Are you up for a $1m buy-in poker event?
There have been many occasions when a budding poker player has looked to enter a tournament but found that the buy-in has just been out of their league. The bigger the buy-in, the bigger the prize but there is no doubt that sometimes there has to be a high level of buy-in order to limit the numbers. This isn’t always fair but it is the way of the world and a very basic rule of economics. It has to be said though, putting a buy-in price of $1m on a poker tournament does seem to be rather excessive. However, the more you learn about the game, the more you realise that there is a very special reason behind the pricing of this tournament.
A great poker event for a great cause
This is not some vanity exercise or a desperate attempt to make money though, this special poker event is being organised for charity and a very important one at that. The proceeds from the event will be going towards the One Drop Charity. This charity provides support and assistance in providing access to clean water in parts of the world where this is not currently available. Water is a basic human need with many people, children and adults, suffering illness and even fatalities, due to the lack of access to clean water. The One Drop charity is working hard in many places around the world to rectify this situation and this poker event is sure to cast a lot more light onto the work that the organisation does.
Poker really can help improve the world
Even though the buy-in price is exceptionally high, there have been 15 commitments to enter the competition. It doesn’t take a mathematician to realise that 15 people all committing to buy-in at $1m each has the ability to make a massive difference in providing water around the world, even after allowing for expenses and natural running costs. Some of the names that have signed up for the event include Guy Laliberte, who is the founder of the Cirque du Soleil and Phil Ruffin, who is the owner of the Las Vegas Treasure Island resort.
The tournament is not scheduled until the 1st of July 2012, so there is still plenty of time for people to save up the money to afford the buy-in! There is currently a limit of 48 players maximum for the tournament and if this amount of players can be found who are willing to pay the buy-in level, it could be a rather special event indeed. There will be a special platinum WSOP bracelet up for grabs and the winner will find their name in the record books alongside all of the other standard season winners.