The poker buy-in is a term thrown about by poker players and media alike, so much so that people feel they should know what it means.
But a buy-in can be used in several contexts, so it is a good idea to explain it as such. Especially for newer players, it’s important to pull that term from the overall list of poker terminology for beginners and get into more detail about buy-ins.
Understanding the Basics of Poker Tournament Buy-Ins
On the most basic level, a poker buy-in is the amount of money that a player must pay to play a poker game, whether a tournament or cash game.
In an online poker tournament or live poker tournament, the buy-in is the amount of money that a player pays and contributes to the prize pool. However, it is not a term used uniformly. Let’s look at the several ways that people in poker may refer to the buy-in for a $200 tournament, for example.
- The casino offers a $200 buy-in event. The $200 goes into the prize pool, but be aware that the tournament fees are not included. By looking at the structure sheet of the tournament, you will know that the $200 is the buy-in, but you will also pay an extra $40 fee to cover the fees.
- The casino advertises the event as a $240 buy-in tournament. This is an odd number, which means the fees are likely included in that number. Again, a look at the structure sheet will confirm that $40 of that buy-in goes for administrative fees, dealer tips, and poker room costs, while $200 of it goes to the prize pool.
- A well-advertised tournament will show $200+$40 as the buy-in. This makes it clear that the $200 is for the prize pool and $40 is for fees.
- If the tournament is one with bounties – whether a mystery bounty tournament, progressive knockout, or other type of bounty tournament in poker – the title will usually indicate this. However, the structure sheet will provide the specifics, such as how much of the buy-in goes toward the bounty and how the bounties are awarded. If the tournament is a $200 buy-in bounty, it is most likely that $50 or $100 goes to the player’s own bounty, and the rest comprises the overall prize pool. Tournament fees will be extra, on top of the $200.
Obviously, it’s very important to look at the structure sheet of a tournament before deciding to play. It will clarify any bounties, fees, and dealer tips, so you will be fully prepared with the total amount of money necessary to play.
Understanding the Basics of Cash Game Poker Buy-Ins
The buy-in for a poker cash game is not as straightforward, whether playing poker online or live. A cash game buy-in is often a suggested amount of money per the stakes at play. Every poker room or online poker site sets a minimum and maximum buy-in for cash games, and it is the player’s choice as to choose a specific amount.
In an online poker cash game example, there is probably a $0.25/$0.50 cash game, indicating that those are the blinds. The minimum buy-in is probably 20 big blinds ($10), and the maximum buy-in can be anywhere from 100 big blinds ($50) to 200 big blinds ($100).
In these games, it may seem beneficial to always buy in for the maximum to begin playing with the largest stack possible, but many players use strategies in which short-stacked play is their best starting point. Every player chooses differently.
A live poker room might offer $1/$2 No Limit Texas Hold’em. Most rooms will set the minimum buy-in at 100 big blinds ($100) and the maximum at 300 big blinds ($300). Again, the buy-in choice is personal preference, as there are many factors in play per a beginner’s guide to poker cash games, but few players buy in for the minimum in these settings.
Buy-Ins for Different Poker Games
Cash games offer another consideration with regard to buy-ins. The minimums and maximums will be different in Limit Hold’em games vs No Limit Hold’em.
Since players are more likely to build larger pots in No Limit Hold’em, the minimum and maximum buy-ins are often higher than in Limit Hold’em cash games. For example, a $1/$2 No Limit Hold’em cash game might have a $100 minimum and $300 maximum buy-in. A $4/$8 Limit Hold’em offering might only require 10 big blinds as the minimum buy-in ($40) and 100 big blinds ($100) as the maximum.
Players in Omaha Poker, Stud Poker, and even various mixed poker games will find the same standards of buy-ins. However, it is always important to check with the poker room before going to play in order to formulate your strategy and allocate the proper amount of money per your poker bankroll management strategy.
Other Poker Buy-In Factors to Consider
As mentioned, there are several factors to consider when determining the poker buy-in that is right for you.
- Tournament or cash game play
- Level of experience playing at a particular buy-in level
- Strategy leanings toward deepstack or short stack poker
- Poker bankroll management allowances
- Level of competition in a tournament or cash game
- Online or live play, considering more hands played per hour online than live
Register with BetMGM Poker to Play Online
When first playing poker, it is best to play the lowest buy-ins available. Those will always be online, as poker sites offer micro-stakes and small-stakes poker games and tournaments that are never available in live poker venues.
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