Million Dollar WSOP Event Will Award Bracelet

The World Series of Poker announced today that the planned $1 million buy-in tournament scheduled for next year’s World Series has passed a key entry level, ensuring that the tournament will be played, and will be counted as a bracelet event.

According to WSOP officials, there are now 22 players who have committed to play in the event, which is in part a charity initiative. That number is important, because it matches the size of the field Doyle Brunson defeated in 1976 to win the WSOP Main Event crown. Since then, that has become the minimum size required for a tournament to officially count in WSOP records.

The tournament will set aside 11% of all buy-ins as charity donations for One Drop, the Montreal-based chartity led by Guy Laliberte, founded of Cirque de Soleil and the tournament’s chief organizer. At the moment, that would mean that over $2.4 million has already been raised for the charity, provided that all committed players do participate.

That number, however, will be dwarfed by the prize that ultimately goes to the tournament winner. Even if the tournament doesn’t increase its field further – which it is expected to do – the winner would already take home $8.89 million, or slightly more than the amount won by Pius Heinz at last month’s WSOP Main Event. Should the tournament end up with 29 players or more, the first prize would eclipse the $12 million won by Jamie Gold and become the largest prize ever awarded at the WSOP.

A mix of the ultra rich and the top poker players in the world are expected to participate in the tournament, and it’s still possible that a satellite seat or two might be given away before all is said and done. Already, several top poker players have committed to playing in the tournament, including Daniel Negreanu, Tom Dwan and Johnny Chan. In addition, the Associated Press has reported that Treasure Island casino owner Phil Ruffin and MGM Resorts executive (and four-time WSOP bracelet winner) Bobby Baldwin will also be playing.