World Poker Tour is the premier name in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online, and mobile. ROI is measured as a percentage based on how much money a poker player wins once buy-ins are subtracted from their winnings. To figure out your ROI, divide your net profit by your investment and times it by 100. For example, let's say you win $15,000 in poker tournaments and paid $12,000 in buy-ins. Your net profit is $3,000. So, $3,000/$15,000= 0.2. How Knockout Poker works. Knockout Poker tournaments are special MTT and Sit & Go tournaments where the prize money is split, with a part going to the overall prize pool, and the other part distributed among players for each opponent they knock out. Unlike traditional MTTs and Sit & Go's, you don't need to finish in the money to earn a cash.
For the last eight years, the largest tournament in the world has been the World Series of Poker Main Event. With the exception of 1992, the US$10,000 buy-in tournament increased in prize pool year-over-year from its start in 1970 until 2007 (the latter a result of the Unlawful Internet Gambling Enforcement Act of 2006, which reduced the number of players winning their seats via online play).
The first tournament to reach a million dollar prize pool was the 1983 WSOP Main Event. The WSOP Main Event of 2004 had the first prize pool of above $10,000,000.
The largest non Hold'em Tournament has been the 2008 WSOP $50K HORSE with a prize pool of $7,104,000 and the first prize of $1,989,120 going to Scotty Nguyen.[1] Gratis casino spins 2018.
Below are the 30 largest poker tournaments with respect to the prize pool in United States dollars and not number of entrants. This list includes live and online poker.
Poker Tournaments Prize Money Payouts
Currently, 14 of the 15 largest prize pools in history have been WSOP Main Events. The second largest prize pool outside of the Main Event is the 2012 WSOP event known as The Big One for One Drop, held from July 1–3. It featured a buy-in of US$1 million, the largest in poker history. Of the buy-in, $111,111 was a charitable donation to the One Drop Foundation, and the WSOP took no rake. All 48 seats available for that event were filled, resulting in a prize pool of $42,666,672, with over 5 million dollars donated.[2] The second largest pool for any event outside of the WSOP was the 2012 Macau High Stakes Challenge, with a HK$2 million (US$260,000) buy-in plus a rebuy option. The event drew a field of 73, of which 21 made a rebuy, resulting in a prize pool of HK$182,360,000 (slightly over US$23.5 million).[3]
All of the 30 richest tournaments to date were played in No Limit Hold'em.
| Event | Prize Pool (US$) | Winner | 1st Prize | Ref. |
|---|---|---|---|---|
| 2006 WSOP Main Event | $82,512,162 | Jamie Gold | $12,000,000 | [4][5] |
| 2019 WSOP Main Event | $80,548,600 | Hossein Ensan | $10,000,000 | [6] |
| 2018 WSOP Main Event | $74,015,600 | John Cynn | $8,800,000 | [7] |
| 2010 WSOP Main Event | $68,799,059 | Jonathan Duhamel | $8,944,310 | [8] |
| 2017 WSOP Main Event | $67,877,400 | Scott Blumstein | $8,150,000 | [9] |
| 2019 Triton Super High Roller Series - Triton Million | $65,660,000 (£54,000,000) | Aaron Zang | $16,775,820* (£13,779,491) | [10] |
| 2019 Triton Super High Roller Series - Triton Million | $65,660,000 (£54,000,000) | Bryn Kenney* | $20,563,324* (£16,775,820) (2nd place) | [10] |
| 2011 WSOP Main Event | $64,531,000 | Pius Heinz | $8,711,956 | [11] |
| 2008 WSOP Main Event | $64,333,600 | Peter Eastgate | $9,152,416 | [12] |
| 2016 WSOP Main Event | $63,327,800 | Qui Nguyen | $8,005,310 | [13] |
| 2014 WSOP Main Event | $62,820,200 | Martin Jacobson | $10,000,000 | [14] |
