On Tuesday, Caesars Entertainment released a press release regarding the upcoming Monte-Carlo One Drop Extravaganza. The event will be held from October 13-17, 2016 at the Casino de Monte-Carlo, Monaco and will feature the largest tournament buy-in in poker history.
As has already been well publicized, the €1 million Big One will be “recreational players only” with pros only allowed to serve as coaches or play in side tournaments and cash games. The exclusion of pros was done to entice wealthy amateurs to play in the event and so far it seems to be working.
According to the press release, there are 35 players already committed to playing the event. The question now is whether that number will grow and just how large of a prize pool will those players be fighting for.
35 Players Already Confirmed – Will They Crack 40 or More?
According to the press release, there are 35 players already committed to playing in the €1 million Monte-Carlo Big One for ONE DROP. According to the structure sheet, the event will pay just 6 players and €11.57 million to first should nobody else register.
If five more players register, the final eight players receive at least €1.5 million and first place get €14.37. The structure changes again if 50 or 60 players register. Realistically, at this point I think we will be lucky to see anything more than 40 players register for this event. While I would love to see a field of 60 or more players take to the felt, I don’t see that happening without pros being involved.
Of course, I may be fooled if some of these players decide to pony up an additional buy-in or two. There is unlimited re-entry until the start of Day 2. Who knows, perhaps the re-entry component will push the figure past 50 or more.
Solid Schedule of Tournaments and Cash Games Offered
Including the Big One, there are eight tournaments scheduled for the ONE DROP Extravaganza. The €1 Million Big One for ONE DROP kicks off on October 14th along with a €10k NL Hold’em and a $10k PLO.
On the 15th, you have a €25k NL Event and a €10K NL/PLO 6-Mx. The 16th will feature the final table of the Big One as well as a €10k NL Six-Max and a €50k Heads-Up NL tournament.
The final day of the ONE DROP Extravaganza (Oct 17) will feature a €100k NL Event as well as the €1 million High Roller Cash Game.
Satellites for events with buy-ins of €25k and up will be available. October 13 is satellite day for the Big One with a €10k, a €50k and a €250k satellite available.
For pros that prefer to play cash games over tournaments, there will be plenty of cash game action as well. Games will be spread in NL Hold’em, PLO, OFC, Pineapple OFC and a Mixed Game.
Limits for NL and PL will range from 25-25 to 1k-2k. For OFC games, limits will range from 100/pt to 5,000/pt. Finally, the Mixed Game will have limits from 300-600 to 20,000-80,000.
Players will pay time in these games rather than a per pot rake. The amount varies for each game. The minimum rake is €50 per 30 minutes, or €100 an hour. The maximum rake for any table, including the €1 million cash game is €150 per 30 minutes or €300 an hour.
Would You Invest in One Drop Players?
As mentioned in the press release, fans can signup at YouStake to invest in players from the One Drop. This begs the question; would you invest in players for the One Drop? The first thing I want to know is whether we will have anyone in the “Big One” or if they will be pros that will be playing in cash games and the side events.
What if there were a few packages on the site for the €1 Million event? How much would you invest for a shot at a piece of €11.57 million? Further more, do you want to risk backing someone that you know next to nothing about their game? I guess it depends on how much disposable income you have to throw at backing.
Personally, I’d stick to backing some of the pros in side events or even cash games. I would love to get a piece of someone like Galfond, Polk or another solid cash game pro. Ya, it would probably be .000000000000001 percent or something silly but it would add to the sweat factor.
Some Lucky Pros Will Get Variance Free Income
One added benefit of playing in the Big One is that players will be paired with a pro player as a coach. The coach will receive 2.5% of any money that a player wins above the initial buy-in.
Based on the number of players currently registered, that means that at least six lucky pros will get some variance free income. The coaches will pocket anywhere from €12,500 to €264333.33 for up to three day’s worth of their time. Of course, my gut tells me that some or most of these pros will end up “donating” their coaching fee to ONE DROP.
Charity is the Big Winner but the Bracelet is Nice
As is customary for ONE DROP events, a portion of each buy-in will go to the charity to provide clean water to needy countries. For every €1 million in the prize pool, €111,111 will go to ONE DROP.
As stated earlier, first place in this event will receive at least €11.57 million but that number will certainly grow as more players enter and reentries are collected. Right now, ONE DROP is scheduled to get at least €3.88 million in donations before the first cards are dealt.
Regardless of what happens, ONE DROP will be the big winner in this event and that’s what the charity’s founder Guy Laliberté intended all along.
However, the winner of this event won’t do too badly either. In addition to the first place prize money, they will receive a hand-crafted platinum bracelet from famed jeweler Richard Mille. While it won’t be an official WSOP bracelet, it will certainly be the next best thing.