The World Series of Poker, this year is running a new $1 million buy-in tournament starting on July 1st this year. It's expected to have a first prize higher than any won before in WSOP history but a charity is also going to benefit from the huge tournament.
Already 30 players are reported to have registered for the huge buy-in event with 20 of them being non-poker professionals. There's a cap on the number of players allowed to enter at 48. A mega satellite ending the day before will see Caesars Entertainment Corp. fund two places.
The previous largest WSOP poker prize was won by Jamie Gold in 2006 and totalled $12.3 Million Dollars for beating off 8,773 other players in the Main Event.
If the capped number of players of 48 is reached for the tournament then the winner will walk away with more than $18 Million.
The $1 million buy-in includes an 11.1 percent cut for charity. One Drop, a nongovernmental organization that helps fight poverty by funding access to water projects worldwide stand to gain over $5 Million if the 48 player number is reached.
Some of the confirmed well known names include, Erik Seidel, Johnny Chan, Tom Dwan and Daniel Negreanu. They will play with non-professionals such as Guy Laliberte, founder of Cirque du Soleil and One Drop who masterminded the charity event.
Since its creation, One Drop has reached out to millions of people to support access to water as well as raise awareness of water-related issues with someone Worldwide dying of a water related disease every 20 seconds.