Harrahs takes in massive revenue from WSOP Main Event

The math is very clear and certainly no secret but for some reason, it’s not really talked about much in the media. Bottom line earnings for Harrah’s just in entry fees from the Main Event? Over four million dollars - $4,106,400 to be exact, from just one event of many that make up the World Series of Poker.

Even though Harrah’s just announced a loss in earnings for this past fiscal quarter, there’s no question that WSOP revenue is significant for them when you factor in the licensing, merchandise sales, corporate sponsorships, and of course, the entry fees. While it’s clear that Harrah’s has taken the brand to new levels since buying the rights to the WSOP from Binions, there are many who say that they should do more for the players that cash in these events. Their primary argument? That the players ARE the show and that the WSOP is simply the conduit.

It’s long been a topic of debate among professional tournament players that the hosts of major poker events should add money to the prize pool just like the PGA and NASCAR does for their participants. Because the events earn so much for the sponsors and host, why should the players essentially foot the bill for the entire prize pool? To date, there have been no significant amounts of cash added to any prize pool but the debate runs on. There was talk of the WPT entertaining this idea a few years ago but it never happened. Perhaps that could be a way to revitalize the hurting WPT brand?

Regardless, the Main Event will play on today and it will air of course on Tuesday night on ESPN. The sponsors will make their money as will Harrah’s and of course the players will earn their paydays. Will the same scenario play out next year for the WSOP? What about the WPT? Will another enterprising player come along and provide some competition? Only time will tell but you can be rest assured, the debate over this will rage on until someone does.