The International Poker Players Association Championship event has the biggest buy-in in any poker tournament, a staggering $250,000. The 48-player event is played in Monaco at the end of November with the winner taking home 5 million. If you don't have the 250k to spare, you can also qualify via live satellites in Monaco or at the Bicycle Casino in Los Angeles, these being played in new format.
Thirteen big money players have already entered the tournament: Patrik Antonius, Phil Ivey, Tom Dwan, Michael and Robert Mizrachi, Huck Seed, Gus Hansen, Johnny Chan, Freddie Deeb, Tony G, Bruno Fitoussi, Allen Cunningham, and John Hennigan.
Players can also qualify for just $1,000 via live satellites in Monaco and Los Angeles. A novelty called "equity rebuy" is used at the qualifiers: The first round is played in 10-handed Shootout tables with the winners getting their $1k buy-in back and advancing to the second round. At this point the players who busted have a chance to make an "equity rebuy" of $9,000, equalling the value of a second-round seat in the qualifiers.
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.