| 2012 WSOP Main Event | $62,021,200 | Greg Merson | $8,527,982 | [15] |
| 2009 WSOP Main Event | $61,043,600 | Joe Cada | $8,547,042 | [16] |
| 2015 WSOP Main Event | $60,348,000 | Joe McKeehen | $7,680,021 | [17] |
| 2007 WSOP Main Event | $59,784,954 | Jerry Yang | $8,250,000 | [18] |
| 2013 WSOP Main Event | $59,708,800 | Ryan Riess | $8,359,531 | [19] |
| 2005 WSOP Main Event | $52,818,610 | Joe Hachem | $7,500,000 | [20] |
| 2012 WSOP Event 55 – The Big One for One Drop | $42,666,672 | Antonio Esfandiari | $18,346,673 | [21] |
| 2014 WSOP Event 57 – The Big One for One Drop | $37,333,338 | Dan Colman | $15,306,668 | [22] |
| 2016 Monte-Carlo One Drop Extravaganza | $27,437,564 | Elton Tsang | $12,248,912 | [23] |
| 2019 PokerStars NL Hold'em Players Championship | $26,455,500 | Ramon Colillas | $5,100,000 | [24] |
| 2018 WSOP Event 78 – The Big One for One Drop | $24,840,000 | Justin Bonomo | $10,000,000 | [25] |
| 2004 WSOP Main Event | $24,224,400 | Greg Raymer | $5,000,000 | [26] |
| 2012 Macau High Stakes Challenge Super High Roller | $23,511,128 | Stanley Choi | $6,465,560 | [27] |
| Super High Roller Bowl 2015 | $21,500,000 | Brian Rast | $7,525,000 | [28] |
| 2016 WSOP Event 67 – High Roller for One Drop | $19,316,565 | Fedor Holz | $4,981,775 | [29] |
| 2013 WSOP Event 47 – One Drop High Roller | $17,891,148 | Anthony Gregg | $4,830,619 | [30] |
| Super High Roller Bowl 2017 | $16,800,000 | Christoph Vogelsang | $6,000,000 | [31] |
| 2007 WPT Championship | $15,495,750 | Carlos Mortensen | $3,970,415 | [32] |
| 2013 GuangDong Ltd Asia Millions Main Event | $15,376,897 | Niklas Heinecker | $4,456,885 | [33] |
| 2011 Pokerstars Caribbean Adventure | $15,132,000 | Galen Hall | $2,300,000 | [34] |
| * | Due to a prize splitting deal Aaron Zang received £13,779,491 ($16,775,820) for 1st, original payout for 1st was £19,000,000 ($23,100,000). Bryn Kenney received a larger cash prize of £16,775,820 ($20,563,324) for 2nd place. |
Notes[edit]
- ^Hendon Mob
- ^Dalla, Nolan (June 30, 2012). 'The Biggest One—World's Most Spectacular Poker Extravaganza Starts Sunday'. World Series of Poker. Retrieved July 3, 2012.
- ^Peters, Donnie (August 31, 2012). 'Stanley Choi Wins Macau High Stakes Challenge for US$6,465,746'. PokerNews.com. Retrieved October 21, 2012.
- ^'2006 WSOP Main Event payouts'. WSOP. Retrieved 4 September 2017.
- ^Hendon Mob
- ^https://pokerdb.thehendonmob.com/event.php?a=r&n=541550
- ^[1]
- ^wsop.com
- ^http://www.wsop.com/tournaments/payouts.asp?grid=1352&tid=15673
- ^ abhttps://triton-series.com/triton-super-high-roller-series-london-2019/
- ^'PIUS HEINZ WINS 2011 WSOP MAIN EVENT CHAMPIONSHIP'. WSOP. 8 November 2011. Retrieved 9 November 2011.
- ^Hendon Mob
- ^'Level 4 concludes: officially the largest main event in the last five years'. WSOP. Retrieved 4 September 2017.
- ^Poker News Daily
- ^pokernews.com
- ^'2009 WSOP main event prize pool'. WSOP. Retrieved 4 September 2017.
- ^'Event #68: No-Limit Hold'em MAIN EVENT'. 2015 World Series op Poker Chip Counts. World Series of Poker. Retrieved July 15, 2015.
- ^Hendon Mob
- ^'2013 44th Annual World Series of Poker, Event #62: No-Limit Hold'em Main Event'. WSOP.com. Retrieved July 20, 2013. Click on the 'Prizepool' tab for the first prize.
- ^Hendon Mob
- ^Dalla, Nolan (July 3, 2012). 'Antonio Esfandiari Pulls Off Amazing Trick by Winning One Drop'. WSOP.com. Retrieved July 4, 2012.
- ^Hendon Mob
- ^[2]
- ^[3]
- ^[4]
- ^Hendon Mob
- ^Hendon Mob
- ^Hendon Mob
- ^Hendon Mob
- ^Hendon Mob
- ^[5]
- ^Hendon Mob
- ^Hendon Mob
- ^pokerstarsblog.com
Playing tournaments is currently the most common way people now experience poker. I have played in literally hundreds of thousands of them and will tell you exactly how they work.
