THE hottest three weeks of poker in the year begin on 19 April. It is the 25th anniversary of the World Series of Poker, hosted by Binion's Horseshoe Casino in downtown Las Vegas. The action consists of high price tournaments, accompanied by round-the-clock side games at all levels of stakes, from dollars 1 bets up to no-limit.

Beyond the madding crowd in Binion's card room, where upwards of 50 tables will be in action, nothing exists. Empires may rise and fall, presidents may come and go, no one will even notice.

All you can hear, as you push through the crowd, is: 'So I'm big blind, ace-king in the pocket, this hot sucker bets a hund'ed, I raise the pot, an' on the turn, would you believe . . . .' Most of these stories wind up with the narrator explaining how he was outdrawn or outgunned, and got knocked out.

The big event is the no-limit Hold 'em tournament, to decide the title of world champion. It runs from May 9-12, with an entrance fee of dollars 10,000 and a first prize of dollars 1m.

In practice, many players enter for a lot less, by winning satellites, which are Hold 'em shoot-outs: 10 players put up dollars l,000 each, and the one who manages to knock out the other nine wins his entry fee to the championship. There are even super-satellites, which you can enter for as little as dollars 100, and if you get lucky, come through a field of 200-300 players to gain your entry fee that way.

Fortunately, living expenses are minimal. Binion's lays on free buffets, free drinks at the table, and cut-rate rooms. So anyone (in theory) can come to Las Vegas and win a fortune.

Many British players try, and in Iranian-born Mansour Matloubi, we can boast the world champion of 1990. In general, however, visitors find the mix of fatigue, excitement and glitter too much to handle. They play below par and press too hard, and by the time they get the measure of the games, they are packing to leave.

The following rules should be wrapped around your wallet: don't play until you are over jet lag; set a limit to your satellite losses; take a break every day with a swim or a show; do not smile at strange ladies seeking a poker stake; put your return ticket and getting-home money in the hotel safety deposit box.