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World Series Of Poker Unveils Million Dollar Tournament

The World Series of Poker understands that part of the allure of playing poker for gamblers is the excitement factor when big money is on the line. That is why the WSOP has unveiled this week the largest buy-in tournament in the history of the game. The $1 million buy-in will also help the event break the record for largest payout.

On Thursday, WSOP officials announced that they had thirty players already signed up for the $1 million buy-in tournament. The previous record for a single prize in poker came during the 2006 main event, when Jamie Gold won just over $12 million. The tournament this year is expected to have a top prize of $12.3 million.

The WSOP has been pushing the envelope the past few years, and this year they were dedicated to bringing even more excitement to the annual event. The $1 million buy-in tourney is just one of several new events, as the WSOP continues to grow. Already, the summer poker series is considered the biggest event in poker each year.

The economic recession hurt the WSOP in 2009 and 2010, but last year Las Vegas was again filled with hopefuls looking to break the bank. The main event has become so popular that ESPN now televises the final table on a short tape delay. The televised event draws millions of watchers from all across the world.

The $1 million event could gain more popularity in the coming months leading into the WSOP. Tournament officials claim they will cap the game at 48 entries, meaning only 18 more are needed to reach that magic number. The field for the tournament will be a mix of professional poker players and billionaires. Pros such as Johnny Chan and Daniel Negreanu will take part in the event, as will Cirque du Soleil founder Gary Laliberte.

Professional poker players tried unsuccessfully over the past year to create their own league, where amateurs would not be permitted to play. The league folded, however, after the founders ran up debt and failed to produce a product that caught on with the public.

The $1 million tournament was created as a fundraiser for One Drop, an organization that raises money to help get water to poor countries.

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