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Introduction:
The object of a tournament is to win all of the chips. All tournament players
start out with the same quantity of chips to play with and all start playing
at the same time. Players play until they lose all of their chips and are then
removed from the table. The tournament continues, often for several hours,
until only one person remains. As play progresses the stakes rise making it
more and more difficult for players to remain in the game.
Players are awarded prize money based on their finishing position in the tournament.
The top finishers earn the most money with the winner usually receiving about
30% of the prize money, second place about 20% and so on. The number of players
receiving prize money and the amount each receives depend upon the type of tournament
and the number of entrants.
When you enter a tournament, the buy-in is typically listed in the form of “$10
+ $1”. This means that you will have to pay $11 to enter the tournament.
Of this, $10 goes into the prize pool, and the casino / poker site keeps $1 as
your entry fee for playing the tournament.
Sit and Go
Tournaments
There are two main types of tournament online. The first category is Sit
and Go Tournaments (also called Single Table Tournaments). These tournaments
usually feature 10 players (although 5 player and 2 player – heads up –
tournaments are also available) and start as soon as the table
is full; they have no specified start time. All players start
with the same number of chips, usually 1,500 with the blinds
starting at a low level (5/10 or 10/20) and increase at pre-set
time intervals. Play continues until one player has all the
chips, with the players ranked in the reverse order of elimination.
The typical pay structure for a ten player tournament is 50%
of the prize pool for first place, 30% for second place and
20% for third place.
Multi
Table Tournaments
The second and more popular type of tournaments are Multi Table Tournaments. These
tournaments consist, as the name suggests, of more than one table with players
at numerous (there is no maximum number of entrants for a Multi Table Tournament)
tables competing for one another’s chips as the blinds and/or antes increase
incrementally. As players are eliminated, tables are “broken”, meaning
players are re-assigned to keep tables full, or even with one another. Eventually,
the last few surviving players with chips are assigned to the final table, where
the eventual winner is the individual who wins all the chips from his or her
opponents. Cash prizes are awarded to the top finishers based on the number of
tournament entries. As in single table tournaments, the blinds increase on pre-set
intervals, usually once every 10 or 15 minutes.
Re-Buys and
Add-Ons
In some tournaments players are given the option of buying more chips during
the tournament:
The Re-Buy option allows players (for a set length of time – usually
the first hour of the tournament) to purchase more chips when they run out or
go below the amount of chips they started with. Some tournaments allow unlimited
Re-Buys during the Re-Buy period of the tournament while others allow only a
set number (usually 1 or 3) of Re-Buys.
The Add-On option is similar to the Re-Buy option, but is offered only once at
the end of the Re-Buy period and can be used regardless of how many chips you
have.
All proceeds from Re-Buys and Add-Ons are added to the prize pool.
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