How do poker tournaments work? Poker tournaments differ from cash games in that each player pays an entry fee then competes to win a portion of the prize pool. During the event, the blind levels increase steadily at regular intervals. A tournament officially ends once one player has all of the chips and is declared the winner.
Now, let's break down every feature and phase of poker tournaments from beginning to end.
How Do Tournaments Differ from Cash Games?
In cash games, the chips represent actual money. So each chip won or lost goes into or comes from your actual bankroll. In tournaments, there is a set entry fee that is paid and, no matter what, that is the most money that you can lose during the event.
Tournament players compete to win a portion of the prize pool, which is made up of all the entry fees.
How Does a Poker Tournament Entry Fee Work?
Every poker tournament has a set entry fee that is the same for all players. The prize pool and the rake (the house fee) are both included in one fee.
Often, the details of the rake are disclosed plainly in how the fee is written.
- If the prize pool portion is $50 and the rake is $5, the entry fee will be disclosed as $50+$5.
10% rake is a fairly standard, however, some smaller live events have rake has high as 30%.
What Is the Difference Between a Freezeout, a Rebuy, and a Reentry tournament?
There are two typical ways that the entry fee of a tournament is structured:
- Freezeouts – A freezeout means that each player can only buy in one time. Once a player runs out of poker chips, his or her tournament is over. This is the most common type of tournament.
- Rebuys – A rebuy means that there is a specified period of time at the beginning of a tournament when players may buy more chips if their stack falls below a certain level or they bust out. The cost of the rebuy is usually the same as the entry fee, minus the rake.
- Reentry Tournaments– A reentry tournament is the same as a rebuy except that a player must be eliminated before buying back in. They also do not get to keep their seat. Instead, it is treated as if it is an initial buy-in and the player is reseated at another table.
What Is an Add-On?
In rebuy events, there is usually a specific number of extra chips offered to players at the end of the rebuy period. This is known as an add-on which typically costs a full entry fee.
How Do Poker Tournaments Pay Out?
Every tournament has a set way that they divide up the prize pool. Almost all tournament payout structures are top heavy. In other words, the top few places usually receive the lion's share of the prize pool.
What is a typical Payout Structure?
The majority of the field in any poker tournament do not win anything. The number of players who 'cash' in an event will vary.
Poker rooms usually payout between 10% and 30% of the field in a multi-table tournament (MTT). For single table tournaments, 33% of the field will typically win money.
Here is a typical payout structure commonly used by poker rooms. It shows what the payouts will be depending on the number of entrants.
MTT Prize Structure Example
| Entries> | 2-4 | 5-7 | 8-12 | 13-18 | 19-27 | 28-36 | 37-50 |
| 1st | 100% | 65% | 50% | 40% | 40% | 33% | 29% |
| 2nd | – | 35% | 30% | 30% | 23% | 20% | 18% |
| 3rd | – | – | 20% | 20% | 16% | 15% | 13% |
| 4th | – | – | – | 10% | 12% | 11% | 10% |
| 5th | – | – | – | – | 9% | 8% | 8% |
| 6th | – | – | – | – | – | 7% | 7% |
| 7th | – | – | – | – | – | 6% | 6% |
| 8th | – | – | – | – | – | – | 5% |
| 9th | – | – | – | – | – | – | 4% |
How to Read the Prize Structure Chart
The top row tells you how many entrants are in an event. The rows below show you what each place will pay based on the number of entrants.
For example, if a tournament had 22 entrants, then you'd use the '19-27' column. Looking down the column you will see that 5 people would be paid out between 9 and 40% of the prize pool.
When Is the Final Prize Pool Established?
- In freezeout tournaments, the final prize pool is established once the initial entry period ends. Sometimes entries are closed at the start of the first deal and sometimes there is a specified period of time when players may buy-in to the event.
- In Rebuys, the final prize pool is not known until the end of the rebuy and add-on period. The final prize pool will always be much higher than it was at the beginning of a rebuy tournament.
How Is the Winner Determined?
The winner of a poker tournament is determined when only one player has all the chips. The last phase before the end is when two players battle it out 'heads-up'.
What are Guaranteed Tournaments (GTD)?
