
Have you ever wondered what it’s like to play in a poker tournament, but you weren’t sure how to go about it? Wonder no more. Whether you play online poker, live poker, or both, this article has everything you need to satisfy your curiosity and start you off on your journey.
Everything You Need to Know About Poker Tournaments
A poker tournament is basically an elimination contest between poker players. The number of participants can vary from a handful of players to thousands of players, but there can only ever be one winner at the final shootout. The great thing about tournaments is that everybody starts on an equal footing, with an equal amount of chips. It takes skill to defend your stack and grow it, but if you succeed, you may reach the final table for a share of the prize money. Even if you don’t, you’ll have fun along the way.
The two main types of poker tournaments are No Limit Hold’em and Pot Limit Omaha, but there are many more to explore. It’s easy to get started – simply learn about poker tournament strategy for beginners and find a tournament with a buy-in that suits your budget, starting with freerolls that cost nothing to enter at all. The more you play, the more you’ll learn, and hopefully you’ll soon end up a winner.
Additionally, cash players looking to transition to tournaments should know that the strategy is different. Professional poker player Darren Elias’ advice on cash-to-tournament poker play is excellent in this regard.
Common Questions About Poker Tournaments
Here are answers to some of the questions that people ask most frequently about poker tournaments.
How Do I Find Local Poker Tournaments?
A great resource for finding poker tournaments near you is PokerAtlas.com, the biggest database of poker clubs, rooms, and casinos in the US. In addition, you may want to visit your local casino, ask your poker buddies, or search on social media for tournaments in your area.
Can Anyone Enter a Poker Tournament?
Anyone can enter a poker tournament provided they are of the legal age. State governments in the US and licensed online casino operators like BetMGM require all players to be at least 21 years old.
Are There Free Poker Tournaments?
Yes, many poker sites host freeroll tournaments. These events are free to enter, and winners receive prizes. Freerolls are effectively sponsored by the house.
Do Players Use Their Own Money in Poker Tournaments?
Players don’t bet their own money directly during tournaments, as the chips they play with don’t have cash value. Most players front their own buy-in money, although backing arrangements sometimes occur during high-roller events. These are deals where the backer puts up the poker buy-in fee, in exchange for a share of the profit, assuming it materializes.
What Is a Poker Tournament Buy-In?
A buy-in is simply the entrance fee to a poker tournament. In exchange, players receive their chips and a seat at the table.
How Much Does It Cost to Participate in a Poker Tournament?
Buy-ins vary greatly, depending on what kind of tournament you enter. Small online tournaments can cost as little as $1 to enter, while some have a $10,000 buy-in. BetMGM Poker has tournaments that extend both online and off, including its Borgata Poker Open series and events at the ARIA Poker Open in Las Vegas.
Where Does the Money Come From in Poker Tournaments?
Poker is a truly democratic game because (with the exception of freerolls) the prize money comes from the money that players pay to buy in to the tournament. For example, every player who participates in the $10,000 No-Limit Hold’em Main Event at the WSOP pays $10,000 for the privilege. The 2024 event attracted 10,112 entries, for a $94,041,600 prize pool, and the champion earned $10,000,000.
Do They Use Real Money in Poker Tournaments?
Players pay real money to buy in to a poker tournament and receive a certain number chips to play with. The money itself goes to the prize pool, which is paid out at the end according to the payout structure.
What Is the Best Payout Structure for Poker Tournaments?
Most poker tournaments use a percentage-based scale to determine payouts based on the number of players, so there’s not much to choose between in terms of payout structures. The more players buy into a tournament, the bigger the prize pool and the higher the payouts. Generally, one player in 10 will finish in the money and cash. However, the top three players typically cash more than all other players in the money combined.
How Do Poker Tournaments Pay Out?
A common payout structure pays out the following percentages:
1st place: 30%
2nd: 20%
3rd: 15%
4th-6th:: 7.5%
7th-9th: 3.5%
So if there are 100 players in a tournament with a $1,000 prize pool, the top player will win $300. The smallest prize will be $35, and players who don’t finish in the money will win zero.
How Often Should You Cash in a Poker Tournament?
There’s no question – if you want to play poker tournaments and stay profitable, you have to cash. Just finishing in the money only pays 1.5 times your buy-in on average, meaning you have to cash frequently just to break even. However, if you can make a decent cash along the way, you can get ahead. One big cash at the final table can make up for many losses. If your primary motivation is to have fun, though, it doesn’t matter how often you cash, provided you stay within a responsible budget. Note that you cannot cash your chips in during a tournament – they have no cash value in themselves.
Can You Sit Out in a Poker Tournament?
Players can play their chips any way they like within the rules of the game, so you can sit out in a poker tournament if you really want to. Effectively, it means folding every hand. You still have to pay the blinds and antes for every hand you sit out.
How Long Does It Take to Play a Poker Tournament?
The length of a poker tournament largely depends on the number of players taking part. A live tournament with up to a 1,000 players can take anything from 8 hours up to a few days, while online tournaments usually take 8 to 10 hours. Then there are turbo tournaments, which typically last 4 to 6 and 5 to 8 hours for online and live respectively.
Play BetMGM Poker Online
Ready to play poker with real money? BetMGM offers a broad range of thrilling online poker tournaments covering all the popular variants, including No Limit Hold’em and Pot Limit Omaha, with buy-ins to suit every budget. Every kind of cash game is also available. New to the site? Get started with BetMGM’s famous online poker welcome offer.
Poker tournaments are exciting poker contests that frequently have big prizes for grabs. Read this article to find out all you need to know.