December 10th, 2012  By Scott Jack

 

There is going to be a new special tournament at next year’s World Series of Poker. The 2012 WSOP schedule isn’t expected to be released until after the New Year, but one tournament has already been announced. Caesar’s has teamed up with the ONE DROP foundation to offer a $1M buy-in tournament that will benefit charity.

What is the ONE Drop Foundation?

 

The ONE DROP foundation was founded in 2007 by Guy Laliberte. Laliberte also founded the Cirque du Soleil and he loves the game of poker. ONE DROP aims to bring awareness to water related issues around the world and access to water for people in impoverished regions around the world. Visit ONE Drop here.

Since 2007 ONE DROP has raised $41M and the overall goal of the foundation is to earn $100M in contributions over a 25-year span. ONE DROP has teamed up with Caesar’s Interactive Entertainment to run a WSOP bracelet event with a $1M buy-in. A total of 11.1% ($111,111) of each buy-in will be donated to the ONE DROP foundation.

What is the Big One for One Drop Tournament?

 

At the 2012 WSOP a new tournament called the “Big One for One Drop” will be played from July 1^st – 3^rd 2012. The event will have a buy-in of $1M and $111,111 of the buy-in is contributed to the ONE Drop foundation. The remaining buy-in will go into the prize pool, which is expected to be in the range of $30M – $40M.

In order to for a WSOP tournament to be an official bracelet event there needs to be a minimum of 22 players. This tournament was initially announced last summer, but it has only been made an official bracelet event this week. A lot of players feel that the tournament shouldn’t be a bracelet event because they feel players could “buy” a bracelet.

Should the Big One for One Drop be an Official WSOP Bracelet Event?

 

I personally don’t mind that the tournament will be an official WSOP bracelet event. This will be the biggest buy-in tournament in the history of poker and I feel that the winner should receive a WSOP bracelet. Nowadays over 50+ WSOP bracelets are awarded every year, so they don’t mean as much as they did a decade ago.

The majority of players that are going to play in the tournament have already won a WSOP bracelet. I’m sure the last thing on the participants mind is winning a WSOP bracelet and I don’t know why so many players are upset with the decision to make the Big One for One Drop an official WSOP bracelet tournament.

Daniel Negreanu is one of the confirmed players in the tournament next year. Negreanu was interviewed about the tournament and said “I think it should be a special event without a bracelet, but whatever. It’s for charity that’s literally the only redeeming quality in this perspective.”

 

What Negreanu said I agree with and feel that the fact the tournament is for charity is all that matters. If the winner receives a WSOP bracelet, who really cares? I’m more concerned that the ONE DROP foundation will be able to earn roughly $5M if the tournament cap of 48 players is hit.

What Players Have Confirmed Their Seat in the Tournament?

 

It has been confirmed by the World Series of Poker that 22 players have joined the tournament. To hold your seat in the tournament players need to pay $50K of the $1M buy-in. The rest of the buy-in ($950K) is due two weeks before the start of the tournament on July 1^st 2012.

A few of the players that have confirmed seats in the tournament want to remain anonymous. The WSOP will be releasing the names of the participants leading up to the tournament and at the moment several big name players have been confirmed in the Big One for One Drop.

1. Patrik Antonius
2. Gus Hansen
3. Tom Dwan
4. Tony G
5. Daniel Negreanu
6. Jonathan Duhamel
7. Bertrand Grospellier
8. Johnny Chan
9. Dan Shak
10. Dan O’Donnell

Several businessmen will be playing in the tournament as well. A few other confirmed players include the founder of the ONE DROP foundation Guy Laliberte, Bobby Baldwin, Phil Ruffin and Andy Beal. As long as you are over the age of 21 years and have the $1M cash buy-in, you can play in the Big One for One Drop.

My Thoughts on the Big One for One Drop Tournament

 

I can’t wait to watch the tournament and I’ll glad that it is now official. The best poker players in the world will be playing in the event and every player will have $1M on the line. When the richest poker players have $10K on the line it doesn’t seem like much to them. With $1M of their money on the line I expect everyone to play their best poker.

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