Guaranteed tournaments have a minimum prize pool pre-set before the event. What this means is that if there are not enough buy-ins to meet the guaranteed amount, there is something called an 'overlay.' An overlay means that the event basically begins as if several people had already busted out.
However, poker rooms know exactly how many people tend to sign up for a particular tournament, so they offer guarantees based on the usual prize pool. Therefore, overlays are rare and a guaranteed is effectively just a gimmick used to attract more players.
Even so, knowing the guarantee of a particular tournament is a good tool for professional players to use when planning their playing schedule.
How Are Poker Tournaments Set Up?
Most poker tournaments are played on a 9 or 10 seat table. Only one deck is used if there is a dedicated dealer. If the event is a home game or pub poker tournament, there are often two alternating decks in play. Typically, the player in the big blind will shuffle during the hand.
How Is Seating Determined?
Before play can begin the players must be properly seated. There are three typical methods used to determine seating assignments in a poker tournament:
- Random draw is the most common form of seating found in live multi-table poker tournaments. When a player pays his or her buy-in, the seat assignment is randomly given to the player by the table and seat number.
- Player choice is common in casual pub poker tournaments. This allows family members and friends to sit together to enjoy the game.
- Drawing from the deck is how seating is often determined in a single table tournament. The playing cards are typically fanned out on the table and each player gets a card. The high card gets seat one, the next highest seat two, so on and so forth. Ties are usually broken by either redrawing or using bridge order. Spades>Hearts>Clubs>Diamonds.
How Players Are Re-Seated During Play
From time to time, the number of players on the remaining tables will become unbalanced. You may have 9 people on one table, 6 on another, so on and so forth.
It is the job of the tournament director to make sure that the number of players on every table are as close to equal as possible. Therefore, players must be occasionally moved in order to maintain that equilibrium.
Usually, the director will try to move players 'in position'. For example, if a person was going to be in the Small Blind, they are moved to the same position on their new table. One thing that directors try to avoid is forcing someone to pay the blind on one table and then pay the blinds again immediately upon moving.
Even so, if more than 3 players are moved there will be a redraw at the new table to determine who has the button.
What Is the Structure in Tournaments?
The structure of tournaments will vary from event to event. Here are a few things that must be established in every event:
- The number of starting chips that each player will get.
- The blind level structure.
- How long each blind level lasts.
- Whether or not rebuys or re-entries will be allowed.
- Whether it is a sit and go event or has a set starting time.
Poker Chip Distribution (Starting Stacks)
This is an area where tournaments differ from other forms of poker. While cash games allow players to choose the buy-in they begin with, tournaments have one uniform starting stack size.
Average Starting Stack Size
The number of chips that poker players get at the beginning can vary wildly from event to event. For lower buy-ins and most pub poker type tournaments, the starting chips are usually in the 2,000 to 3,000 range.
Shallow Versus Deep-Stacked Tournaments
Typically, anything below 3,000 chips is considered shallow stacks and anything above 8,000 is usually considered deep-stacked. However, the effective size of the stack is relative to the size of the blinds and how fast they increase.
Poker Tournament Blind Levels
In poker tournaments the blind levels do not remain static. At set intervals, the levels increase.
This effectively decreases everyone stack size and forces the players to constantly try to increase their stacks. Otherwise, they might 'blind out' and not have enough chips to even pay the blinds.
What Are the Typical Blind Levels?
The exact amounts of each blind level can vary quite a bit, but here is a common schedule:
Free Poker Win Prizes
| Level | Blinds | Level | Blinds |
| 1 | 25/50 | 6 | 300/600 |
| 2 | 50/100 | 7 | 500/1000 |
| 3 | 75/150 | 8 | 1000/2000 |
| 4 | 100/200 | 9 | 2000/4000 |
| 5 | 200/400 | 10 | 3000/6000 |
Poker Tournament Speed
Every tournament has a set interval in which the blinds go up. This can range from every 3 minutes all the way up to every 2 hours. In fact, the biggest determining factor on how shallow starting stacks are is in how fast the blinds go up.
Also, hands played per hour has an impact on tournament speed. Live events play much slower than online tournaments. Therefore, the blind intervals have to be treated differently when figuring out speed.
