Full Tilt Poker offers a variety of tournaments to choose from, each requiring a slight adaptation of poker strategy. The one element that all poker tournaments have in common is this; to play poker you will have to buy in for a specified amount of money plus the tournament fee, (usually about 10% of the buy in). When the game starts, each player is given an equal number of chips, (your “stack”) to bet with.
Sit and Go
Sit and Go tournaments are small poker tournaments, sometimes a small as 1 table. The defining element of a sit and go tournament is that the game does not start until the required number of players has registered. Many poker players prefer this type of tournament because the prize pool is already set. The prize pool in any tournament is based on the number of players registered, so in a sit and go, you know exactly what you’re playing for before the game ever starts.
Cash tournaments are very straightforward. Players buy in for the specified amount, and winnings are paid out to the top players in dollar increments.
These are usually relatively inexpensive tournaments. The prize is entrance into a higher stakes poker tournament with much higher payouts for the winners.
Knockout poker tournaments are an interesting variation of the standard cash tournament. A portion of each player’s buy in is set aside as their “bounty.” Every time you knock a player out of the tournament, you are awarded their bounty. This style of tournament usually attracts very aggressive poker players. The placement payout is usually lower than that of other tournaments, but this can be made up for by knocking out players.
Rebuy tournaments allow you to “rebuy”, or purchase more chips if you are knocked out early. The rebuy period will only last for a specified number of rounds, after which time rebuying is no longer permitted. Poker players that like to take risks and play several hands are often attracted to these tournaments.
In cashout tournaments, half of each players buy in goes into the prize pool, the other half goes into the “cashout fund.” At any time during the tournament, a player may “cash out” a portion of their chips. So if the buy in is $50 and the starting number of chips is 3000, then 3000 chips is worth half of the buy in, or $25.
These are set up similar to single table Sit and Go tournaments. The top players from each table advance to the next “step.” 7 steps in all are played and the prizes vary for the top players of the final step.
On Demand Tournaments
Set up like a sit and go at first. A specified number of players are required for the tournament to start. The difference between these and a sit and go is, once the game has started, other people can still register for a certain period of time.