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Remember when a one million dollar first prize in a poker tournament was mind blowing? Well, how about a one million dollar buy-in? It will happen next year, at the 2012 World Series of Poker (WSOP). Both a real bracelet event and a charity tournament, the “Big One for One Drop” will run from July 1st through July 3rd and may end up featuring the largest first prize ever awarded in a poker tournament.

The tournament is the creation of Guy Laliberté, founder of Cirque du Soleil and Chairman of the charitable organization ONE DROP. Laliberté went to Caesars Interactive Entertainment CEO Mitch Garber with the grand plan earlier this year. He wanted to use the platform of the WSOP to bring both attention and funds to the global problem of the lack of access to clean, usable water for nearly a billion people. He figured the spectacle of a million dollar buy-in event combined with the generosity of poker players would work well.

ONE DROP’s mission is “To fight poverty by providing access to water and raising awareness among individuals and communities about the need for mobilization in order to make safe water accessible to all, in sufficient quantity, today and tomorrow.”

One-ninth of the buy-in, or $111,111, will go towards ONE DROP, with the rest going to the prize pool with no further rake taken.

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Among the first players to commit to the event were 2010 WSOP Main Event champ Jonathan Duhamel and Bertrand “ElkY” Grospellier, both of whom stepped up to the plate at during the November Nine festivities this year.

“I am absolutely thrilled to participate in the biggest poker event ever organized,” said Duhamel. “One million dollars is a lot of money but my participation comes naturally, being a spokesperson for ONE DROP and because of my attachment to such a great cause. Life starts with water and because of its uneven distribution, a person dies every 20 seconds. The Big One for One Drop will raise $111,111 per participant, which will definitely prove the poker community attachment to ONE DROP. As for me, I personally commit to give 5% of my winnings from this tournament to ONE DROP.”

So far, 22 players have committed to playing in the event, which is coincidentally the same number of players needed for the Big One for One Drop to be considered an official bracelet event. And rather than the standard gold bracelet, a special platinum bracelet will be created just for this tournament.

As it stands currently, the prize pool is just over $19.5 million. The exact payout structure has yet to be announced, but 20 percent of the field will make the money, which is twice the usual for a WSOP event. The event will have a maximum registrant cap of 48 players. It is expected that when all is said and done, the first prize will be the largest ever for a poker tournament, eclipsing the current record of $12 million, won by Jamie Gold at the 2006 WSOP Main Event.

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The following players have committed to play in the Big One for One Drop (not all players have permitted the WSOP to publish their names):

Guy Laliberté
Bobby Baldwin (CEO of MGM-Mirage Resorts and four-time WSOP bracelet winner)
Phil Ruffin (owner of Treasure Island Resort of Las Vegas)
Andy Beal
Patrik Antonius
Gus Hansen
Daniel Negreanu
Johnny Chan
Tom Dwan
Antanas “Tony G” Guoga
Jonathan Duhamel
Bertrand “ElkY” Grospellier
Dan Shak
Montreal Group seat (organized by Sean O’Donnell, friend of Laliberté)
Loto-Québec satellite seat
Caesars satellite seat
European satellite seat

Players are, of course, still able to register for the event, though the million dollar buy-in is due 14 days before the tournament starts. ESPN plans to include the tournament as part of its 2012 WSOP broadcast.

Professional poker player Antonio Esfandiari wins the 2012 Big One for One Drop poker tournament event that featured a $1 million dollars buy-in. Photo by: Joe Giron / WSOP

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23 poker players have already confirmed their entry into the $1 million dollars buy-in Texas No-Limit Hold’em tournament at the 2014 World Series Of Poker in Las Vegas, Nevada, USA. The event is called the Big One For One Drop and it took place for the first time during 2012. During 2014 the World Series Of Poker has announced the return of the popular event which is already half sold out even considering the massive $1 million dollars buy-in cost to participate. The special 2014 Big One For One Drop event will be reserved on a first-come, first-serve basis. A deposit is required to guarantee a player's seat. The winner of the tournament will receive a special edition WSOP platinum bracelet by famed jeweler Richard Mille. The Big One For One Drop event is open to anyone 21 years or older and who has $1 million dollars to play against some of the best tournament poker players in the world.

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This event is designed to raise money for charity. The buy-in is $1 million dollars which remains the largest ever in history for any poker event in the world. $111,111 dollars of each player buy-in is taken out of the prize pool as a charitable donation to the ONE DROP foundation. $888,889 dollars goes directly into the prize pool which is awarded to the players. This style of poker tournament is a new development by the World Series Of Poker and it has proven to be a success. In the first year $5.3 million dollars was raised for the One Drop charitable organization.

Defending 2012 champion Antonio Esfandiari states in a press release 'I can’t wait to defend my title, the event was life-changing, but so was my trip to El Salvador after it with the ONE DROP organization to see first hand what a difference the money raised from this event can do for those in dire need of help.”. After winning the very first event for just over $18.3 million dollars, Antonio Esfandiari became the all time money winner on the WSOP list at $21 million dollars. He continued to play poker on the various circuits during 2013 and 2014 leading up to his title defense in Las Vegas, Nevada, USA.

There are a total of 56 seats available at this upcoming 2014 event. The list of committed poker players so far is:

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1. Antonio Esfandiari
2. Guy Laliberté
3. Bobby Baldwin
4. David Einhorn
5. Phil Galfond
6. Philipp Gruissem
7. Phil Ivey
8. Jason Mercier
9. Paul Newey
10. Bill Perkins
11. Vivek Rajkumar
12. Brian Rast
13. Andrew Robl
14. Erik Seidel
15. Brandon Steven
16. Sam Trickett
17. Noah Schwartz
18. Anonymous Businessman
19. Anonymous Businessman
20. Anonymous Businessman
21. Aria Resort Satellite Seat
22. Bellagio Resort Satellite Seat
23. World Series of Poker Satellite Seat

The Big One For One Drop event is set to start on June 29, 2014 at the Rio Casino at World Series Of Poker in Las Vegas, Nevada, USA.

World Series Of Poker chips laying loose on the playing table. Photo by: Jonathan Boncek / World Series Of Poker - Caesars Entertainment