The 1978 World Series of Poker (WSOP) was a series of poker tournaments held in May 1978 at Binion's Horseshoe, 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.
There were ten preliminary events at the 1978 World Series of Poker. Future Poker Hall of Famer Chip Reese won his first WSOP bracelet in the 1978 WSOP.
There were 42 entrants to the main event. Each paid $10,000 to enter the tournament. The 1978 Main Event was the first edition of the tournament to pay prize money to any players other than the winner. Bobby Baldwin received half of the total prize pool for his win. Crandell Addington finished runner-up in the Main Event, which he did in the 1974 WSOP Main Event.