It is the biggest guaranteed prize pool partypoker has ever run and puts Powerfest on near-equal footing to PokerStars' flagship annual tournament series, SCOOP.

The next Powerfest online tournament series will have a staggering $40 million in total guaranteed prize pools, partypoker announced on Wednesday.

It is the biggest guaranteed prize pool partypoker has ever run and puts Powerfest on near-equal footing to PokerStars’ flagship annual tournament series, SCOOP, which is slated to run over the same dates next month.

“January was first time we trialed the Mi L M H format and therefore we were relatively prudent with event GTEs,” a partypoker representative told PRO. “The May Powerfest retains the Mi L M H format but is more closely paired with the Power Series this time. The changes to the Power Series over the last few weeks have resulted in significant growth in our MTTs and therefore we are able to be more aggressive this time and convert a number of the successful Power Series MTT formats into festival events.”