If you are interested in playing in this tournament there is a good chance that rakeback is the least of your concerns given that the IPPA Championship has a first prize of $5m is limited to 48 players and has a buy in of $250,000. This is not your average tournament and it is definitely a tournament where you don’t want to be the bubble boy.

The satellite structure for this event is extremely interesting because of the fact that the structure has never been used before. The satellites are using an equity rebuy structure where the initial buy in is $1,000 and the player that wins the 10 man shootout on the table receives $1,000 back. The other nine players then have the opportunity to rebuy for $9,000 which is the equity of each seat:

$10,000 minus the $1,000 divided by 10 = $9,000.

If you win the next round of shootout tables you then receive $9,000 to take your total winnings to $10,000 plus your shot at the $250,000 buy in.

The real excitement then starts with $12,000,000 up for grabs in Monte Carlo between November 29^th and December 2^nd. There is a first prize of $5m and some of the world’s best poker players have already committed to play:

Patrik Antonius, Phil Ivey, Tom Dwan, Michael and Robert Mizrachi, Huck Seed, Gus Hansen, Johnny Chan, Freddy Deeb, Tony G, Bruno Fitoussi, Allen Cunningham, and John Hennigan are those that have already confirmed.

The founder of the IPPA is the professional player Yosh Nakano who has also worked as the poker manager at the Hustler Casino in Los Angeles. The Monte Carlo IPPA Championship will be televised.

There will be qualifiers held at the Monte Carlo Casino and also at the Bicycle Casino in Los Angeles for those that think $250,000 is quite a lot for a multi-table tournament when you will be playing against the very best poker players in the world.

The event will be televised and it will make for one almighty programme to watch!