Full Tilt Poker has recently announced that they will begin to hold a $250K guaranteed tournament on the first Sunday after the 15th of each month. The buy-in to these big events will be 5000 Full Tilt Points. These tournaments are now the only ones on Full Tilt Poker where you can turn your Full Tilt points into cash. The tournaments will have a 12000 player cap and the top 900 places will be paid. First place is just over $26K and the 450-900 place finishers all receive just over $60. You will also be able to satellite your way into these 5000 FTP tourneys for as little as just 50 points. If the tournaments do cap out, which I expect them to, each seat will be worth approximately $21.
This tournament is very similar to the current PokerStars monthly $1M Turbo Takedown where all players must buy-in with just FPP’s. Just because it’s a stolen idea though, doesn’t mean it’s not a good one. I really like the sounds of this tournament because it gives all players a chance to turn those FTP’s that they don’t know what to do with into potentially a lot of cash.
The first tournament of this nature will be held on June 21st at 2:15pm EST. There are already many Full Tilt pro’s entered including Gavin Smith and Lee Watkinson. If you aren’t signed up at Full Tilt Poker yet you should download Full Tilt Poker now and start earning Full Tilt Points. If you don’t get enough by the 21st there is always next months $250K guarnateed tourney.