There’s concern that distributing too many bracelets cheapens their value
Phil Hellmuth, the record holder with 17 World Series of Poker bracelets, has never shied away from speaking his mind—and his latest stance targets the sheer volume of bracelets awarded each year. During a break on PokerGO’s No Gamble, No Future, he told Card Player that the WSOP has drifted too far from its roots. In his view, the prestige of poker’s most iconic trophy is fading.
Hellmuth believes the WSOP should cap its annual bracelet total around 100. He says even some WSOP stakeholders agree, though others, like Daniel Negreanu, support offering more events. With more than 300 bracelets currently awarded across live and online series worldwide, Hellmuth argues the achievement no longer carries the exclusivity it once did. He points to the rise of online bracelet events in particular, citing small-field wins and ultra-low buy-ins as examples of how the honor is being diluted.
His concern isn’t aimed at the new generation of elite players chasing his record, such as Michael Mizrachi and Benny Glaser. Instead, he worries that the WSOP brand itself is at risk.
In 2025 alone, 234 bracelets are scheduled to be awarded, more than ten times the number available when Hellmuth began his career. He recalls eras when winning a bracelet meant conquering modest but highly competitive fields, and when the title represented a rare accomplishment.
Hellmuth says he’s pushing for change now that GGPoker, which acquired WSOP’s intellectual property in 2024, is evaluating the system. He claims Negreanu supports cutting the count dramatically.
If nothing is done, Hellmuth warns, the bracelet could lose its meaning entirely. He even hinted that he might stop playing if the number continues to grow, arguing that protecting the WSOP’s legacy is more important than chasing his own record.
