Poker tournaments — they’re everywhere. Not just the big, worldwide competitions that attract thousands of players (and require thousands of dollars to join). There are also smaller events organized by websites, which require smaller buy-ins and allow recreational players to test their skills without being intimidated by a roomful of professionals. They have fun, they get to meet fellow poker aficionados, and they even get a chance to win a tidy sum. Not a bad way to spend a weekend.
While the biggest annual tournaments command a rather heavy $10,000 buy-in, you can find weekly get-togethers that cost as low as $22. Now, the prizes are smaller too, so don’t expect to come home a millionaire — but many players see it really as a unique get-away, rather than a ticket to fame and fortune. Like golfing vacations or camping in the mountains, poker tournaments have become a kind of “alternative recreation” — although, understandably, not one you can take with the wife and kids.
If you win the tournament, your prize depends on the number of participants and the size of the buy-in. Most organizers will just subtract a little for the cost of the venue and other logistical operations, but give the rest to the prize pool. The number of prizes also depends on the size of the event. A good average would be one per number of tables, so a tournament with three tables would award a first, second and third place. Then, the total prize pool would be divided among the three, usually the largest being about 50% for the grand winner (but only for the smallest tournaments).
Since there are a lot of tournaments, all competing for participants and claiming to be the “best”, “the most exciting”, or “the most challenging” , event organizers have to get a little creative with their marketing. Of course, this all works for the players, who benefit from their competitiveness. In a free market, the customer always wins.
For example, some tournaments will offer very generous chip bonuses. Some allow you to buy more chips once you sink to a certain amount, usually set at the starting chip count. You may even get a chance to get bonus chips. You know what this means, right—more chances to win!
Some tournaments try to up the excitement levels with bounties. A bounty is a cash prize you receive each time you bust a player. Sometimes you get a bounty regardless of who you bust; others make it doubly exciting by selecting players who are declared “bounties”. This can include celebrity participants, a previous winner, or people who are randomly selected by a drawing of lots. It’s a refreshing and exciting way of winning more money.
There are some travel agencies that will offer special packages and even poker tournament tours. While they are more expensive than joining online tournaments—you have to pay for airfare, hotel accommodations, food, and souvenirs for the family back home—they offer the unique opportunity to meet other players and even see the sights in the city before heading back home.
