Tournament
A poker event where everyone pays the same buy-in, receives the same starting chips, and plays until one player has them all. Blinds rise on a schedule and prizes are paid from the pooled buy-ins by finishing position.
Frequently asked questions
How does a poker tournament work?
Everyone pays the same buy-in and receives the same starting chips. Blinds and antes increase on a fixed clock, tables are consolidated as players bust, and play continues until one player holds every chip. Chips cannot be cashed out — only the finishing position pays.
How are tournament prizes paid?
Only the top portion of the field is paid — commonly around the top 10% to 15%, with a min-cash near the buy-in and most of the money concentrated at the final table. The exact payout schedule is published before the event starts.
Why is tournament strategy different from cash games?
Because chips you lose are worth more than chips you win. You cannot reload, and your stack's cash value depends on the payout ladder rather than its face value — which is why survival, ICM and pay jumps matter in ways that have no cash-game equivalent.