Tournaments
Poker tournaments are organized competitions where players compete against other players with the goal of acquiring all the chips in play. The difference between an ordinary poker game in casino to tournaments is that players cannot quit whenever they want to quit. Play will continue until a winner is announced.
There are two primary types of poker tournaments: the single table (also called as sit and go) and the multi-table. Single table type usually involves the winner taking all the prize. For multi-table tournaments, players begin with the same amount of chips until one player has gathered all the chips. Elimination falls under the multi-table type. Tournament types of poker are explained below:
Elimination or “Freeze out” Poker Tournaments
Perhaps, elimination is the most common type of tournament there is. This starts with all players having the same amount of chips and continuously playing until only one player has acquired the chips. Whenever players get eliminated, active players are transferred to fewer tables. While it may be true that only one player can accumulate all the chips in an elimination, the payout structure though can be rewarded to several players. Players in the final table may get prize money but less than what the overall winner gets. For instance, the 2nd placer gets more prize money than the third placer and the third placer gets more prize money than the fourth placer and so on.
Rebuy Poker Tournaments
In this particular type of tournament, players who lost all their chips are allowed to “rebuy” more chips so that they may continue playing. But this is only allowed within specific “rebuy” periods. This type often features more aggressive kind of players because they can not be eliminated easily even after losing all their chips. More often, rebuy ends up with having a larger pot because players contribute more money through the rebuy process.
Satellite Tournaments
Satellite tournament is considered the first leg in a larger poker tournament where a group of players compete against each other with the winner advancing to the main event, to an even larger poker tournaments without ever posting a major sum of cash.
Shootout Tournaments
Shootout poker tournament is a variety of elimination tournament, no wonder they are similar. In shootout, tables retain individuality even after elimination of players. Instead, each table plays until a single winner emerge, then table winners proceed to a finals portion. If for example there are 20 tables that started, then 20 table winners will be competing against each other in either a shootout round or elimination style until a winner is produced. This type of tournament usually takes longer hours than other elimination events.