FLW Outdoors and chairman Irwin Jacobs have teamed with Wal-Mart and other major sponsors in an attempt to make fantasy fishing as popular as fantasy football and baseball.

While the concept is not original (ESPN and BASS teamed to provide fantasy fishing to contestants in conjunction with the BASS tournament schedule last year), the amount of prize money certainly is unique. FLW Outdoors has promised to distribute at least $1.7 million in cash prizes, with the cumulative points winner picking up a guaranteed $1 million first prize.

In addition to the $1 million overall prize, FLW Outdoors is also giving away $100,000 to the winner of each of the seven events on the schedule for this season. Along with the cash prizes, FLW Outdoors is giving away gift cards to Wal-Mart, gas cards for BP and other interesting prizes. For a full prize list, click here.

FLW Fantasy Fishing consists of seven events offered in conjunction with the Wal-Mart FLW Tour. There are six regular-season events and one championship tournament.

Each event allows contestants to create a team of ten pro anglers that they think will earn the most points in that particular Wal-Mart FLW Tour event. If your team accumulates the most points for that tournament, then you’re the winner of $100,000. Each regular-season event offers 585 prizes to fantasy winners, while the Forrest Wood Cup in August awards prizes to the top 639 fantasy fishermen.

And, as an added bonus, FLW Outdoors is offering a chance at an extra $5 million if you sign up before Jan. 31 and correctly guess the top seven anglers, in order, for the Wal-Mart FLW Tour final standings.

If you’re interested in attempting to become the newest millionaire, then I’d recommend checking out the 2007 Wal-Mart FLW Tour Standings to become familiar with the anglers on the tour. Scott Suggs, Luke Clausen and Bobby Curtis are some of the top names on the Wal-Mart FLW Tour, so keep those names in mind when picking your team.

I know that fantasy fishing doesn’t exactly sound like the most interesting way to spend your time, but think about the millions of dollars you could win by spending about ten minutes to select your team for each of the seven events. The events occur about once a month from February to August, so make it a point to set aside the time to try to become a millionaire. I know I’ll be trying and if I win, then maybe you’ll be pulling for me in next year’s event because I’ll have plenty of time to fish if I don’t need to work.