During the 2016 WSOP event back in July, One Drop founder Guy Laliberté had announced that the Big One for One Drop shall have a comeback, and this time with a whopping €1 million buy-in, making it one of the biggest poker tournaments of all time!
Unlike its previous tournaments, there are two things which are different: for the first time in its history, professional poker players would be barred from entering the tournament. The tournament will be played at the Casino de Monte-Carlo in Monaco.
In conjunction with Caesars Interactive Entertainment (owner of WSOP) and Monte-Carlo Société des Bains de Mer, The Big One for One Drop is part of a 5-day high-stakes cash game and tournament festival that starts from October 13 to 17 at the Casino de Monte Carlo.
€111,111 of each entry for the first European version of the tournament shall be donated to the One Drop Foundation.
According to the WSOP.com site, "35 players to date are confirmed to play in the headlining event, The Big One for One Drop Invitational, which will begin at noon on Friday, October, 14 and will feature the largest buy-in poker tournament ever held - 1,000,000 euros. With €111,111 from each entry going to One Drop, and no other fees deducted for event operations, €888,889 from each buy-in goes directly into the prize pool.
That is a staggering €31,111,115 up for grabs, with the expectation that these figures will grow when the final field is solidified and re-entries are tallied. In addition, the winner will receive one of the world's most valuable sporting trophies, a ceremonial bracelet hand-crafted in platinum by famed jeweler Richard Mille."
Even if the professional poker players are not allowed to play, they can still participate by acting as coaches during the 3-day event for the billionaires. For their expertise, the pros shall receive 2.5% of their player's winning over and above the entry fees paid. Players can meet their coach in a designated private area during breaks, at specific moments, and "between hands".
Aside from the tournament, there will also be cash games for recreational players (by invitation of No-Limit Hold'em, No-Limit Hold'em six-handed, etc.) which are offered daily from 12 noon until 6 a.m. with buy-ins ranging from €2,500 to €1 million.
Source: https://www.highstakesdb.com/7250-35-players-and-counting-for-the-1m-buy-in-big-one-for-one-drop.aspx and http://www.wsop.com/news/2016/Sep/7931/ONE-DROP-EXTRAVAGANZA-ANNOUNCES-SCHEDULE-AND-STRUCTURES.html