WSOP Partnering With Charity To Host $1M Buy-In Event In '12

The World Series of Poker "plans to stage a card tournament next year at levels never reached before by even the world’s biggest high rollers," costing entrants $1M to buy in, according to Oskar Garcia of the AP. WSOP officials announced the no-limit Texas Hold 'em tournament Thursday as “part of a charity initiative with One Drop, a non-governmental organization in Montreal that pushes for access to water in Third World countries.” The tournament, billed as “The Big One for One Drop,” is scheduled to be a three-day event starting July 1, 2012. ESPN “plans to televise the tournament.” The event will award a “specially designed platinum bracelet, and its results will count toward series records like any other tournament.” The $1M entry fee "dwarfs all live poker tournaments before it in terms of the cost to enter." WSOP officials indicated that "15 players already have confirmed plans to play." Cirque du Soleil Founder Guy Laliberte, who helped organize the event and is one of its confirmed players, said that it could eventually become an annual tournament if it “gets corporate backing for entries and proves popular.” About 11% of the total buy-in "will go to the charity, and the series plans to skip its normal fees," roughly 10%, to host the tournament. Poker player Daniel Negreanu, who indicated that he plans to play, said that he "didn't think the tournament would overshadow" the WSOP main event (AP, 6/2).