For five decades, the ultimate aspiration for many poker players has been a single trophy – the gold bracelet from the World Series of Poker.
Since its humble beginnings at Binion’s Horseshoe fifty years ago, the event has gained immense prestige, positioning the gold bracelet as the pinnacle of achievement in poker.
In 1970, the first World Series kicked off with just a few participants. As the years progressed, the event expanded to include preliminary contests. To elevate the profile of this nascent poker series, Benny Binion introduced the championship gold bracelets in 1976.
Winners, alongside those from previous events, proudly wore this glimmering piece of jewelry as they celebrated their victories.
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Bracelet Early Beginnings…
The price of gold that year was approximately $134 per ounce, which translates to about $601.82 today. Although this was nearly half the current market value, it still represented a significant prize alongside a generous cash reward. Binion regarded the bracelet as a symbol of honor for securing a win, and he would likely be astonished by its desirability and the expansive growth of the WSOP.
What was once a simple adornment has transformed into the most prestigious trophy in the world of poker.
The early editions of the bracelet were quite straightforward – a gold band engraved with the event name and year. At the time, its worth was around $500.
"The band resembled flattened gold nuggets,\" revealed Becky Behnen, Benny Binion's daughter, in an interview with the Associated Press back in 2006.
This classic style persisted through the 1980s and 1990s, although gems began to adorn the more elaborate pieces. By the 2000s, winners anticipated more durable designs with sharper, more contemporary lettering. Just as Super Bowl rings have evolved in size and extravagance, WSOP bracelets have followed suit.
How the WSOP Bracelets Have Changed!
Many players at 888poker are likely familiar with Martin Jacobson's remarkable journey, transitioning from a college student with a passion for poker to the champion of the 2014 Main Event, triumphing over 6,683 competitors for a staggering $10 million and his own WSOP gold bracelet.
This impressive trophy is an extravagant creation, heavily embellished with diamonds in a striking contrast of black and gold. Martin could not contain his excitement as he celebrated his victory, raising that substantial piece of jewelry high above his head.
Although the allure of the bracelet is undeniable, they occasionally appear for sale. A brief search on eBay may reveal some listings from time to time. For instance, in May 2019, a Limit Omaha bracelet previously won by Tom Franklin in the amount of $2,500 was on the market for $50,000 (or best offer).
In 2013, Jamie Gold’s bracelet from the 2006 Main Event fetched an impressive $65,725 during an online auction. This glamorous piece featured over seven carats of diamonds and was composed of 120 grams of both white and yellow gold. Gold emphasized that he wasn't parting with it purely for financial gain.
\"There are legal matters that I can't discuss, but I can assure you that I am not selling it,\" Gold explained to Card Player magazine. \"I would never consider doing such a thing. It's regrettable that these situations have arisen; it's beyond my control and not what I desire. I’m not intentionally selling; I’m not auctioning it, and I won’t profit even if it does sell.\"
Four years later, another Main Event bracelet made an appearance on the market. Tom McEvoy attempted to sell his bracelet from the 1983 Main Event on eBay. However, details of any transaction are unknown.
While some players may value a bracelet as a symbol of victory, the possibility of selling one can arise during times of financial need.
Big Names, Bigger Hardware
Bracelet sales might happen sporadically, but to most players, these pieces are emblematic of personal milestones. In 1989, Phil Hellmuth made history as the youngest player to win the Main Event, securing $755,000 in prize money. This victory marked the beginning of a collection of WSOP hardware that would follow.
"It was an incredible experience,\" Hellmuth reminisced, having published his autobiography titled 'Poker Brat' in 2017. \"My father traveled to support me, hoping I might win. It was his first time attending any tournament. The moment I embraced him after clinching the 1989 WSOP was one of the sweetest of my life. Winning the Main Event was my ultimate goal, and I was fortunate to achieve it early on in my career.\"
Phil Hellmuth, WSOP 1989
Today, he holds the record with 15 bracelets and added a WSOP Europe Main Event bracelet to his collection in 2012, becoming the only player to have won the Main Event in both Las Vegas and Europe. Following him are three players with ten bracelets each: Doyle Brunson, Johnny Chan, and Phil Ivey.
In modern times, especially the Main Event bracelets represent the epitome of glamour. Winning a WSOP bracelet bestows significant bragging rights, making it the pinnacle of achievement in the poker scene and often motivating players to aspire for more.
The 2016 Main Event bracelet garnered by Qui Nguyen exemplifies the evolution in design – large and exceptionally eye-catching. Constructed by Jostens, a prominent American jewelry manufacturer, this bracelet is a statement piece.
Crafted by a specialized team, this striking bracelet comprises over 40 uniquely-shaped components and weighs 427 grams of white and yellow gold. The links are artfully arranged to resemble playing cards, connecting a band adorned with diamonds and rubies to a stunning centerpiece inscribed with 'WSOP' in rubies, bordered by a row of black diamonds.
The centerpiece is beautifully set against backgrounds of white diamonds. Overall, this remarkable piece of poker hardware features:
- 1,356 white diamonds (25.5 carats)
- 626 black diamonds (14.8 carats)
- 194 rubies (3.8 carats)
The bracelet has a locket-like design, revealing an extraordinary centerpiece that includes a hidden compartment intended to hold the winner’s final two cards that secured their victory. This unique feature has been incorporated into subsequent designs.
The Most Expensive Trophy in Sports
WSOP authorities regard this trophy as the most financially valuable in sports. When assigning a value, they typically estimate that some modern pieces are worth at least $500,000, reflecting their incredible value. Jostens was responsible for the design of the 2019 bracelet, and one can anticipate a similarly grand and bold design for this year's edition.
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"The value is immeasurable because it is not something you can simply buy; it must be earned through victory,\" states Seth Palansky, vice president of corporate communications at Caesars. \"Designs have remained relatively stable in recent years, and recipients are universally delighted with their awards.\"
While every one of the 89 tournaments this year awards a bracelet to its victor, the design varies based on the event. Some bracelets are more adorned than others, with larger competitions yielding more impressive trophies.
"Each event offers unique designs, so you'll see variations in diamonds, gold, and overall aesthetics,\" Palansky notes.
Every summer, the quest for bracelets reigns supreme in the poker community, where players from around the globe endure this fierce competition, hoping to hoist their own trophies and wrap the gold around their wrists. As the 50th WSOP took place in 2019, there appeared to be no signs of diminishing enthusiasm for the pursuit of these prestigious bracelets.