The World Series of Poker Main Event buy-in was first set at $10,000 in 1972, and it has not changed since then.
In 1972 the consumer price index was 41.8. It is now 226. Therefore, if the Main Event buy-in had kept pace with inflation, it would now be about $54,000.
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Hence, presumably, the price point for the Chip Reese cup. It more accurately represents the "high-end" tournament that the Main Event was originally.
Heh: Chip Reese's cup. Sounds like a candy!
[Yes, I am easily amused, especially by myself.]
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