$10 Million Poker Tournament Scrapped

When word of a $60 million winner-take-all poker tournament was first leaked to the poker world, poker fans and poker players alike all held their breath waiting to see if it would happen. It’s time to exhale as word from Mansion poker and Fox Sports Network has come that the $10 million buy in poker event has been canceled.

Phil Ivey was one confirmed participant and executives at FSN said that they had four others on tap. Each participant was to put up $10 million in a six handed game with the winner walking away with the $60 million prize…

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Poker glossary:

BUTTON - A distinctive token held by the player sitting in the theoretical dealer's position, when a house dealer is used. The button rotates around the table so that every player has an opportunity to be the last to act. Also, "THE BUTTON" can refer to the player who currently has the button. ("I was the button and called the blind".) Synonyms: BUCK, PUCK.
BET FOR VALUE - Betting a hand that, in the long run, is expected to win more than it loses. Antonym: BLUFF.
FREEZE-OUT - A table-stakes game that continues until a small number of players (possibly only one) has all the money. The major event in The World Series of Poker is a freeze-out game.
SMALL BLIND - In games with two blinds the first blind is the SMALL BLIND because it is usually one-half (or less) the second or large blind.
MARKED CARDS - Cards that have been (illegally) altered so that their value can be read from the back.
MIDDLE POSITION - Betting positions approximately halfway around the table from the first player to act.

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