World Series of Poker officials and Guy Lalibert announce plans for a special new event in 2012. The new tournament will have the biggest buy-in of any poker tournament ever at $1 million with 11% of each buy-in being donated to One Drop, a Montreal based non-governmental organization that pushes for access to clean water in Third World countries.

The event will have a three day duration with slow blind climbs the first day then accelerate on day two as they approach the final table. The tournament will pay out the top 20% of finishers. The winner will receive a special platinum bracelet in addition to their first place prize.

Caesars Entertainment Corp. will be entering two players into the event through promotions, "one through a smaller tournament that awards an entry fee and another through a separate casino promotion."

A total of 15 high profile players have indicated they will be playing the event with a max capacity of 48 players. If 29 or more players play, it will constitute not only the largest buy-in ever, but also the largest prizepool poker tournament ever.

Confirmed players:

Guy Laliberte
Phil Ruffin
Bobby Baldwin
Tom Dwan
Daniel Negreanu
Patrik Antonius
Gus Hansen
Tony G
Johnny Chan

Andy Beal, of playing "the Corporation" fame, is committed to playing the exclusive high profile event along with a couple high profile businessmen who asked to remain anonymous for now. Two European companies, Lotto-bet and another, will host a series of promotions and qualifiers to find two other entrants.

“A million dollar buy-in seems crazy, and well, it is, but when you factor in a great cause like ONE DROP getting a percentage of the prize pool, all of a sudden it seems like a fantastic idea, and a great way to raise money for charity,” said Canadian poker pro Daniel Negreanu. “Count me in.”

“ONE DROP is an extremely intelligent, important charity organization and I'm honored to play a part in giving back,” said businessman and poker pro Tony Guoga. “This is a perfect partnership for the WSOP and for poker in general.

“I am buying in,” exclaimed young poker professional Tom Dwan. “$1 million has a nice ring to it. It’s so sick, and for such a good cause, now I just gotta win.”

The eight player will continue play Thursday at 3 p.m. Pacific at the Rio in Las Vegas, Nevada. U.S. television network ESPN intends to televise this event as part of its coverage of the 43rd Annual World Series of Poker in 2012.

The BIG ONE for ONE DROP is an unprecedented effort to raise awareness of water-related issues amongst the poker community and to raise funds to allow ONE DROP to continue to deliver on its important mandate. Funds will be directed to ONE DROP projects around the world, where the team is hard at work dealing with the local water crisis. It is the belief of the organizers that this event will attract high-net-worth individuals from all over the globe and across a wide range of businesses and occupations with charity and notoriety in mind.

$1 Million Buy-In Tournament Announced by the WSOP