Benny Binion was a mobster from Dallas, Texas. He was a moonshiner, ran an Italian Lotto, and ran a network of private dice games. By 1936 he gained control of most of the gambling operations in Dallas and had protection from a local politician. He moved to Las Vegas after WWII when the Chicago Outfit took over Dallas. He first became a partner of Las Vegas Club, but left after a year. He then opened the Westerner Gambling House and Saloon, which he sold due to conflicts with the other partners.
In 1951 he purchase the Eldorado Club and Apache Hotel and rebranded them as Binion's Horseshoe Casino. This would be the start of his successful Las Vegas career. His casino became popular for having high bet limits. He was an innovator and marketing genius. He began offering comps to all players not just high rollers. He was know for his generosity towards players. The Horseshoe Casino would offer a popular late night $2 steak special. He created a tourist attraction of a large horseshoe with $1 Million dollars on display. He would go on to create what is now know as the WSOP.
In 1949 he arranged for Johhny Moss and "Nick the Greek" Dandalos to play a head-to-head poker tournament. The game ended up lasting five months. He continued to host heads up poker games for high stakes players. In 1970 he came up with the idea for a high stakes poker tournament. They would play for cash and vote on the winner after the game concluded. The following year Binion reformatted the tournament, seven players paid a $5k entry fee and the winner took all. In 1973 CBS televised the tournament for the first time. In 1978 the prize money was divided for the first time. The WSOP then opened to common players, adding additional tournaments and satellite games. The WSOP helped to popularized poker and make the game what it is today.
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