Tournament Speed in Live Events
At most, you usually play about 30 hands per hour in a live tournament. This doesn't give you much time to pick up premium hands if blinds are going up quickly. With that in mind, here is a commonly accepted breakdown of live tournament speed:
| Tournament Categories | Blind Level Intervals |
| Slow tournaments | Greater than 1 hr levels |
| Average tournaments | 30 to 45 minute levels |
| Fast tournaments | 20 to 25 minute levels |
| Turbo tournaments | 15 minute levels |
| Hyper-Turbo tournaments | Less than 15 minute levels |
Tournament Speed in Online Events
Magik slots bonus code 2020. Online, you can usually see between 60 and 90 hands per hour. This dramatically changes the calculations for tournament speed. Slow tournaments are blind levels of 30 minutes or longer while 15 minutes is average speed. Turbos are typically 5 minutes while hyper-turbos have 3 minute blinds.
Tournament Strategy Is Largely Affected by Speed of the Blinds
Ultimately, tournament speed is controlled by how big your starting stack is and how fast the blinds go up. One way to look at it is to figure out how fast you will blind out of the tournament if you never played a single hand. This 'patience factor' is helpful in deciding both what hands to play and how to play them.
One of my favorite authors, Arnold Snyder, explains these calculations in his popular book titled Poker Tournament Formula (click to see Amazon listing). I highly recommend it if you want to improve your tournament speed play.
Poker Tournament Types
There are two basic types of poker tournaments:
- Multi-Table Tournaments (MTT)
- Single-Table Tournaments (STT)
When Does a Tournament Begin?
- Scheduled – Scheduled tournaments have a set starting time.
- Sit N Go – Sit N Go (SNG) tournaments only begin once a certain number of plays have registered and 'sat down'. Most SNGs are single table events and are often associated with satellites. However, two-table up to 5-table events are common as well.
How Long Does a Poker Tournament Last?
No matter what format, all tournaments are designed to play out until there is a winner. Generally, the winner is determined when one person has won the heads-up match and has all the chips.
Ways Tournaments Can End Early
- In freezeout tournaments, the final prize pool is established once the initial entry period ends. Sometimes entries are closed at the start of the first deal and sometimes there is a specified period of time when players may buy-in to the event.
- In Rebuys, the final prize pool is not known until the end of the rebuy and add-on period. The final prize pool will always be much higher than it was at the beginning of a rebuy tournament.
How Is the Winner Determined?
The winner of a poker tournament is determined when only one player has all the chips. The last phase before the end is when two players battle it out 'heads-up'.
What are Guaranteed Tournaments (GTD)?
Guaranteed tournaments have a minimum prize pool pre-set before the event. What this means is that if there are not enough buy-ins to meet the guaranteed amount, there is something called an 'overlay.' An overlay means that the event basically begins as if several people had already busted out.
However, poker rooms know exactly how many people tend to sign up for a particular tournament, so they offer guarantees based on the usual prize pool. Therefore, overlays are rare and a guaranteed is effectively just a gimmick used to attract more players.
Even so, knowing the guarantee of a particular tournament is a good tool for professional players to use when planning their playing schedule.
How Are Poker Tournaments Set Up?
Most poker tournaments are played on a 9 or 10 seat table. Only one deck is used if there is a dedicated dealer. If the event is a home game or pub poker tournament, there are often two alternating decks in play. Typically, the player in the big blind will shuffle during the hand.
How Is Seating Determined?
Before play can begin the players must be properly seated. There are three typical methods used to determine seating assignments in a poker tournament:
- Random draw is the most common form of seating found in live multi-table poker tournaments. When a player pays his or her buy-in, the seat assignment is randomly given to the player by the table and seat number.
- Player choice is common in casual pub poker tournaments. This allows family members and friends to sit together to enjoy the game.
- Drawing from the deck is how seating is often determined in a single table tournament. The playing cards are typically fanned out on the table and each player gets a card. The high card gets seat one, the next highest seat two, so on and so forth. Ties are usually broken by either redrawing or using bridge order. Spades>Hearts>Clubs>Diamonds.
How Players Are Re-Seated During Play
From time to time, the number of players on the remaining tables will become unbalanced. You may have 9 people on one table, 6 on another, so on and so forth.
It is the job of the tournament director to make sure that the number of players on every table are as close to equal as possible. Therefore, players must be occasionally moved in order to maintain that equilibrium.
Usually, the director will try to move players 'in position'. For example, if a person was going to be in the Small Blind, they are moved to the same position on their new table. One thing that directors try to avoid is forcing someone to pay the blind on one table and then pay the blinds again immediately upon moving.
Even so, if more than 3 players are moved there will be a redraw at the new table to determine who has the button.
