Full Tilt Poker Announces Onyx Cup Series

Thus far in 2011, tournaments have been dominated by an influx of high-roller events, pitting the world’s best players against each other in elite competition. So far, the action has been limited to the Bahamas and Australia, but Full Tilt Poker recently unveiled the biggest secret in poker, which is a plan for a live-tournament series of its own, dedicated to continuing the trend.

Known for its big buy-in cash-game action, Full Tilt has stepped up and created the same nosebleed-stakes atmosphere for the live-tournament arena. The new six-tournament event is called the Onyx Cup Series, and it will feature buy-ins ranging from $100,000 to $300,000. Should someone play in every event, it will cost a staggering $950,000. The events will take place in exotic locations such as Las Vegas, Europe, and Asia.

Tournament organizers are estimating an overall prize pool of $30 million for the series, which will also feature a leader board to determine which player will be named the Onyx Cup Series champion.

The series will consist of five preliminary events and will culminate with the $250,000 Grand Finale, with a generous $1 million added to the prize pool. The first tournament will take place in Las Vegas, May 11-12, 2011, just weeks before the World Series of Poker kicks off. Team Full Tilt pros John Juanda, Howard Lederer, Chris Ferguson, Erick Lindgren, and the red-hot Erik Seidel have already expressed their commitment to playing.

Although the buy-ins are huge, anyone with the desire to play can do so by simply showing up with the cash or winning a seat online. Full Tilt has started running qualifying tournaments online, and some lucky players will even have the chance to freeroll their way in on FullTilt.net. There also will be an intricate steps system, enabling players to work their way to a tournament buy-in.

Although television partners have yet to be announced, it has been confirmed that the Onyx Cup Series will be broadcast in more than 40 different countries in more than 20 languages. Mori Eskandani and his company POKER PROductions, responsible for shows such as Poker After Dark, High Stakes Poker, and the National Heads-Up Poker Championship, will be at the helm for all of the television production.

What the Pros Are Saying

The 14 members of Team Full Tilt are some of the greatest players in the game today, combining for a total of 38 World Series of Poker bracelets and more than $100 million in tournament earnings. Card Player recently sat down with some of the team’s best to get their thoughts on the new series.

Erik Seidel has been on a tear lately, winning the NBC National Heads-Up Poker Championship, the L.A. Poker Classic high-roller event, and the $250,000 super high-roller event at the Aussie Millions. In fact, his five biggest scores in 2011 all have come from tournaments with buy-ins of $25,000 or more, making him one of the early favorites to come out on top with the Onyx Cup. Yet, Seidel doesn’t think his game is necessarily built to take on the best players in the world.

“I don’t really know how to explain my recent run,” he said. “I do feel like I’m playing well, but I can’t imagine that I’m better suited to competing against the toughest players in the world. I just think it’s one of those situations where skill combines with good fortune, and I’m happy that it’s happened to me.”

The eight-time WSOP bracelet winner then explained why the Onyx Cup Series is a good revelation for the poker world. “This is where poker was headed. To be honest, it’s something that’s needed. When you look at poker tournaments today, the best players really aren’t competing. They are busy swinging around hundreds of thousands of dollars, and really have no desire to duke it out for a week to win just a small amount of money. The Onyx Cup Series will be the perfect arena for the true greats of the game. The buy-ins are significant, and the players will be the best of the best.”

Gus Hansen, winner of three World Poker Tour titles and a WSOP bracelet, echoed Seidel’s thoughts on the motivation factor. “It’s always interesting in the big buy-in tournaments,” he said. “For me, it has always been tough to lose $300,000 playing cash games, and then try to concentrate on a $10,000 tournament the next morning. With this tournament series, I can count on big payouts and tough competition, which means that I’m going to really have to give it my best effort.”

Patrik Antonius, one of the biggest online cash-game winners in history, admitted that he needed an incentive to play, as well. “I’m very excited. The poker world has been a bit stale for the past few years when it comes to live tournaments, and I really feel that this is the kick it needs to liven things up. Personally, the Onyx Cup Series will give me the motivation I need to compete at the highest level. This is elite competition at the highest stakes in the world, so I have no excuse to stay away.”

Fellow online-poker superstar Tom “durrrr” Dwan went further, explaining why it’s so hard to get the world’s best players to come together for tournaments. “There’s a misconception that I don’t care about the smaller buy-in events,” he said. “If I’m in a city that is having a $10,000 tournament and there’s not significant side action going on in the cash games, both live and online, I have no problem jumping in and playing the event. That being said, I’m not going to go out of my way to fly to a random $10,000 event, where I might make only 100 percent to 200 percent on my buy-in. For an event with a six-figure buy-in, everything changes. Now, I’m happy to fly across the world to compete, because I know that any amount I might win will be significant.”

Widely regarded by most to be the world’s best poker player, Phil Ivey commented on the prestige of potentially winning the Onyx Cup. “I like to play high-stakes poker, and this is just another form of that. What can be more fun than playing for a significant amount of money against the best players in the world? Winning one of these events is definitely something that a player can hang his hat on and be really proud of.”

Of course, events with six-figure buy-ins are sure to attract a fair number of nonprofessionals, and Antonius is hoping that translates into juicier cash games during the season. “I’m always excited about big side action. Hopefully, this series will do a good job of attracting high-stakes players not only to the tournaments, but to the cash games, as well. I know that we’ll get some wealthy businessmen in Asia, and I imagine that will be the case at the other stops, as well.”

Plans for the Future
Full Tilt envisions the Onyx Cup Series as more than just a one-off string of tournaments. The site has already made it clear that this is a long-term project that is fully supported by a group of dedicated people who are determined to make the series a hit not only with the players, but with the viewers at home, as well.

Despite the fact that not a single card has been dealt, the site is already planning for Season 2, which will feature an increased number of events and new locations. As an incentive to the players, Full Tilt is working with its casino partners to assist in attracting nonprofessional high rollers to the series. With a slew of notables already geared up to play, and a made-for-TV format, the Onyx Cup Series is sure to stay.

Onyx Cup Series Dates
Event Location Dates Buy-In
1 Las Vegas May 11-12 $100,000
2 Las Vegas July 7-8 $100,000
3 Asia Sept. 10-11 $100,000
4 Asia Sept. 11-12 $300,000
5 Europe Oct. 17-18 $100,000
Grand Finale Las Vegas Early December $250,000