Aussies love playing Poker tournaments and for many years, the biggest poker tournament in Australia has been the Aussie Millions. This is one of the richest poker tournament that includes not only the $10,000 main event that offers the winner well over a million dollars in prize money, but also super high roller events with buy-ins of $100,000 and $250,000. The Aussie Millions takes place each January at the Crown Casino in Melbourne.
So what do you Understand by Poker Tournament?
A poker tournament is a competition in which players compete in a game of poker until all players but one have run out of chips — the last player remaining is the winner. Tournaments can begin with just a single table worth of players, or can feature thousands of players all competing for the right to become the champion. Each player must pay a buy-in to enter the tournament, with prizes for the top players coming out of what the players have paid.
Types of Tournaments
Tournaments come in a variety of styles. In some tournaments, you’ll have the opportunity to purchase chips more than once, building the prize pool and encouraging riskier play in the early stages. Other tournaments are known as satellites, and offer players the chance to qualify for larger events that they might not normally be able to afford playing in.
1. Multi- Table Tournaments
The multi-table tournaments are the kinds of events that range from small free rolls to the Aussie Millions and the Main Event at the World Series of Poker. In tournament play, all players pay a buy-in as well as an entry fee. This is usually expressed in a manner like $10 + $1 – with $10 being the buy-in, which goes into the prize pool, and $1 being the entry fee, which is collected by the poker room. In exchange, all entrants receive several chips that will be used in the tournament.
You won’t be making bets for real money; instead, you’ll make bets with those chips. Lose all the chips, and you’ve eliminated. Be one of the last players eliminated (usually the final 10% or so of players), and you’ll win a prize. Collect all the chips as the last player standing, and you’ll win first place. To ensure tournaments progress, the blinds (and later, antes) will progressively increase, forcing players to make decisions for all of their chips unless they increase the size of their stacks.
2. Sit n Go Tournaments
This tournaments are a very special subcategory of tournaments that are particularly popular in online poker. In fact, although you can now find them in live casinos, they were first popularized online, where they made a great spontaneous alternative to regular tournaments.
While a regular tournament is scheduled ahead of time and starts on that schedule, Sit n Go can begin whenever enough players – usually nine or ten, though both smaller tables and multi-table Sit n Go are fairly common where you sign up to play. Once enough players have signed up, everyone takes their seats, gets a stack of chips, and starts playing! At a typical one-table Sit n Go the top three finishers will win prize money. Just like in a standard tournament, the blinds will rise as you play, eventually forcing you to make moves to increase your stack or move all-in for the rest of your chips.
3. Satellite Tournaments
A satellite tournament is one in which players are competing not for cash, but for a seat in a larger and more expensive tournament. These tournaments can roughly be broken into two types: smaller satellites offering a single seat into the bigger event, and “super satellites” offering as many seats as the prize pool can support.
In Web poker, satellites will often be broken into several steps or levels so players off all budgets can participate. For instance, there may be a $10 satellite event that awards seats into a $100 satellite, which in turn awards seats into a real $1,000 tournament. Players have the option of buying directly into the $1,000 event, or can play at the satellite level most comfortable to them.
Since tournaments offer the best way to win a huge prize in poker – winners of major events can win millions of dollars – they’re great for dreamers or those looking to make a name for themselves. If poker excites you for the big wins and the potential for stardom, tournaments are definitely the way to go.
What is Cash Game
A cash game is the classic form of poker, and overall; is still probably the most popular way to play poker around the world. In a cash game, every bet you make is made with real money. There’s no set length of time you need to play for; and no way to ultimately win or be eliminated from the game; as long as you can keep bringing money to the table; and other opponents are willing to play with you, you’re welcome to continue playing.
When you find a cash game; you’ll notice that it is described by the types of stakes you’ll be playing for. However, a limit game will be described somewhat differently from a pot limit or no limit poker game. A $2/$4 limit game means that all bets on the first two betting rounds will be for $2, while later betting rounds will feature $4 bets. The blinds in that game would be $1 and $2. In a no-limit game, the size of the blinds is what dictates the name the game goes by; a game with $1 and $2 blinds is a $1/$2 game.
Cash games are poker in its purest form; where you need not worry about any other considerations like changing the value of chips because every dollar is simply worth a dollar; and the only way to count whether you’re doing well is to count how much money; you have at the end of your day.
What is the difference between a Tournament and a Cash Game
There are many differences between tournament poker and cash game poker. In a tournament, a player’s chips do not represent cash; instead, each player receives a certain number of chips at the beginning of the tournament. In other words, the chips are just a way of keeping score. Once a player runs out of chips; they are eliminated from the tournament and; unlike a real money game; cannot buy more chips to continue playing though some tournaments have exceptions to this rule in the early rounds.
Another key difference is while a cash game will be played with the same blinds and/or antes throughout a session; tournament formats will have the blinds constantly rising throughout the play. This is done to force the actions; as players who do not accumulate chips consistently will see their stacks eaten away by the rapidly increasing blinds and antes.
Difference in Payout Structure
Finally, the payout structure is much different in a poker tournament when compared to a cash game. In a cash game, you simply keep whatever you leave the table with. In a poker tournament; your winnings will be determined by when you are eliminated; with the final 10% or so of players typically earning prize money, while the rest win nothing. The last player with all the chips wins the tournament and will win the largest prize as a result.
You should know that the cost of poker tournaments can vary tremendously. Some tournaments cost a dollar or less or are even being offered for free; in the case of freeroll; while others can cost tens of thousands of dollars or more. The cost of a poker tournament is typically broken up into two parts: a buy-in and an entry fee. The buy-in is the portion of the cost which goes into the prize pool players are competing for; while the entry fee goes to the poker room for organizing and running the tournament. For instance, a tournament listed as costing $10 + $1 costs $11 to play in; with $10 of that amount going into the prize pool.
If you are interested in playing poker tournaments then there are online poker sites where you can enjoy the 888 poker which is quite Aussie friendly. You can choose from a great variety of tournaments, and get the chance to win seats in major tournaments around the world too.