World Series of Poker organisers have announced the addition of a $1 million buy-in tournament to the 2012 WSOP.
The tournament is set to have the worlds largest buy-in for a poker game, smashing the previous record of $250,000 for a tournament held during the Aussie Millions this year. With 15 players already pledging their entry and up to 48 places up for grabs, the prize fund will most likely give the WSOP main event a run for it's money.
Officially called the BIG ONE for ONE DROP, the game is being organised to benefit ONE DROP - a charity set up to fight poverty in the third world by improving access to water, and to raise awareness of water related issues.
The buy in is set at an even $1 million and has no additional entry fees. For every participant, ONE DROP is set to receive $111,111 which will be taken directly from the prize fund. Because of the high stakes nature of the game, payouts will be made to the top 20% - twice the number used in normal games. As well as a large chunk of cash, the winner will receive a platinum WSOP bracelet.
Unsurprisingly this is a game for the big boys. Players who have commited to enter include poker professionals such as Johnny Chan & Gus Hansen as well as Guy Laliberté (founder of Cirque du Soleil and chair of ONE DROP) and Phil Ruffin (owner of Treasure Island Resort, Las Vegas). Those of us without the required $1 million still have a [slim] shot at entering, with at least one Mega Satellite on the cards.
The three day event will take place at the Rio in Las Vegas on 1st July, 2012 with television coverage being provided by ESPN.
