The 1978 World Series of Poker (WSOP) was a series of poker tournaments held in May 1978 at Binion's Horseshoe,[1] 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.[2]
There were 42 entrants to the main event. Each paid $10,000 to enter the tournament. The 1978 Main Event was the first of its kind to pay prize money to any players other than the winner.