In the history of modern poker, numerous players have risen to prominence and captured the interests of global spectators. However, few have been more instrumental to the industry’s success than Chris Moneymaker. Not only did the 2003 World Series of Poker Main Event winner break down pre-existing stereotypes of online poker, but he made history in becoming the tournament’s first champion to qualify from an online site.
Although online poker found popularity during the late-1990s, Moneymaker exposed the market’s true potential. As such, few can argue that the Atlanta-born player didn’t drastically alter the poker industry by elevating the appeal of web-based variants of the traditional game. It’s a testament to such growth that PokerDIY’s mobile app, now assists over 82,000 players. So, let’s look back on Moneymaker’s success and consider the implications of his WSOP triumph.
What Is the Moneymaker Effect?
Within the WSOP, there are few more historic competitions than the Main Event. Since 1970, the prestigious event has captivated both players and spectators alike. Following a format change in 1972, the tournament now utilizes a $10,000 buy-in no-limit Texas Hold ‘Em style, and this has long created edge-of-the-seat, high-stakes drama. During the competition’s early days, well-known winners, such as Johnny Moss and Doyle Brunson, won the event on numerous occasions, although repeat winners became rarer from the 1990s.
However, it wasn’t until 2003 when the Moneymaker effect revolutionized modern-day poker. 18 years ago, the 45-year-old player qualified for the event through an $86 online tournament, and he was unsurprisingly a heavy underdog to win the Main Event. However, the Atlanta-born competitor upset the odds, beating 838 players to become World Champion. Although he wasn’t the first winner of a multimillion-dollar cash prize, he was the first to do so at the WSOP Main Event having worked his way into the tournament via the online circuit.
As such, what followed became known as the Moneymaker effect. Before he was a world champion, Moneymaker worked as an accountant but became an overnight sensation after defying the odds at the WSOP. Unlike those before him, he showcased that aspiring poker players can achieve their dreams by sitting in front of a computer screen. The result saw an unprecedented increase in poker’s popularity, with reports stating that an at-the-time record of 8,773 players entered the Main Event in 2006.
Although Moneymaker was an unknown amateur, Greg Raymer’s success in 2004 speaks volumes about the earlier poker-enhancing effect’s impact. At the time, the North Dakota-born play was a semi-professional, and he claimed Main Event success in 2004 after qualifying through an online competition.
Opening the Door to New Digital Gambling Opportunities
Fascinatingly, the extent to which Moneymaker altered the world of poker is evident from participants’ graphs. As per Exclusive E-Journal, the Main Event featured 839 players in 2003, 527 more than in 1997. The years that followed, however, saw drastic improvements. After the peak total of 8,773 in 2006, this fell in 2007 to 6,358, although the entrant figures remained above 6,000 until 2016. Prize money also showcases the significance of Moneymaker’s triumph. In 2006, the pot peaked at $12 million, but then always sat above $8 million between 2007 and 2016.
In terms of the online gambling industry, Moneymaker was undoubtedly the catalyst behind the emergence of various opportunities. With more people opting to play poker online, this resulted in a demand for other traditional skill-based games to transfer to the digital world, such as baccarat. Much like poker, the well-known game presents players with the opportunity to win big prizes from their computers or smartphones. However, because modern-day users now have different requirements, baccarat provides a convenient, player-friendly, less-strategic alternative to poker.
At the time of writing, choice and variation are at the heart of the online casino industry. Along with now being able to customize blind timers to suit your chip setup, players can also immerse themselves in non-skill-based games. For those who feel inspired by Moneymaker’s success but don’t have the time to learn poker, online slots are a viable alternative. At the best real money casinos of 2021, modern-bettor cans experience the thrill of digitally striving to win real money, much like Moneymaker did on his way to the Main Event crown back in 2003. Fascinatingly, plenty of the latest operators have a wide-ranging selection of video slots, many of which feature progressive jackpots. All of which are available on mobile devices too. Now, multimillion-dollar prizes are available, and few can argue that Moneymaker didn’t inspire such growth.
Taking the Online Sector to New Heights
Although social and technological changes have played a part in enhancing the appeal of web-based gambling, Moneymaker’s role was pivotal. The statistics show that, after 2003, poker’s popularity skyrocketed, resulting in record-breaking prize pots coming to fruition. Not only that, but digital platforms have since embraced diverse forms of gambling, such as slots, which is a testament to the Moneymaker effect’s unprecedented influence.