The World Series of Poker (WSOP) has announced it’s adding a new $1 million buy-in poker tournament (that means it’s going to cost a cool $1 million to enter) as part of next year’s World Series of Poker at Rio Las Vegas.
The new tournament, set to launch in 2012, will benefit One Drop, an organization which aims to fight poverty worldwide by providing access to water and raising awareness about water-related issues.
The “Big One for One Drop” tournament is expected to generate one of the largest prize pools in tournament poker (outside the WSOP’s Main Event).
The tournament is slated to begin Jul. 1, 2012 at the Rio and will be a three-day tournament. Officials say 11.1% of the tournament buy-in will be donated to One Drop, with $889,889 of each buy-in going toward the tournament prize pool.
This blog knows what you’re thinking! A million-dollar buy-in? Well, One Drop has already gotten commitments from 15 participants so far.
They include Guy Laliberte, Chair of One Drop and founder of Cirque du Soleil; Bobby Baldwin, four-time WSOP gold bracelet winner and President & CEO of City Center Group; Phil Ruffin, owner of Treasure Island and poker pros Patrik Antonius, Gus Hansen, Daniel Negreanu, Johnny Chan, Tom Dwan and Tony Guoga.
WSOP gold bracelet winner Gus Hansen said, “Supporting [fellow poker player] Chris Ferguson’s charity, I spent four weeks in Africa last year, and I came to realize what a precious resource water is. Therefore, it is a pleasure to enter the biggest poker tournament ever and at the same time support the One Drop organization.”
Caesars will offer additional entries to two lucky poker players. One will go to the winner of a Mega Satellite, whatever that may actually be, and the other will be given away in a yet-to-be determined promotion.