Written by Thomas | Friday, August 20th, 2010

The WPT Legends of Poker Tournament Begins this Friday, August 20th. It will be held in Los Angeles at the legendary Bicycle Casino. This championship event will be a $5000 ($4800 +$200) No Limit Hold’em Championship and is expected to last until August the 25th. Day one will be split into 2 flights.

The buy-in for this poker tournament, at $5000, will be the first time since 2005 that it has been less then $10,000. This was done in order to increase the number of participants at WPT sponsored events. This world-wide recession has hit almost everywhere pretty hard. Poker players haven’t been exempt.

Nearly 300 people (279 to be exact) will be participating. This is a significant drop.25% fewer people will be playing in the WPT Legends of Poker then in 2008. However, even though less people will be participating, the last player standing (the first place winner) will take home more then $1 million. Those men and/or women who finish in the top five will all earn six figures, which isn’t a bad pay day.

In last year’s WPT Legends of Poker event, Prahlad Friedman won first prize. He beat Kevin Schaffel, a member of the 2009 November Nine, in heads up play. The final game was a pretty fast one. Only 127 hands were played. Friedman, the eventual winner, would go into heads up play with the third largest staff. Schaffel had the most, narrowly beating out Todd Terry. Friedman would go on to win out.

The WPT Legends of Poker event will feature more then the No Limit Championship tournament. There are preliminary event. Buy-ins begin at $225 and go up to $545. Players can participate in HORSE, Limit Omaha 8 or Better, Pot Limit Omaha 8 or Better, Seven Card Stud Hi-Lo, Limit Holdem and No Limit Holdem to name a few.

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