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.

There were 42 entrants to the main event. Each paid $10,000 to enter the tournament. The 1978 Main Event was the first time that the world championship paid a prize to any players other than the winner.

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