Singapore Hosts First International Poker Tournament

Singapore began hosting its first international poker tournament this Sunday, in cooperation with British betting exchange Betfair. Players from 32 countries, including Singapore, will compete for the $2 million prize pool. More than 370 participants from all over the world will take place in the tournament's main event and will pay its $5000 buy-in, which will take place at the Meritus Mandarin Hotel on Wednesday.

Singapore lifted its four decades long ban on casinos last year and announced plans of building two casino projects that would increase tourism and contribute to the city-state's economy. Public gambling in Singapore is still illegal but the Singapore Tourism Board has positioned the poker tournament as a sport.

Las Vegas Sands was the first company to be issued a license to build the first casino. The second company will be announced next month.

The tournament's $2 million prize makes it the biggest ever poker tournament in Asia.