There's some guy who played Ultimate Frisbee for Michigan State who did pretty well in the World Series Main Event a few years ago. Now he travels around, plays Ultimate, and plays in a live poker tournament every now and then. People keep telling me about him, and it's kind of driving me crazy. The thing is, he's probably not even good.
Online players have a strange relationship with the World Series, while the World Series has a strange relationship with the poker world as a whole. I can't think of a competition in any other game or sport that occupies quite the same place as the World Series. Maybe the closest is the NBA All-Star Game -- a beloved spectacle, far from meaningless, but equally far from the sport's competitive heights.
Nonetheless, after years of pitching the World Series as poker's ultimate championship, ESPN has made that perception into a sort of reality. The glamor and media coverage make the World Series a favorite of casual players, people who wouldn't put down 10k on any other poker tournament. Which means that, as compared to other poker tournaments with similar buy-ins, the Main Event is distinguished by the low level of competition. And you can turn on your TV at almost any hour of the day or night and see self-serious dorks in sunglasses playing awful poker.
That makes it seem like a great opportunity for good online players to make money, but it's counterbalanced by a number of other factors. First, you have to get yourself physically to Vegas. Second, the tournament features a grueling 12-day schedule. Even if you figured to be worth twice the buy-in (representative of a massive skill advantage), that's still 12 long days' work for 10k, not a spectacular wage by poker standards. Of course, if you bust out early you don't have to stay around for the full 12 days, but the fact remains that the tournament represents a large time commitment. And finally, no matter how good you are, by far the most likely outcome is that you'll walk away out 10k. Only about 10% of the field makes any money back.
Dan Harrington compared playing in big live tournaments to playing the lottery: "If you're bad, you don't have a ticket. If you're average, you have one ticket. If you're good, you have two tickets, and if you're great you have six tickets. But you're still in the lottery."
So I don't see the World Series as a great opportunity to make money. But people still ask me if I've played in it, and I kind of want to be able to say I have. Maybe at some point if my poker job goes well enough I'll be able to justify spending 10k on it.

