take the turn, etc. This ranking of players through elimination is unique across games and also avoids the possibility of a tie for first place as a player must have all chips to finish the tournament. (Draws are possible for all other places, but these are rare, as the only tiebreaker is the number of chips one has at the start of the hand and therefore two people must start one hand with exactly the same number of chips and both must be removed from the same hand to connect with each other. .)
Sometimes tournaments end by mutual agreement of the remaining players. For example, in a $ 5 game for 10 players, there might be two players left with $ 29 and $ 21 worth of chips, respectively. Rather than risk losing their winnings, these two players may be allowed to divide the reward proportionally (or as they agree) to their in-game currency, as either one of them would if the game continues.
Certain tournaments, known as prize tournaments, award some or all of the players. If a player knocked down their opponent, they wins the opponent’s prize. Individual prizes or total prizes collected at the end of a tournament can be used to award prizes. The rewards usually go hand in hand with a regular prize pool where a small portion of each player’s participation goes to their prize.
Other tournaments give the chips cash value, allowing players to exchange some or all of their chips in the middle of a tournament for cash prizes. Separate parts of each player’s participation go to a prize pool and a “cash out” pool. The cash out rate is usually fixed, and a time when players cannot make money (such as the final table) is usually set. The remaining cash out pool is either paid to the remaining space or added to the regular prize pool.
Tournaments can be open or invited. The Main Event (no limit Texas Hold ‘Em tournament with an entry of $ 10,000), considered the most prestigious of all poker tournaments, is the World Series of Poker open.
Multi-table tournaments involve many players playing at dozens or even hundreds of tables at the same time. Satellite tournaments, leading to high profile, expensive poker tournaments, are the way to get into a big event without investing a significant amount of money. These have significantly lower turnout rates, usually between one-tenth and one-fiftieth of the main tournament’s participation, and can be conducted at a variety of venues and more recently via the Internet. Instead of the cash prize, the best players in this event are given seats in the main tournament, with the number of places dependent on participation. Chris Moneymaker, who won the 2003 World Series of Poker Main Event, was able to earn his seat by winning an Internet tournament with a participation of $ 39. 2004 World Series of Poker champion Greg Raymer bought his seat in a $ 165 Internet tournament.
The opposite of a multi-table tournament is a one-table tournament often abbreviated as STT.