For the past eight weeks, daily fantasy sports leader DraftKings has handed out a $1 million prize to the winner of its flagship Millionaire Maker fantasy football tournament.

Another millionaire will be created by DraftKings this weekend, but this time it will take place during a LIVE event at the beautiful Atlantis Resort in the Bahamas!

The first annual King of the Beach contest will take place on Sunday, Dec. 7 at the Aura Nightclub in Atlantis. A total of 50 packages were awarded to this exclusive live event with a total prize pool of $2.5 million up for grabs. Each of the contestants earned their trip to the Bahamas by winning a qualifier on DraftKings leading up to this exciting event.

If you're new to daily fantasy football, here's how the contest will work:

• Participants, some of which won as many as three qualifiers to this event, will be assigned a fixed salary cap of $50,000 that they can use to draft their entire nine-player NFL roster. Teams will consist of the following positions: One quarterback, two running backs, three wide receivers, one tight end, 1 flex position (RB, WR or TE), and one defense.
• The Player Pool will consist of all NFL players participating in the 1 p.m., 4:05 p.m. and 4:25 p.m. games on Sunday. The Sunday night game and Monday night game will not be included in this contest, meaning the $1 million prize will be awarded Sunday evening.
• Contest results and winners will be based on the total points scored across each entrant's nine-player roster.

We're expecting to see around 40 participants in the Bahamas this week as a handful of them won multiple packages and will have the opportunity to vary their lineups for a better shot at the $1 million top prize. Among them is four-time World Series of Poker bracelet winner Daniel Alaei, who won two tickets to the King of the Beach finale under his screen name "livestraddle." Fellow poker players Matt "SamENole" Smith, Peter "dandydon" Feldman and Ray "rayofhope" Coburn are also here. Smith and Coburn already pocketed a $1 million payday on DraftKings during this NFL season and are definitely players to watch in this event.

Another fantasy-sports-made millionaire is Peter "CSURAM88" Jennings, who won the DraftKings Fantasy Baseball Championship here in Atlantis in August. Jennings will have two teams in this weekend's contest and will look to become the first two-time millionaire in the history of the industry.

Jennings is a member of the DraftKings Pro team and will be joined by team members Drew "dinkpiece" Dinkmeyer and Al "Al_Smizzle" Zeidenfeld in this elite field of fantasy sports minds.

PokerNews will be on site bringing you coverage of this event, beginning with the welcome party this evening. Be sure to follow along until DraftKings awards $1 million to one lucky player on Sunday!

Tags: Daily Fantasy SportsDFSDraftKingsFantasy SportsKing of the Beach