Jim Albrecht
1949-2003

If the value of a man's life is measured by how it touches others, then Jim Albrecht was a multimillionaire several times over. He taught and led others by example, leaving behind an indelible imprint on the game of poker and the many lives he inspired with his infallible character and unwavering professionalism.

Albrecht was a pioneer when poker was still played in the proverbial wilderness. He was among the first casino executives to actively promote poker in movies and on television. He devised bold new tournament rules that have become the standard of the industry. He even won a dispute with the Internal Revenue Service. Anyone who has filled out a tax return and collected winnings owes a debt of gratitude to Albrecht for his compromise with the IRS, which helped to make poker more legitimate. His life's work will continue to have an everlasting impact on the game for future generations.

But that's only a small part of the life of the man who was born on Dec. 8, 1949, in St. Augustine, Florida. Albrecht attended Florida State University, where he studied math and engineering. His life changed forever in the summer of 1971 when he came to Las Vegas on vacation. Thus began a 32-year career in gaming that catapulted Albrecht from a dealer into one of the icons of the industry. After attending dealers school, Albrecht worked at the old Carousel and Jackpot Casino dealing blackjack. Later, he joined the Golden Nugget to deal for Bill Boyd, legendary cardroom manager and member of the Poker Hall of Fame. Boyd recognized talent when he saw it, and soon Albrecht was promoted to poker supervisor.

In 1988, Albrecht took the job of poker room manager at the old Mint, a short time before Jack Binion purchased the property and merged it into the neighboring Horseshoe. Albrecht became poker room manager of the Horseshoe and director of the World Series of Poker that same year. He remained with Binion's Horseshoe for more than a decade.

During much of his life, Albrecht was closely affiliated with Jack McClelland. The Albrecht-McClelland collaboration organized and directed 10 World Series of Poker tournaments, four Hall of Fame tourneys, five World Poker Open events, and the inaugural United States Poker Championship. Albrecht introduced the first on-site supersatellites, buy-in chips, and negotiable-value chips for single-table satellites. The new system gave a player the flexibility to sell off his win or enter any event, and it more than doubled satellite participation. It is now is universal practice at most major poker tournaments.

One of Albrecht's biggest accomplishments was a deal he struck with the Internal Revenue Service in 1992. Threatened with the very real possibility of tax authorities shutting down the Hall of Fame tournament, his compromise allowed W-2G forms to be issued for the first time, instead of withholding taxes on cash winnings. Today, many gaming tournaments use this method of tax reporting.

Albrecht also helped to popularize poker via television coverage of the World Series of Poker, and was a regular guest on High Rollers, which aired on the Discovery Channel. Additionally, he served as a technical consultant on two popular films about poker – Rounders and Maverick.

Albrecht died on Oct. 24 at University Medical Center after suffering from a lengthy illness. He is survived by his loving wife, Susan, who is no stranger to the poker world due to her shared sense of dedication and commitment to many of the same goals that made her husband such a beloved and respected figure. He is also survived by two daughters, Kimberly Martin and Jennifer Albrecht, both of Las Vegas. He was 53.

The Albrecht family has suggested that donations can be made in Jim's memory to the Muscular Dystrophy Association.

- By Nolan Dalla