The 2024 World Series of Poker is quickly approaching, and in less than three months, the first of many “shuffle up and deal” announcements will mark the beginning of the world’s largest poker festival.
When it comes to WSOP, it is never a question if players will show up to play — the allure of big prize pools and the prestige of winning bracelets do a fine job of attracting professionals and hobby players alike.
The real question is, will it be bigger than the last year’s festival? Will it break attendance and prize pool records?
There’s always lots of factors to consider when estimating turnout. How many players will partners send through official WSOP 2024 satellites? What about unofficial packages? What are recent trends in live poker turnouts?
But one factor often overlooked, but can actually have a surprising impact on turnout — what’s the price of Bitcoin?
Poker players love Bitcoin. A decent chunk of the poker economy is closely tied to the cryptocurrency. It fuels a lot of offshore action on unregulated sites and apps. And when the BTC price soars against the dollar, a lot of poker players — many who keep some of their bankroll in Bitcoin — get a lot richer.
All of a sudden, that $10,000 sticker price for the 2024 WSOP Main Event can look very attractive indeed.
If you’re in the UK, Canada, South America, or most of Europe, this is the place to get in on WSOP action from the comfort of your own home.
- Online satellites to the Main Event and other bracelet events will run throughout 2024.
- Official online bracelet series on GGPoker for international players expected later in the year.
- Sign up today to claim a $600 sign-up bonus and take advantage of every WSOP 2024 offer and promotion as soon as they run.
If you’re in Ontario, this is the place to get in on WSOP action from the comfort of your own home.
- Online satellites to the Main Event and other bracelet events will run throughout 2024.
- Official WSOP Ontario online bracelet series expected later in the year.
- Sign up today so you’re ready to take advantage of every WSOP 2024 offer and promotion as soon as they run.
If you’re in Pennsylvania, Michigan, New Jersey or Nevada, this is the place to get in on WSOP action from the comfort of your own home.
- Online satellites to the Main Event and other bracelet events will run throughout 2024.
- Official online bracelet series across WSOP’s US network expected later in the year.
- Sign up today to claim a $1000 sign-up bonus and take advantage of every WSOP 2024 offer and promotion as soon as they run.
Sudden Windfall Looking for Purpose
Right now, Bitcoin is at its absolute high, standing at just over $72,100. The last time BTC was close to this value was back in November 2021. That peak was followed by a sharp decline, which saw Bitcoin drop as low as $16,500 at the very end of 2022.
The following year was a difficult one for all holders. The token struggled. It slowly gained value, but never coming anywhere near the high point from November 2021.
Finally, the start of this year marked a significant shift, as Bitcoin moved over the $40k mark in January and then crossed the $60k mark at the start of March.
With Bitcoin reaching a new high, there are a lot of poker players out there with extra funds burning a hole in their pockets. And what better place to use it than the 2024 World Series of Poker?
Bitcoin five-year price chart. Source: Google Finance.
Money Put to Good Use
Many poker players see Bitcoin as a good investment opportunity. Most of them are used to variance, so they don’t mind the ebbs and flows that come with such an investment as long as they are confident things will bounce back.
However, the last year showed that the volatility that comes with Bitcoin investments can be quite brutal and those holding sizeable amounts might be looking to diversify and put a part of that money in action elsewhere, using it to boost their bankrolls.
Those who have been holding on to smaller amounts could see this sudden surge as a big win and the moment they have been waiting for to cash in on their patience.
Either way, there will be some extra money floating around the poker economy pool, and major events will likely benefit from that fact — and they don’t come any bigger than the World Series of Poker.
The 2024 WSOP schedule features 99 bracelet events, and to play all of them, you need just under one million — or about 14 Bitcoins. If we take high rollers out of the equation, the total is much lower. If you were to play all the tournaments up to and including $10,000 buy-ins, you would need right around $300,000, which is fewer than five Bitcoins.
Of course, there are still a few weeks left before the official start of the Series, and the Bitcoin price could change between then and now — and the direction it takes could influence the attendance and participation numbers at this year’s World Series.
If the current value holds or the growth continues, it is safe to assume that the 2024 WSOP will reap the benefits of this positive trend.
