A poker tournament, like any other tournament, is a structured competition where players aim to win by accumulating all of the chips in play. There are three principal types of poker tournament. The first it the “elimination,” or “freeze out,” which is the most common type. In this structure, all player start with the same number of chips and play continues until one player has accumulated all the chips. As play progresses, active players from different tables will come together; reduce the number of tables and players. The payout structure rewards players at the final table based on the number of chips they hold, ensuring that all players remaining receive a share proportional to their stack.
“Shootout” tournaments work differently as tables are not combined as players are eliminated. Each table plays down to a single winner who then proceeds to the next round of the tournament. For example if a fulltilt poker tournament started with 24 tables of eight, the second round will feature 3 tables of eight, and the final round will feature the top three. Shootout tournaments tend be short in duration than elimination events
“Rebuy” tournaments are structured so that players who have lost their chips can buy more chips and rejoin the action after an initial period of time, ranging between one and three hours. Rebuy tournaments tend to have play that is more aggressive early on, because you can rejoin the action in the event of chip death. Because of this, rebuy tournaments tend to have inflated prize pools, given the entry fees and the number of rebuys during the course of the night.
Satellite tournaments are like “mini” tournaments that take place before the main event. For example, a tournament with a $2000 entry fee, will see ten players put up $200 a piece and then proceed to battle it out over the card table. The winner, advances to the main event.
Poker tournaments can and are held just about anywhere, any time. A group of friends tends to be the driving force behind many college and university poker tournaments. Many casinos, could organize them and online gambling sites have a daily tournament. Poker tournaments also take place on cruise ships and ocean liners, with cruises devoted to the game. The major tournaments will vary from country to country and continent to continent. In the USA, the World Poker Tour and World Series of Poker is held in Las Vegas. The European Poker Tour, founded in 2004 by John Duthie is now the largest poker tour in the world by virtue of its players and prize pool. The Asia Pacific Poker Tour takes place in Macau annually, and the Crown Australia Poker Championship or “Aussie Millions” is the largest tournament in the Pacific.
The internet revolution has sparked its own share of online poker tournaments and the Word Championship of Online Poker (WCOOP) and the Full Tilt Online Poker Series (FTOPS) are the biggest ones with a million dollar prize.
So, you ready to play?