Picture Benny Binion here in 1951, opening the Horseshoe Club with a simple idea: better odds and higher betting limits than any other casino in town. Lester Ben 'Benny' Binion was a Texas bootlegger and numbers operator who came to Las Vegas with a simple idea: give gamblers better odds and higher betting limits than any other casino in town, and they will come.
They came. Binion's Horseshoe became the casino where serious gamblers went because it was the only place that would take their action. He displayed one million dollars in hundred-dollar bills behind a curved glass case in the shape of a horseshoe, and for years tourists lined up to be photographed in front of it. He served cheap steaks and strong drinks because he wanted his customers comfortable, not impressed.
In 1970, Binion invented the World Series of Poker by inviting the best poker players in America to compete at his casino. He gave the winner a silver trophy and the title of World Champion. The event grew into the largest annual poker tournament on Earth, eventually moving to larger venues but originating here in what Binion believed — correctly — was the most democratic game in the casino: the house takes a percentage of each pot, and the best player wins.