Texas Hold ‘em, the New Social Gathering Place for Business

February 12, 2010 at 4:31 pm 2 comments

An interesting trend has been developing over the past few years. Where once, corporate golf outings were considered the best way to network and entertain clients, a new type of business event has emerged in the last year or two. Many corporations have found a new way to mix philanthropy, networking and fun all together — in a “Charity Poker Tournament”. So, what has really fueled all of this interest in poker?

A little research on the subject, with much thanks to Wikipedia:

“Texas Hold ‘Em is one of the most popular forms of poker. Hold ’em exploded in popularity as a spectator sport in the United States and Canada in early 2003, when the World Poker Tour adopted the lipstick cameras to show each poker hand.

A few months later, ESPN’s coverage of the 2003 World Series of Poker featured the unexpected victory of Internet player Chris Moneymaker, an amateur player who gained admission to the tournament by winning a series of online tournaments. Moneymaker’s victory initiated a sudden surge of interest in the World Series, based on the egalitarian idea that anyone—even a rank novice—can become a world champion.

In 2003, there were 839 entrants in the WSOP Main Event, and triple that number in 2004. In the 2005 Main Event, an unprecedented 5,619 entrants vied for a first prize of $7,500,000. This growth continued in 2006, with 8,773 entrants and a first place prize of $12,000,000 (won by Jamie Gold).

Beyond the World Series, other television shows—including the long running World Poker Tour—are credited with increasing the popularity of Texas hold ’em. In addition to its presence on network and general audience cable television, poker has now become a regular part of sports networks’ programming in the United States. “

It is thought that spectators of Texas Hold’em now rival that of football and stock car racing in the United States, a phenomenal prospect.

Many amateur tournaments have sprung up to allow “friends” to play poker, network with each other, and give proceeds to charity. Could there be a better combination? As an example, The Brenner Group is hosting a charity tournament next month to raise money for The American Red Cross, and two well known valley companies, Bridge Bank and Orrick Herrington & Sutcliffe have agreed to co-sponsor the event.

So, if you were wondering why all of the Poker Tournaments are springing up, you now have all the facts.

Rich Brenner is Founder and CEO of The Brenner Group, one of Silicon Valley’s premier professional services firms. Rich is a veteran executive, entrepreneur, investor, board member, and philanthropist.


Read more about Silicon Valley news, trends, and commentary in The Brenner Banner

Original post permalink:

https://banner.thebrennergroup.com/2010/02/12/poker-is-the-new-golf/

Entry filed under: Interim Management.

Preferred Equity Basics Part 2 Selling Patents and Intellectual Property Part 1

2 Comments Add your own

  • 1. Adam  |  February 23, 2010 at 8:50 am

    Hi i am interested in playing in the tournament. I just cant find out how much it will cost me? can any one please tell me?
    Thanks.

  • 2. Wes  |  February 23, 2010 at 10:56 am

    will answer via direct email–thanks for inquiring.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Subscribe to the comments via RSS Feed


About…

Silicon Valley finance and accounting issues, trends, and commentary from The Brenner Group.   (more)


Recent Posts

Archives