How tournaments are structured
A tournament is a race against a rising clock — your chips are lives, not cash. Survive, because only the top finishers get paid.
Chips are lives, not money
You pay one buy-in for a stack of chips that can't be cashed out. Lose them all and you're out. Only your finishing position pays — typically just the top 10-15% of the field.
The buy-in and the rake
A buy-in is written as two numbers, e.g. $100 + $9. The $100 feeds the prize pool; the $9 is the fee (rake) the operator keeps. A healthy fee is ~5-10% of the prize portion.
Your stack is 24,000 chips and the blinds are 400/800. How many big blinds do you have?
Blinds rise on the clock
Blinds start small and jump every level on a fixed timer — Level 1 at 25/50, Level 2 at 50/100, and so on. Slow structures use long levels (30-60 min); turbos use 3-6 min levels and steep jumps.
Think in big blinds, not chips
12,000 chips at 200/400 is 30 BB. When blinds climb to 600/1,200, that same stack is only 10 BB — it shrank without you losing a hand. Your BB count, not chips, tells you how much room you have.
A 1,000-player tournament pays the top 150 finishers. You bust in 151st place. What do you win?
Payouts are steeply top-heavy
The pooled prizes are split among top finishers on a published structure. First might take 20-25% of the pool; the min-cash returns roughly 1.5-2x the buy-in. In a 1,000-runner MTT, only ~150 get paid.
- Chips have no cash value — payout depends only on finishing position, and just the top ~10-15% get paid.
- A buy-in splits into the prize pool (paid to players) and the fee/rake (kept by the operator).
- Blinds rise on a fixed clock, so your effective stack in big blinds shrinks even when you don't play a hand.
- Payouts are steeply top-heavy; the bubble is the last unpaid spot and creates intense survival pressure.
- MTT = scheduled, large field; SNG = starts when seats fill. Formats: freezeout, rebuy/add-on, re-entry, late reg.
Test yourself
Answer them all — 20/25 to pass. Every answer gets an explanation.
In a poker tournament, what is a chip's cash value while play is ongoing?
Tournament chips have no direct cash value; only your finishing position determines what you win.
What does the '+9' represent in a '$100 + $9' buy-in?
The second number is the fee (rake) the operator keeps; only the first number funds the prize pool.
The main difference between an MTT and a Sit & Go is:
An SNG begins the moment its seats fill, while an MTT starts at a scheduled time with an open field.
What happens when a blind level's clock expires?
Blinds rise on a fixed schedule; when a level's timer runs out, the next level begins regardless of the action.
You have 12,000 chips at 200/400. How many big blinds is that?
12,000 divided by the big blind of 400 equals 30 big blinds.
Why do skilled players measure their stack in big blinds instead of raw chips?
A raw chip total means little; big blinds show how much real playing room you have as blinds climb.
What is an ante?
Antes are additional forced bets that inflate the pot before the deal, common in later stages.
In the common 'Big Blind Ante' format, who posts the ante?
The Big Blind Ante has one player post a single table-wide ante equal to the big blind, speeding up play.
How do antes affect strategy compared to blinds-only play?
With extra chips in the pot before the deal, there is more to win by opening, which rewards aggression.
Roughly what fraction of a large MTT field typically gets paid?
Standard MTT payouts reach roughly the top 10-15% of the field; the rest cash nothing.
What is the 'bubble' in a tournament?
The bubble is the last unpaid spot; busting there means leaving with nothing just short of the money.
A 'freezeout' tournament means:
In a freezeout, a single elimination ends your tournament with no way back in.
What is 'late registration'?
Late registration lets new entries join during the early levels, growing the field and prize pool after the start.
If blinds rise from 200/400 to 600/1,200 and you never play a hand, your 12,000-chip stack goes from 30 BB to:
12,000 divided by the new big blind of 1,200 equals 10 big blinds — your stack shrank without losing a pot.
Tournament payout structures are best described as:
Payouts are top-heavy: first place earns far more than the min-cash spots.
A 'min-cash' typically returns approximately:
The minimum cash usually pays a small multiple of the buy-in, roughly 1.5-2x.
Which best describes the 'structure sheet' published before an event?
The structure sheet lays out how blinds, antes, and level durations progress through the tournament.
In a re-entry event, busting your stack means:
Re-entry requires busting out and re-registering as a completely new entry, unlike an in-seat rebuy.
Why can a big stack pressure medium stacks near the bubble?
Players clinging to survival near the bubble over-fold, letting big stacks steal blinds and antes cheaply.
