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Poker Tournament Basics: How A Tourney Works
By J Finney -
A poker tournament is a where the winnings are used as points, where the players play by specific rules and one, two or three player get to actually win money in the end. The number of winners and the rules are specific to every tournament and they are made public before the enrolment for the tournament begins.
Every one who wants to enter the tournament pays a fee, the same amount of money that is to be used as the bankroll of every player for that specific tournament, and it is called the buy-in .Next to the buy in the casino, online or offline, will take itself a fee from all players called the entrance fee, fee used to sustain and entertain the tournament. Let’s say the buy-in is $300, and then the casino might take an extra $30, so in order to enter that tournament you will have to give the house a total amount of $330. All the money gathered fro the buy-ins is collected for the prize fund and it will be the buy-in multiplied by the number of players. If in our example if it is a tournament with 200 players, then the total prize will be of $60.000. Players can be paid for their games only after the tournament is over and only if they qualify among the top players. Usually there is a price for every top 10 player, but this depends on the casino and tournament too. The prices are announced before and they are calculated as percepts from the price pool gathered. For example 40% first price, 30% second, 10% third, 8% fourth, 7% fifth and 5%
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