World Series of Poker has dramatic history

Monday, April 20, 1998 | 10:06 a.m.

Even in poker, art can imitate life.

When the world's top pro poker players come to Las Vegas this week for the 29th annual World Series of Poker at Binion's Horseshoe, some of the conversation at the tables could be about the upcoming motion picture "Rounders" starring Academy Award-winner Matt Damon ("Good Will Hunting").

The film, scheduled to be released in August, is about a college student torn between his determination to finish school and become a lawyer and his desire to drop out and become a high stakes gambler.

Improbable? Not really.

Phil Hellmuth Jr., the 1989 world poker champion, did it. So did the 1996 champion Huck Seed.

After poker hall-of-famer Doyle Brunson lost his basketball scholarship to an injury, he relied on his skills at the poker table to win enough money to put himself through college. However, his son, Todd Brunson, quit school to become a successful pro poker player like his dad.

"This is not an uncommon story in poker," said longtime World Series of Poker Director Jim Albrecht, who quit college his senior year to become a poker player and a poker room administrator.

"(Poker hall-of-famer) Chip Reece also was going go to law school when he came to Las Vegas and made so much money he had to rethink his future."

Albrecht noted that Hellmuth, the defending $3,000 buy-in pot-limit Texas hold 'em champion, initially thought the movie was based on his life.

The film will feature actual footage of the 1988 world title showdown between two-time world champion Johnny Chan, the defending deuce-to-7 draw champ, and Erik Seidel in the $10,000 buy-in no-limit Texas hold 'em game. Chan won.

The next year, Hellmuth, an economics major at the University of Wisconsin who quit his senior year to become a professional gambler, defeated Chan to become the youngest world champion in poker history at age 24.

In a moment as dramatic as any in the movies, Hellmuth's dad, Phil Sr., then dean of letters and science at the University of Wisconsin, embraced his gambler son, who had just won $755,000.

"At first, when P.J. told me he was going to become a professional gambler, I found it difficult to accept," Phil Sr. told the SUN after the game on May 18, 1989. "(He) was 20 credits short of graduating when he left school.

"But, gambling became P.J.'s profession after he learned to play poker while in college, and winning this tournament became his preoccupation."

In the movie, Damon's character, like Hellmuth, was inspired by watching the Chan-Seidel game on TV. He set out for the casinos of Atlantic City where he met Chan, who portrayed himself in the film, in a high-stakes poker game.

A similar story occurred two years ago when Seed won $1 million by capturing the world title. He had dropped out of Cal Tech in 1989.

"I started poker as a hobby and took a leave of absence from school," Seed told the SUN moments after winning the title. "I did well (at poker) and never went back (to school)."

Brunson, a graduate of Hardin-Simmons College (Abilene, Texas) has lamented in several interviews over the years that his son, Todd, gave up his dream of becoming a lawyer and followed in his footsteps.

Does Damon go on to play in the World Series of Poker or does he give up gambling and go back to school? Albrecht, who has been told the story's plot, isn't saying.

"I think it is a great script," Albrecht said. "It should increase interest in the World Series of Poker."

Hundreds of gamblers from more than 30 nations will compete in the World Series of Poker's 20 open events over the next three weeks. The women's $1,000 buy-in limit 7-card stud world title game will be held on Mothers Day, May 10.

The granddaddy of all gaming tournaments kicks off at noon Tuesday with the $2,000 buy-in limit Texas hold 'em game.

The tournament will conclude May 11-14 with the $10,000 buy-in no-limit Texas hold 'em game where the winner will receive $1 million.

The defending champion is Stu Ungar. Albrecht said the updated $2.50 Stu Ungar poker chip in the World Series champions collection, commemorating the titles he won in 1980, '81 and '97, will be released during the tournament. It will replace the two-title Ungar chip in the collectors series.

Winners of event championships and the world title finale will receive 14-karat gold Neiman-Marcus bracelets in addition to the lion's share of the prize money.

About 4,100 entrants -- many gamblers play in more than one event and some play in all of them -- are expected to vie for nearly $13 million in player-generated purses.

Last year, nearly $12.3 million changed hands in tournament action, breaking the previous record of $11.6 million.

Countless millions of dollars more will be wagered in side games, where records of the wins and losses are not made public. Also, gamblers can try to win seats in the tourney games at a fraction of the cost by competing in satellite events.

Longtime tournament coordinator Jack McClelland once again will serve as the chief referee.