The 47th annual World Series of Poker has officially begun

May 31, 2016 3:32 PM

The 47th annual World Series of Poker has officially begun. The Rio convention center opened to players this morning for cash games and satellites. The bracelet events – 69 in total – will begin tomorrow.

There are a number of changes to the Series this year, including a modified payout structure that will apply to almost all of the events. The new structure will pay 15% of field with a minimum payout of 1.5 times the buy-in.

There are eight new events this year as follows:

The first open event this year is Colossus II, which begins Thursday morning. Last year’s event drew a record 22,374 entries and the winner, Cord Garcia, took home a first-place prize of over $638,000. This year’s event is expected to be even bigger as the winner in guaranteed $1,000,000.

Also returning this year is the $111,111 High Roller for One Drop event, the biggest buy-in of the summer. It is part of WSOP’s continuing partnership with One Drop, a charity dedicated to providing sustainable access to clean water in impoverished areas.

After a successful debut last year, the $25,000 pot-limit hold’em event will return.

The Main Event, the highlight of the Series, is set to begin July 9. There will again be three starting days and play will continue through July 18. As usual, when the final table of nine players is determined play will be put on hold for three months and resume again Oct. 30-Nov. 1, live on ESPN.

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