"A chip and a chair"

Probably one of the most famed sayings in poker is "a chip and a chair". Its is something I hear every time I play poker and by far my father's favorite poker saying. But where did this widely used phrase come from? This week in Tom Sexton's blog he discovers the legend behind the famous words.

In fact the story Sexton unfolds in one of poker history greatness. On the second day of the 1982 World Series of Poker main event player Jack Straus made a move that will never be forgotten. On a single hand he bet around 15,000 chips, thinking he made an all-in move but not declaring it verbally. As the cards unfolded Straus lost the hand and as he stood up to leave the table believing he was eliminated, the dealer kindly asked if that was his single chip under the table railing. And in fact it was, Jack Straus had a single chip and of course his 'chair' in the tournament.

But what is even more extraordinary about this Poker tale, Straus went on to win the 1982 World Series of Poker main event. Perhaps the most unbelievable win in Poker history.