1978 World Series of Poker

The 1978 World Series of Poker (WSOP) was a series of poker tournaments held in May 1978 at Binion's Horseshoe, and was the first WSOP that was not a winner-take-all prize. Instead the tournament had a progressive prize structure, as follows 50 percent for the Winner then 20 for second, 15 for third, 10 for fourth, and 5 percent for fifth place.