While on situs poker, you will come across various tournaments that you can then engage in. As compared to cash games, tournaments tend to be complicated because they come in various structures and formats.
Unlike with cash games, the tournaments can be played on either multiple or single tables. What it means is that the number of people going to take part is ordinarily unlimited. Tournaments can involve only two players or a variety of them, running into thousands.
But it is not all tournaments that take place on various tables. Some tournaments have a fixed start time that is set in advance, and they are called scheduled tournaments. There is a sit and go tournament, which is an alternative to the scheduled tournaments.
They don’t have a fixed start time, and they will start immediately the number of players required to enter are ready to play. They are played on single tables with between two up to ten players who can play on various tables.
To be able to enter a tournament, you will need to pay the relevant fee for entry. You will then get a fixed number of chips referred to as the starting stack, which will be equal for every other entrant. You will get eliminated from the tournament if you happen to lose your entire chips at any given point.
You will not have an option of rebuying more chips the way you do when you play cash games, although you might get an exception to this particular rule. There is a specific tournament type where you are to be allowed to rebuy another start stack when you end up losing your chips in the early stages of the game.
The chips in the poker tournament don’t have a monetary value, and thus, real money is not won on every hand. Instead, the players end up winning money based on which position they finish. The entrants of tournaments get eliminated when and as they lose their chips, and the last one left with chips is the winner of the tournament.
The finishing positions for the rest is determined by order of elimination. When the tournament is over, the prize pool, which comprises all entry fees, is then distributed to the finishing players in the first positions.
There will be a structure for payout, which dictates the number of players going to be paid and how much each of them will win. There are no rules that are fixed on what the structure of the payout should be.