Tournament champions currently win the Earl Anthony Trophy, named in honor of the late PBA legend who won this title a record six times (1973–75 and 1981–83).
Thus, the current tournament is open to any PBA member who also enters the World Series of Bowling.
The qualifying rounds of the tournament were contested August 31 – September 4, with the televised finals being broadcast live on ESPN December 13, 2009.
The World Championship finals were televised live over three consecutive days (January 14–16, 2011), a PBA first.
Total pinfall from all 64 qualifying games, including 30 bonus pins for head-to-head match play wins, determines the five players that advance to the televised finals.