Buy-in

The buy-in is the amount a player pays to enter a game. In a tournament it is a one-off entry cost; in a cash game it is the amount exchanged for chips, which can be topped up at will.

Tournament buy-ins and the fee

A tournament buy-in is almost always made up of two parts. The larger share goes to the prize pool and is paid back out to the finishers. The smaller share is the entry fee, which the house keeps for running the event.

This is why buy-ins are written as $100 + $10 or similar: $100 to the prize pool, $10 to the operator. A single advertised figure usually means the fee is included rather than absent, and the structure sheet will say how it divides.

The fee as a percentage of the total is the clearest way to compare the cost of two events, and it varies substantially. It tends to be proportionally higher at smaller buy-ins and lower at high-roller levels.

Re-entry, rebuys and add-ons

These are different things and the distinction matters to what an event actually costs.

- **Re-entry** means buying a fresh entry after busting, starting again with a new stack. The fee is charged again each time. - **A rebuy** means buying more chips while still in the tournament, available during a defined early period. - **An add-on** is a single optional purchase of extra chips, usually offered once at the end of the rebuy period.

A tournament advertised at a modest buy-in can therefore cost several multiples of that figure to play properly. Working out the realistic total before registering — rather than the headline number — is the practical point.

Guarantees and overlays

Many events advertise a guaranteed prize pool. If entries do not generate enough to reach it, the operator makes up the difference, and that shortfall is an overlay — genuinely favourable for the players who did enter, since they are competing for money that no one paid in. If entries exceed the guarantee, the prize pool simply grows beyond it. The guarantee is a floor, not a cap.

Cash-game buy-ins

In a cash game the buy-in is the amount exchanged for chips at the table, and the structure is different in two ways. Rooms set a minimum and often a maximum, both usually expressed in big blinds, and a player can rebuy or top up between hands without limit.

Table stakes governs the rest: only the chips on the table can be wagered in a hand, and nothing can be added mid-hand. Some rooms also run a rule against leaving a game shortly after winning a large pot, to prevent a player taking money and running.

Bankroll, stated plainly

The relationship between buy-in and bankroll is the one piece of money management that matters most, and the reason is variance rather than skill. Results over any short run are dominated by luck, so a bankroll has to be large enough in buy-in multiples to survive a losing stretch that proves nothing about how well someone plays. Tournaments, where most entries end with no return at all, require far more buy-ins of cushion than cash games do.

The practical version: choose the stake from the bankroll, not from the stake you would like to be playing.