$60 million prize pool to set records

The world's biggest prize pool will be offered up next year in Australia in what is being regarded as the world's richest poker game. The event will see six top players fork over a $10 million buy-in to compete for the record-breaking prize pool.

The tournament will take place at the Crown Casino in Melbourne, Australia on July 12 and is expected to run for at least six hours, possibly ten. It is rumored that pro player and tournament champion Phil Ivey has signed on, along with 2005 World Series of Poker (WSOP) winner and Australian citizen Joseph Hachem. Other players will be announced at a later date.

The tournament will be broadcast on Fox Sports Net (FSN). "This event will transcend poker in the United States and take on a global platform," said George Greenberg, FSN vice president of programming and production. "It'll be the largest single payday in the history of sports and will turn the poker world on its ear."

Two more events are scheduled to take place in 2007 and 2008, boasting even more astonishing prize pools: $75 million and $100 million respectively.