WSOP decreases the value of bracelets
Poker is an exciting game that obtained a significant popularity over the last few decades. Many poker players seek to become a winner and fight for the big pots in the amount of million dollars. Such situation led to an increase of the quantity of expensive tournaments which are held every year.
World Series of Poker wasn't an exception and its organizers began to offer more events where the winners are awarded with the bracelets for the victory. However it is somewhat illogical because the more bracelets are, the lower their value is.
In 2003 WSOP introduced only 36 bracelet events but this year there will be 78. Theoretically it is intended to attract more players and by the same token to grant more possibilities to win the money. But ultimately it all comes down to economic question.
In a parallel with an increasing number of the bracelet awards, the tournament rake is also being raised. In other words: the more tournaments are, the higher profit is. But if the bracelet market is oversaturated, then the value of the win is decreased. Such situations are observed at any market. On the one hand it is good for WSOP, but on the other hand - not so good for the players.
WSOP organizers state that implementation of large number of the bracelet events is based on the consumers' demand. Nevertheless, the organizers themselves get more benefit from it, which in turn leads to an increased number of the tournaments’ entries and also to an increasing of the tournament fees.
WSOP has always been in the top of the poker charts and everyone wanted to become a champion. However, if the organizers intend to decrease the value of their awards, then everything will be changed soon and WSOP will no longer be the leader of industry.