| Competition: | 1978 World Series of Poker |
| Location: | Binion's Horseshoe, Las Vegas, Nevada |
| Dates: | May 7 – May 22 |
| Champion: |  Bobby Baldwin |
| Prev: | 1977 |
| Next: | 1979 |
The 1978 World Series of Poker (WSOP) was a series of poker tournaments held in May 1978 at Binion's Horseshoe,[1] and was the first WSOP that was not a winner-take-all prize. Instead the tournament had a progressive prize structure, as follows 50 percent for the Winner then 20 for second, 15 for third, 10 for fourth, and 5 percent for fifth place.[2]
| Event | Winner | Prize | Runner-up | |
|---|---|---|---|---|
| $10,000 Deuce to 7 Draw | Billy Baxter | $90,000 | Unknown | |
| $1,000 7 Card Razz | Gary Berland | $19,200 | Unknown | |
| $500 7 Card Stud | $17,100 | Unknown | ||
| $5,000 7 Card Stud | Doyle Brunson | $68,000 | Unknown | |
| $1,000 No Limit Hold'em | Aubrey Day | $42,600 | Unknown | |
| $200 Ladies' 7 Card Stud | Terry King | $10,080 | Unknown | |
| $5,000 Draw High | Lakewood Louie | $21,000 | Unknown | |
| $1,500 No Limit Hold'em | Hans "Tuna" Lund | $46,800 | Jesse Jent | |
| $1,000 7 Card Stud Split | David "Chip" Reese | $22,200 | Unknown | |
| $1,000 Ace to 5 Draw | Henry Young | $19,200 | Gary Berland |
There were 42 entrants to the main event. Each paid $10,000 to enter the tournament. The 1978 Main Event was the first of its kind to pay prize money to any players other than the winner.
| Place | Name | Prize | |
|---|---|---|---|
| 1st | Bobby Baldwin | $210,000 | |
| 2nd | Crandell Addington | $84,000 | |
| 3rd | Louis Hunsucker | $63,000 | |
| 4th | Buck Buchanan | $42,000 | |
| 5th | Jesse Alto | $21,000 | |
| 6th | Ken Smith | None |