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Full Tilt Plans ONYX Cup Big Buy-in Elite Tournament Series
Although full details were not released, Full Tilt Poker announced its intention to run a big buy-in tournament series designed to pit poker's elite against one another Monday.
The ONYX Cup Series will feature six No-Limit Hold'em events with buy-ins ranging from $100,000 to $300,000 in locations across the United States, Europe and Asia.
The series will culminate with a $250,000 buy-in Grand Finale with $1 million added to the prize pool and feature a points-based season-long leader board, the winner of which will be crowned ONYX Cup champion and be handed the keys to a luxury sports car.
Full Tilt estimates the total prize pool across all six events will reach the $30 million mark.
The events will be filmed for broadcast in 20 languages across 40 different countries and are expected to attract the best of the best.
"It's not just about the money in this event," said Phil Ivey. "It's more about playing against the caliber of players we'll be up against, playing against the best players.
"There's going to be a lot of pride that comes with winning this type of event."
Online qualifying for the ONYX Cup Series will run exclusively on Full Tilt beginning March 15.
The first event is scheduled for May 11 and 12 in Las Vegas with details about dates and other specific locations forthcoming.
"There's never been a tournament series like this, where it's just the elite of the elite," said Erik Seidel. "It's going to get everybody's blood flowing."