Written by Thomas | Tuesday, March 15th, 2011

Full Tilt Poker has announced a new tournament series that is sure to be a big hit with online poker players. The Onyx Cup Series is the latest live tournament to be created by Full Tilt Poker and it will see the top poker players in the world competing for an estimated prize pool worth $30 million.

The new poker series will have buy-ins starting at $100k and each tournament of the series will give out points. Points are rewarded based on the place a player finishes and that will place them in their appropriate seat on the leader board.

Players who are at the top of the leader board at the end of the first five events will then qualify for the Grand Finale which will have a buy-in of $250,000 and it will take place in December in Las Vegas. The winner of the Grand Finale will be named the champion of the Onyx Cup Series and the winner will earn a trophy with their name engraved on it as well as bragging rights of being the first person to win the new poker series.

The Onyx Cup Series will take place in a certain format. The tournament will see players competing in eigh- handed tables and there will be shot clock style play. Players will have just thirty seconds to decide to check or fold. Each day of the tournament players will earn three time chips two worth thirty seconds and one worth two minutes. These chips can be used during tournament play to give the player more time with their decision.

Event#1 will kick off on May 11^th and will be followed by event number two in July. Events three and four will take place in October while the final regular event of the tournament will take place in October. The grand finale will be up next and it will take place in December.

Players can earn their seat to the various events of the tournament series by participating in real money qualifiers. These qualifiers will have buy-ins of $640, $1,060 and $2,100. Players can win a prize package to event number one as of right now and more qualifiers will take place in the future.

Players can also participate in satellite tournaments for smaller buy-ins to be able to win a seat to the qualifiers. There will also be free rolls that offer seats to the new event. Players must participate in Round 1 Free rolls to win tickets to Round 2 Free rolls. Then players who do well in round 2 will move on to the final free roll and one player will earn a prize package to an event of the new Onyx Cup Series.

This new tournament series is set to be a big hit. Full Tilt is giving PokerStars a run for their money with this new addition as it is similar to their World Championship of Online poker. Players will be excited to have yet another live tournament option from a large online poker provider and the new tournament is sure to do very well.

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