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If you are a tournament player dreaming of a 6-figure score, but you don’t have the bankroll to play the usual Sunday Major tournaments on PokerStars, you won’t want to miss the PokerStars Red Spade Open. This exclusive tournament has a guaranteed prize pool of $1,000,000, but its buy-in is just $55!

To play the first ever Red Spade Open, you will need to be at your computer on Sunday July 31st at 15:00 ET. The tournament replaces the Bigger $55 for just one week. To find the tourney in the lobby, simply select ‘Tourney’ and then the ‘Special’ tab. You can also type “red” into the tournament filter.

Since the first place prize will be at least $200,000, you can bet that a huge number of PokerStars pros will be in the field. To make it even more interesting, each member of Team PokerStars will have a $100 bounty placed on his or her head. PokerStars Pros are indicated by the red spade logo next to their names at the table. Simply bust a pro and $100 will be deposited into your account, no strings attached!

If you find $55 a little too rich for your blood, there are plenty of ways to satellite into the event. You can play satellites for as little as $1.10. There are also $0.55 turbo rebuy satellites with guaranteed prize pools.

Some quick math tells us that in order for the Red Spade Open to reach its guarantee, it will need to host a minimum of 20,000 people. This seems like a staggering number, but if any site can do it, it’s PokerStars!

If you can’t make it this coming weekend, don’t be too discouraged. If the first Red Spade Open is a success, there is a huge chance that we’ll be seeing it again in the near future.