Update: Big One for One Drop Soon to Commence

The one million buy-in tournament attracts many interested parties

July 1st is booked for the start of the $1 million buy-in Big One for One Drop tournament in Las Vegas attracting a lot of players, businessmen and industry experts interested either in huge prizes or the humanitarian character of the event, as one part of the tournament funds will be allocated to relieve water shortages in third world countries.

30 professional players and businessmen have already anted up having substantial means to cash in for the participation in this 48-player-capped event.

The first prize of the three-day NLHE event will be the biggest in history, exceeding even Jamie Gold’s $12 million won in the main event of the World Series of Poker back in 2006. The winner will be also receiving the so far biggest pokers tournament bracelet.

The charity part will account for slightly over 11 percent of the total buy-in.

Mitch Garber, chief executive of tournament host Caesars Interactive Entertainment, commented on the whole event:

quot;I think the drama here is the size of the stakes and the eclectic mix of characters sitting at the table. You have everything – billionaires, a Facebook millionaire, venture capitalists and business people.quot;

As per Associated Press reports issued on Friday, there are only two spots still available before the event reaches its cap of 48 players. Following the tweets posted by several top-class players about their plans to join the event, the cap is expected to be reached and create a $42 million worth final table to be entered by nine best players.

The action will be livestreamed over the internet on Sunday going on Monday, with final table play emitted with a fifteen minute delay Tuesday on ESPN2.

North American poker pros Phil Ivey, Daniel Negreanu, Jonathan Duhamel and Michael Mizrachi, and Danish player Gus Hansen are some of the confirmed participants.

Among international entrants, the event will boast Eden Shoes founder Frederic Banjout from France; hedge fund manager Talal Shakerchi of England and Cirque de Soleil and OneDrop.org Canada founder Guy Laliberte of Montreal.

Buy-ins also include Phil Ruffin, the owner of the Treasure Island Resort in Las Vegas, and MGM Resorts International executive Bobby Baldwin, along with Winmark Corp. CEO John Morgan of Minneapolis, Kansas car dealership ownerBrandon Steven, Greenlight Capital founder David Einhorn of New York and Chamath Palihapitiya, a California venture capitalist, former Facebook executive and part owner of the NBA Golden State Warriors.

As on several previous occasions, Einhorn announces he intends to give to charity any winnings he may make.

Winners of four low cost sponsored satellite tournaments will also get seats.