A $10 Million Buy-in Tournament in Melbourne

The stakes keep getting higher. If you thought the World Series of Poker's main event, with its $10,000 buy-in was a lot of money, how would you like to pony up 1,000 times that amount as a tournament entry fee? That's a $10,000,000 entry fee, in case you didn't do the math. Well, if that's always been your hidden desire, now you can.

Melbourne's Crown Casino announced Tuesday that it will host the world's richest poker tournament next year - a winner-take-all battle for $60 million.

Six of the world's best card players will compete in the series of elimination matches in July, said the Crown Casino, controlled by the family of Australia's richest man and big-time gambler Kerry Packer.

The players will have to ante-up $10 million to buy into the match, due to be televised around the world through the Fox Sports Network in the United States and other networks in Europe and Asia, Crown chief operating officer Richard Longhurst said.