Full Tilt Poker Announces Onyx Cup Series

On Monday, Full Tilt Poker announced the creation of the Onyx Cup, a series of high-stakes live events that will determine the best player amongst poker's elite.

Buy-ins for these events will range from $100,000 to $300,000 and the series will have a total prize pool of up to $30 million.

The top three players in each event will receive points towards the Onyx Cup and at the end of the season the player with the most points will receive both the Cup and a luxury sports car.

Said Full Tilt Poker pro Erik Seidel about the new series:

"There's never been a tournament series like this, where it's just the elite of the elite. It's going to get everybody's blood flowing."

When asked about playing an Onyx event, poker legend Phil Ivey added:

"It's not just about the money in this event. 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."

The Onyx Cup series will be comprised of six No-Limit Hold'em tournaments in the U.S., Europe, and Asia.

The tournaments lead up to a $250,000 buy-in Main Event with $1 million added to the prize pool.

Events will also be "made for television" and will be broadcast in 20 languages and in 40 different countries.

The first event is scheduled for May 11 and 12 in Las Vegas.

Anyone that can afford the buy-in can play, but players can also qualify on Full Tilt Poker starting on March 15.