A leading figure in the poker industry has claimed that the prestige of a poker tournament is largely based on the prize pool.

Alan Bowden, editor of InsidePoker magazine, stated that any new event or competition needs to establish itself early on.

However, he went on to note that the prestige of a tournament is often directly related to the prize money in reality.

His comments come after the fifth season of the European Poker Tour (EPT) started earlier this autumn, prompting Mr Bowden to say that it has worked hard to cement its position on the poker calendar along with World Series of Poker (WSOP) events.

Mr Bowden said: "The more the money, the more the prestige. You see that with the WSOP. It has got the biggest prize draw, it's got the most prestige."

The EPT is currently in Hungary at the Las Vegas Casino in Budapest and it has a maximum field of 500 players.