What Is the Structure in Tournaments?
The structure of tournaments will vary from event to event. Here are a few things that must be established in every event:
- The number of starting chips that each player will get.
- The blind level structure.
- How long each blind level lasts.
- Whether or not rebuys or re-entries will be allowed.
- Whether it is a sit and go event or has a set starting time.
Poker Chip Distribution (Starting Stacks)
This is an area where tournaments differ from other forms of poker. While cash games allow players to choose the buy-in they begin with, tournaments have one uniform starting stack size.
Average Starting Stack Size
The number of chips that poker players get at the beginning can vary wildly from event to event. For lower buy-ins and most pub poker type tournaments, the starting chips are usually in the 2,000 to 3,000 range.
Shallow Versus Deep-Stacked Tournaments
Typically, anything below 3,000 chips is considered shallow stacks and anything above 8,000 is usually considered deep-stacked. However, the effective size of the stack is relative to the size of the blinds and how fast they increase.
Poker Tournament Blind Levels
In poker tournaments the blind levels do not remain static. At set intervals, the levels increase.
This effectively decreases everyone stack size and forces the players to constantly try to increase their stacks. Otherwise, they might 'blind out' and not have enough chips to even pay the blinds.
What Are the Typical Blind Levels?
The exact amounts of each blind level can vary quite a bit, but here is a common schedule:
Free Poker Win Prizes
| Level | Blinds | Level | Blinds |
| 1 | 25/50 | 6 | 300/600 |
| 2 | 50/100 | 7 | 500/1000 |
| 3 | 75/150 | 8 | 1000/2000 |
| 4 | 100/200 | 9 | 2000/4000 |
| 5 | 200/400 | 10 | 3000/6000 |
Poker Tournament Speed
Every tournament has a set interval in which the blinds go up. This can range from every 3 minutes all the way up to every 2 hours. In fact, the biggest determining factor on how shallow starting stacks are is in how fast the blinds go up.
Also, hands played per hour has an impact on tournament speed. Live events play much slower than online tournaments. Therefore, the blind intervals have to be treated differently when figuring out speed.
Tournament Speed in Live Events
At most, you usually play about 30 hands per hour in a live tournament. This doesn't give you much time to pick up premium hands if blinds are going up quickly. With that in mind, here is a commonly accepted breakdown of live tournament speed:
| Tournament Categories | Blind Level Intervals |
| Slow tournaments | Greater than 1 hr levels |
| Average tournaments | 30 to 45 minute levels |
| Fast tournaments | 20 to 25 minute levels |
| Turbo tournaments | 15 minute levels |
| Hyper-Turbo tournaments | Less than 15 minute levels |
Tournament Speed in Online Events
Magik slots bonus code 2020. Online, you can usually see between 60 and 90 hands per hour. This dramatically changes the calculations for tournament speed. Slow tournaments are blind levels of 30 minutes or longer while 15 minutes is average speed. Turbos are typically 5 minutes while hyper-turbos have 3 minute blinds.
Tournament Strategy Is Largely Affected by Speed of the Blinds
Ultimately, tournament speed is controlled by how big your starting stack is and how fast the blinds go up. One way to look at it is to figure out how fast you will blind out of the tournament if you never played a single hand. This 'patience factor' is helpful in deciding both what hands to play and how to play them.
One of my favorite authors, Arnold Snyder, explains these calculations in his popular book titled Poker Tournament Formula (click to see Amazon listing). I highly recommend it if you want to improve your tournament speed play.
Poker Tournament Types
There are two basic types of poker tournaments:
- Multi-Table Tournaments (MTT)
- Single-Table Tournaments (STT)
When Does a Tournament Begin?
- Scheduled – Scheduled tournaments have a set starting time.
- Sit N Go – Sit N Go (SNG) tournaments only begin once a certain number of plays have registered and 'sat down'. Most SNGs are single table events and are often associated with satellites. However, two-table up to 5-table events are common as well.
How Long Does a Poker Tournament Last?
No matter what format, all tournaments are designed to play out until there is a winner. Generally, the winner is determined when one person has won the heads-up match and has all the chips.
Ways Tournaments Can End Early
There are two ways that a tournament can end early:
- A deal is struck between the remaining players who agree to a final table payout. Once the deal is made, the event is often over. However, occasionally the players will agree to play out the event for bragging rights or for an amount set aside from the prize pool.
