To participate in an online poker tournament, you have to pay an entrance fee (also called the Buy-in). The sum total of the participants’ entrance fees contributes towards the tournament’s prize money. The greater the number of participants, the bigger the prize money. The best players in the tournament share this money. Approximately 10% of the players in an online poker tournament win a prize.
You can also participate in online poker tournaments that are free to enter (Freeroll Tournaments). There’s no Buy-in fee and the poker room offers the tournament’s prize money. This is an excellent way to start playing tournament poker.
At the start, all players receive the same number of chips. Gradually (e.g. every 30 minutes), the blinds are raised in order to prevent participants from playing a waiting game. Slowly but surely, the competition hots up! Players who have lost all of their chips are eliminated. The jackpot goes to the winner(s)!
As its name suggests, a single-table online poker tournament is played on just one table. It begins when all of the seats are taken. You can play in an online single-table tournament at any time of the day.
An online multitable poker tournament brings together a larger number of players who are divided into several tables. These tournaments take place at set times and you have to register in advance.
Do you want to participate in the world’s greatest poker tournaments and have a chance of winning the astronomical prize money (several million dollars!) without having to pay the huge entrance fees? Follow in the footsteps of Chris Moneymaker who won the $2.5 million first prize in the 2003 World Championship after earning his place in an online satellite tournament for which the entrance fee cost him…just 39 dollars.
The reward for winning a satellite tournament is a place in a bigger tournament. This allows you to take part in highly lucrative tournaments without paying the entrance fees!