How Online Poker Tournaments Work
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In poker tournaments held online, a large number of players compete for a prize pool announced by sites. Each player has to pay for a buy-in in order to enter into an online poker tournament. On entering, a player is provided a certain number of chips with which he starts playing. The format of these competitions varies according to the kind of tournament you choose to play. Here is a brief overview of how the most popular poker tournaments are played online.
Sit n Go Tournaments
One of the most common tournament formats is Sit n Go. These tournaments don’t have a scheduled starting time. The competition starts when all the seats are filled. Typically a single table Sit n Go is played with 9-10 players. As many as 360 players can participate in a multi-table Sit n Go.
Double or Nothing Tournament
Double or Nothing is a variant of Sit n Go tournaments. However, the payout structure of this tournament is very different from regular Sit n Gos. Double or Nothing is played with 10 players. The top 5 finishers receive double the amount of their buy-in. On the other hand, the bottom 5 players receive nothing. The prize received by the winner is the same as what the player in the 5th position receives. Hence, there is not much competitiveness in the tournament to collect chips.
Multi Table Tournaments
Multi table tournaments start at a scheduled time. Generally, a large number of players participate in these tournaments across multiple tables. Players are knocked out based on their scores. When only a few players are left in the tournament, the browser takes them to the final table. The player having the maximum number of chips at the end wins the competition. Attractive prize pools are announced by top rated poker sites for their multi-table tournaments. The prize pool is shared by the top scorers.
Satellite tournaments help you to find your way to grand poker events held online. They are held by online poker rooms prior to grand events like World Series of Poker (WSOP). Winners of satellites are offered entries to the grand event. Generally, the buy-ins of satellite tournaments are 5-10% of the buy-ins of the main event. For example, if the buy-in of the main event is $200, the buy-in for the satellite will be around $10 to $20.
Re-buy tournaments allow you to buy chips when those distributed initially, get over. You are allowed to re-buy chips only within a specified time frame set by the poker site you are registered with. There is also a limit on the number of times you are allowed to re-buy.
Bounty tournaments are those where a certain amount of money is offered to a gamer for knocking out a particular player in the course of the event. Bounty is the money that a player gets for eliminating his opponents. Every time a participant is knocked out, a bounty is offered to players.
Freerolls are those where players can participate without paying for a buy-in. Although the entry is free, you have a chance to win money here. Freerolls are ideal for players new to poker. They are able to learn the game without risking their money. By learning the strategies, players can add to their bankrolls considerably through freerolls.