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APNewsBreak: WSOP $1M buy-in poker tourney to offer richest prize ever, at least $12M for win
LAS VEGAS (AP) ' A never-before-seen $1 million buy-in tournament at this year's World Series of Poker will generate the richest top prize in poker history at more than $12 million ' and potentially more if there are additional players.
Series officials told The Associated Press they plan to announce Thursday that 30 players are committed to participate in the Big One for One Drop. The tournament starts July 1 in Las Vegas.
With 30 participants, the top prize is $12.3 million. That's more than the $12 million Jamie Gold won in 2006 for beating more than 8,700 players at no-limit Texas Hold 'em.
Eight-time gold bracelet winner Erik Seidel has joined the field. So have the chief executives of a private college lender and a stock trading firm.
Roughly 11 percent of each buy-in will go to charity.