$1 Million Buy-In Charity Event at 2012 World Series of Poker to Award BraceletHandful of Players React to News |
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At the 2012 World Series of Poker Cirque du Soleil founder and high-stakes poker player Guy Laliberté will run a $1 million buy-in charity tournament to support access to clean water for those around the world who lack it.
The Big One for One Drop has commitments from 22 players so far, making it an official bracelet event, according to a WSOP press release.
The list of players includes the likes of Laliberté, Bobby Baldwin, Phil Ruffin, Andy Beal, Patrik Antonius, Gus Hansen, Daniel Negreanu, Johnny Chan, Tom Dwan, Tony Guoga, Jonathan Duhamel, Bertrand Grospellier, Sean O’Donnell and Daniel Shak.
About $110,000 of each entry fee will be donated. The event is rake-free.
Despite the noble cause, there was some concern in the poker community in regards to awarding a bracelet in an event that few could afford to play.
Poker pro Allen Kessler was one of those who questioned the decision.
“Well, [the WSOP] eliminated rebuys because they thought it was like buying a bracelet. In this theory the tournament is like buying a bracelet, because there are probably only 50 in the world that would consider playing this tournament. So, I think it should be a prestigious event but not a bracelet event.”
Negreanu, already near the top of the all-time tournament money list, could nearly double his total by winning the $1 million buy-in event. He shares a similar sentiment with Kessler.
“It’s a special event but it definitely excludes a large percentage of people,” Negreanu 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.”
Online cash game pro Andrew Brokos pointed out how making the event attractive for potential players increases the take given to charity.
“I used to work in the nonprofit sector and have done my fair share of fundraising. You learn to be pragmatic,” Brokos said. “I can certainly understand why a $1 million buy-in tournament might seem obscene when juxtaposed with the plight of those who don’t even have access to clean drinking water, but ultimately it’s raising more than $2 million for a good cause, and it’s hard to argue with that.”
Long-time poker player Terrence Chan was critical of the argument that a $1 million buy-in is too large
“I think it’s patently ridiculous that there are some poker superstars who are up in arms about this tournament being a bracelet event because its high buy-in excludes so many people,” Chan said. "It kind of shows how removed from reality they are when they don’t realize that even $10,000 buy-in tournaments seem gigantic for the vast majority of poker players worldwide.
“It’s like these people think they have a god-given right to play the largest poker tournament in existence, and if there’s one that’s larger, they have to hate on it.”
This summer at the WSOP there were nearly 60 events, including a $50,000 buy-in mixed game tournament, a $500 casino employees event, a $1,000 ladies event and a $1,000 seniors event, all of which awarded bracelets.
In light of a tough 2011 for poker, some of the game’s best see the charity event also as a way to help poker’s image.
“As a professional poker player I can tell you that what is good for poker is good for me,” Matt Glantz said. “I have enough faith in my colleagues that they will eventually come to realize that any type of positive exposure for the game of poker is also in their own best interest. The fact that this tournament is a WSOP bracelet event clearly increases the positive exposure for the game that we all love.”
Follow Brian Pempus on Twitter — @brianpempus
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