Discover the Facts Behind WSOP Bracelets: A Comprehensive Guide
The WSOP has been bestowing bracelets on victors for many years now, so if you've ever wondered who produces them, why they exist, or what their worth is, you're in the right place.
In this article, we'll answer all your burning questions about WSOP bracelets.
The Origins of WSOP Bracelets
In the early days of the World Series of Poker, back in 1970, winners didn't receive bracelets. Instead, they were given a cup and a relatively ordinary plaque. It was a nice trophy to have, but it lacked uniqueness.
Then, in 1976, Benny Binion, the genius behind the WSOP, had the idea of presenting bracelets to the champions. Realizing that bracelets would help set the game apart and make it stand out, Binion introduced this concept. Plus, players could wear their bracelets during the event, allowing their competitors to see they were facing a WSOP champion.
Although unconventional, this idea resonated with players, and WSOP bracelets remained a tradition ever since.
The number of bracelets awarded annually grew as poker's popularity increased.
How Much Do WSOP Bracelets Cost?
Assessing the value of a WSOP bracelet isn't a straightforward task. They're highly coveted in the poker world, so their worth often relies on the emotional attachment players have to them rather than their material worth.
Meanwhile, the design of bracelets has evolved over time, with more expensive materials now used. The initial bracelet in 1976 was valued at around $500. While that was worth a lot more Money in those days, today's WSOP bracelets, for non-Main Event winners, are worth roughly $1,500.
However, not all bracelets are equally valued. Those presented to Main Event winners are more valuable and flashier since they've become increasingly elaborate and expensive, making them unique pieces of jewelry.
It isn't unusual for modern Main Event bracelets to be estimated at hundreds of thousands of dollars based on their materials and design.
Can You Buy a WSOP Bracelet?
Regarding sports memorabilia, an item's value often has more to do with the desire to own it rather than its actual monetary value. It's no surprise that WSOP bracelets have occasionally been sold online.
In 2019, a bracelet from a $2,500 Limit Omaha event was put up for auction on eBay and fetched $50,000.
In 2013, a bracelet belonging to Jamie Gold, the 2006 Main Event winner, ended up on an auction site. This was the largest Main Event in history with Gold winning a massive $12 million. However, Gold claimed he had nothing to do with the sale and was against giving up his bracelet.
Another prominent example of a bracelet auction occurred in 2010 when Peter Eastgate, another Main Event winner, chose to sell his bracelet. All proceeds were donated to UNICEF.
In contrast, TJ Cloutier sold his 2005 Hold'em bracelet for just $2,500.
WSOP bracelets have a history of showing up on eBay and other sales platforms. How much you'll need to pay for one depends on the level of interest generated. Mere thousands of dollars should suffice for a "regular" bracelet.
With more bracelets available these days due to the growing number of tournaments, the average price may drop in the future. This could make it easier for you to own a WSOP bracelet.
In online discussions on Reddit, people argue constantly concerning the worth of a WSOP bracelet, illustrating the difficulty in determining a value for such a prize.
Creating WSOP Bracelets: The Artists Behind the Jewelry
If you closely examine a WSOP bracelet, especially those awarded for prominent events like the Main Event or Player's Championship, you'll notice the intricate craftsmanship behind it.
Creating these prized bracelets requires meticulous effort. Over the years, the World Series of Poker has worked with various companies to create these unique and sought-after poker accessories.
Currently, Jostens, a company proficient in designing high-end jewelry and sports trophies, is in charge of designing and crafting WSOP bracelets. The same team was responsible for the 2019 Main Event bracelet, which was particularly special due to the 50-year anniversary of the tournament.
This gold-made bracelet weighed 40 carats and had 2,252 gemstones - 77 rubies and 2,175 diamonds. This made it one of the most precious prizes you could receive.
It was eventually won by Hossein Ensan.
In general, companies with expertise in crafting high-value jewelry and trophies make WSOP bracelets. The value lies not just in the materials used but also in making the bracelets appear stunning and extraordinary.
The Future of WSOP Bracelets: Tradition or Evolution?
For over four decades, the World Series of Poker has been awarding bracelets to tournament victors. This symbol has become intrinsically linked with the WSOP.
Dropping this custom would be surprising, rendering it hard to imagine significant changes to the tradition.
However, some players have questioned the prestige and value of these bracelets with the vastly increasing number of WSOP events, including online tournaments.
They argue that the ever-increasing number of bracelet-awarding competitions devalues the bracelets, making them less desirable. When you can win a WSOP bracelet by participating in a tournament with a low buy-in, the luster starts to fade.
At the same time, the accessibility of WSOP bracelets could motivate more players to participate and participate in the action.
WSOP Rings: A Distinct Trophy for a Different Tournament
While most people are familiar with WSOP bracelets, you might have heard about WSOP rings. If you're wondering if bracelet winners also receive rings or how they fit in overall, here's some clarification.
WSOP rings, in reality, are trophies awarded to victors of the World Series of Poker Circuit (WSOPC) tournaments. These events are held in various locations worldwide with lower buy-ins than the World Series of Poker.
The WSOP Circuit and bracelet competitions are two separate events. WSOP bracelets and WSOP rings serve as symbols for different competitions.
The WSOPC tournaments attract many serious and professional players, making the competition more challenging than the main WSOP events.
Winning one or more WSOP rings is a commendable achievement.
Evaluating the True Value of a WSOP Bracelet
This article sheds light on everything you need to know about WSOP bracelets, showcasing their history and significance in the poker world.
The worth of a WSOP bracelet exceeds its market value as it holds sentimental value for each recipient and reflects their poker abilities.
For some, it's a priceless memento; for others, it's just a decorated circular band. Regardless, they highlight the success of the wearer.
Main image credit: Hayley Hochstetler via Twitter/WSOP
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