- The event is a satellite with a set number of seats. In that case, there is no point in continuing on once the number of players left equals the number of seats in the prize pool.
Online Poker Tournaments Real Money
Tournament Format Variations
There are numerous variations and sub-variations of poker tournaments. I will cover the most common types that you need to know about. They are:
- Bounty Tournaments
- Spin N Go's
- Shootouts
- Satellites
- Double or Nothings
What Is a Bounty Tournament?
See Full List On En.wikipedia.org
In bounty tournaments (sometimes called knockouts), a portion of the prize pool is set aside as a 'bounty'. Whenever someone is knocked out, the person that won their chips is immediately awarded the bounty. The introduction of a bounty alters the optimal strategy and makes loose calls of all-ins more frequent.
What Is a Spin N Go?
First created on Pokerstars, a spin n go is a fast-paced three-person sit n go that features 3-minute blinds and a prize pool that varies from event to event. The prize pool is randomly selected as a multiplier of between 2 times to 3000 times the buy-in. Players start with 500 chips in a winner take all format.
What Is a Shootout Tournament?
Shootout tournaments are basically multiple sit n go's played over multiple rounds. At the start, there are a pre-set number of tables with between 2 and 10 players each. In the first round, play continues until there is one winner on each table. In the next round, all of the winners start anew on a new table. The rounds continue until the final table is reached and an ultimate winner determined.
What Is a Satellite?
A satellite is usually a sit n go where the prize pool is an entry into a larger buy-in poker tournament. Buy-ins to each satellite determine how many 'tickets' are awarded. Sometimes only the winner gets a ticket but often there are multiple seats to be won. Satellites can be an STT or an MTT.
What Is a Double or Nothing?
Sometimes called 'double-ups', a double or nothing tournament has a flat payout structure where half the field wins twice their buy-in amount. In another variation is called, called 'triple-ups', one-third of the field wins three times their buy-in.
What's the Best Poker Beginner Strategy?
A variety of different poker styles have been successful over the years. Therefore, there is not a one size fits all strategy. Even so, I first recommend that you learn the basic rules and fundamentals and then read a book called 'Harrington on Hold'em.'
'HoH' is about as basic as it gets for tournament strategy and is a great starting point for learning how to play tournament poker hands.
Once you have played a few hundred tournaments and have a better grasp on them, I suggest that you move on to a more aggressive strategy which is laid out in 'Poker Tournament Formula', which I mentioned earlier.
Do You Recommend an Online Poker Site to Practice On?
To give yourself the best chance of success as a new player, I recommend choosing a poker site that is not too big yet not too small, that caters more to newer or recreational players.
- For players in the United States, I recommend Ignition Poker, which has anonymous games. This keeps pros from tracking your play over the long-term and taking advantage of your weaknesses.
- For players outside the United States, that cannot play on Ignition, I recommend Bodog. Bodog shares it's player pool with Ignition and also has anonymous games.
- If you cannot play on either of the sites mentioned above, try PartyPoker or 888 Poker.
I recommend avoiding Pokerstars as a new player. They have the toughest games in the world which make it very hard to win for a newer players.
Final Thoughts
Poker Tournaments Prize Money Winners
I hope you've enjoyed this crash course on how poker tournaments work. If there is something I failed to mention or a question that was unanswered, please let me know in the comments.
Thanks for reading and now go win that tournament!
Related Questions
2019 WSOP Main Event
Who can play in a poker tournament? In general, unless it is a close event anyone that has the entry fee may play in a poker tournament. This is what makes the World Series of Poker so intriguing. Unlike other sports, you can compete against the best players in the world without having to qualify in some way.
When can you call clock in poker? Anyone may call clock on another player at any time during a poker tournament. However, this is usually only done in rare cases when a player is taking an inordinate amount of time to act. Once clock is called, a floorperson comes to the table and gives the challenged player one minute to complete his or her action. If the clock runs out before the 'on the clock' player acts, the hand is declared dead and is folded.
What is ROI? ROI is an acronym that stands for 'Return On Investment.' ROI is measured as a percentage based on how much money a poker player wins once buy-ins are subtracted from their winnings. To figure out your ROI, divide your net profit by your investment and times it by 100. For example, let's say you win $15,000 in poker tournaments and paid $12,000 in buy-ins. Your net profit is $3,000. So, $3,000/$15,000= 0.2. When you times .2 times 100, you get 20%. Therefore, your ROI is 20%.
