The White Marlin Open will celebrate its 50th anniversary by giving out its most lucrative purse — estimated at more than $10 million — and introducing a new $50,000 category, tournament organizers announced this week.

The event, which draws anglers and boats from Hampton Roads and northeastern North Carolina, is scheduled for Aug. 7-11 in Ocean City, Maryland.

“It’s remarkable to reflect on 50 years of tournaments, especially back to our first event held in 1974,” tournament founder Jim Motsko said in a statement. “We drew 57 boats, and 150 anglers, and paid $20,000 in prize money.”

Last year’s White Marlin Open drew 408 boats and 3,500 anglers and awarded more than $8.6 million.

The Billfisher, of Ocean City, won the tournament’s biggest prize last year by landing a 771/2-pound white marlin worth $4.536 million — a world record for a fishing tournament catch. That gave the Open’s hometown back-to-back victories after Sushi, also an Ocean City boat, took home $3.2 million in 2021. Sushi’s victory knocked a Virginia Beach angler from first place in the closing minutes of the tournament.

The 50th White Marlin Open will include for the first time a $50,000 white marlin “Winner Take All” category. That adds to the prize money for catches of white marlin, blue marlin, tuna, wahoo, dolphin and swordfish.

The tournament, dubbed “the World’s Largest Billfishing Tournament,” has awarded more than $95 million since it began in 1974.