It’s a fair bet most investment bankers and traders will not have much reason to cheer this year’s bonus season, but one of their most popular pastimes could leave them flush with cash, as a London futures trader launches an exclusive poker tournament where the prize fund can reach up to £1m (€1.1m) per event.

The Buffalo Club is a series of poker tournaments to be held in London. The first event is scheduled for March 31, and there are a further six events planned for this year, one of which will be a flagship event likely to take place offshore or overseas, perhaps on a yacht, according to its founders.