championship Event | Bobby Baldwin | $210,000 | 42 |
| $10,000 2-7 Draw | Bill Baxter | $90,000 | N/A |
| $1,000 Razz | Gary Berland | $19,200 | N/A |
| $500 Seven-Card Stud | Gary Berland | $17,100 | N/A |
| $5,000 Seven-Card Stud | Doyle Brunson | $68,000 | N/A |
| $1,000 No-Limit Hold'em | Aubrey Day | $42,600 | N/A |
| $200 Women's 7-Card Stud | Terry King | $10,080 | N/A |
| $5,000 Draw High | Lakewood Louie | $21,000 | N/A |
| $1,500 No-Limit Holdem | Hans "Tuna" Lund | $46,800 | N/A |
| $1,000 Seven-Card Stud Split | David "Chip" Reese | $19,200 | N/A |
| $1,000 A-5 Draw | Henry Young | $19,200 | N/A |
WSOP Year By Year
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