A tournament charging a $10 + $10 buy-in has a rake of:
By this block's convention (a healthy fee is 5-10% of the PRIZE portion), a $10 fee on a $10 prize contribution is a 100% rake — it is only 50% of the total buy-in. Either way it is extremely high versus a healthy 5-10%.
A single-table SNG most commonly seats how many players?
Classic single-table SNGs run 6-handed or 9-handed before starting once seats fill.
When you have a large chip lead, thinking in big blinds still matters because:
Even a big stack's effective depth erodes as blinds climb, so BB measurement stays essential.
A turbo tournament structure is characterized by:
Turbo formats use short levels and fast-rising blinds, increasing variance and forcing action.
What does an 'add-on' typically let a player do?
An add-on is an optional one-time purchase of extra chips, generally offered when the rebuy period ends.
With only 8 big blinds, a hand like Ace-King is usually best played as:
At 8 BB you lack chips to play multiple streets, so strong hands become straightforward preflop shoves.
Review — all 25 questions & answers tap to expand
-
In a poker tournament, what is a chip's cash value while play is ongoing?
Answer None — chips only determine finishing position
Tournament chips have no direct cash value; only your finishing position determines what you win.
-
What does the '+9' represent in a '$100 + $9' buy-in?
Answer The fee/rake kept by the operator
The second number is the fee (rake) the operator keeps; only the first number funds the prize pool.
-
The main difference between an MTT and a Sit & Go is:
Answer An SNG starts when a fixed number of seats fill; an MTT has a scheduled start time
An SNG begins the moment its seats fill, while an MTT starts at a scheduled time with an open field.
-
What happens when a blind level's clock expires?
Answer Blinds increase to the next level automatically
Blinds rise on a fixed schedule; when a level's timer runs out, the next level begins regardless of the action.
-
You have 12,000 chips at 200/400. How many big blinds is that?
Answer 30 BB
12,000 divided by the big blind of 400 equals 30 big blinds.
-
Why do skilled players measure their stack in big blinds instead of raw chips?
Answer Because chip counts are arbitrary and their value changes each time blinds rise
A raw chip total means little; big blinds show how much real playing room you have as blinds climb.
-
What is an ante?
Answer An extra forced bet added on top of the blinds, usually in later levels
Antes are additional forced bets that inflate the pot before the deal, common in later stages.
-
In the common 'Big Blind Ante' format, who posts the ante?
Answer One player posts a single ante equal to the big blind for the table
The Big Blind Ante has one player post a single table-wide ante equal to the big blind, speeding up play.
-
How do antes affect strategy compared to blinds-only play?
Answer They inflate the pot preflop, rewarding aggression
With extra chips in the pot before the deal, there is more to win by opening, which rewards aggression.
-
Roughly what fraction of a large MTT field typically gets paid?
Answer About the top 10-15%
Standard MTT payouts reach roughly the top 10-15% of the field; the rest cash nothing.
-
What is the 'bubble' in a tournament?
Answer The last position that finishes without a payout
The bubble is the last unpaid spot; busting there means leaving with nothing just short of the money.
-
A 'freezeout' tournament means:
Answer Once you bust, you are out — no rebuys or re-entries
In a freezeout, a single elimination ends your tournament with no way back in.
-
What is 'late registration'?
Answer The ability to enter an MTT for the first several levels after play has begun
Late registration lets new entries join during the early levels, growing the field and prize pool after the start.
-
If blinds rise from 200/400 to 600/1,200 and you never play a hand, your 12,000-chip stack goes from 30 BB to:
Answer 10 BB
12,000 divided by the new big blind of 1,200 equals 10 big blinds — your stack shrank without losing a pot.
-
Tournament payout structures are best described as:
Answer Steeply top-heavy, with first place taking the largest share
Payouts are top-heavy: first place earns far more than the min-cash spots.
-
A 'min-cash' typically returns approximately:
Answer Around 1.5-2x the buy-in
The minimum cash usually pays a small multiple of the buy-in, roughly 1.5-2x.
-
Which best describes the 'structure sheet' published before an event?
Answer A schedule of blinds, antes, and level lengths
The structure sheet lays out how blinds, antes, and level durations progress through the tournament.
-
In a re-entry event, busting your stack means:
Answer You leave your seat and can register again as a brand-new entry
Re-entry requires busting out and re-registering as a completely new entry, unlike an in-seat rebuy.
-
Why can a big stack pressure medium stacks near the bubble?
Answer Medium stacks are desperate to survive into the money and fold too much
Players clinging to survival near the bubble over-fold, letting big stacks steal blinds and antes cheaply.
-
A tournament charging a $10 + $10 buy-in has a rake of:
Answer About 100% of the prize-pool portion
By this block's convention (a healthy fee is 5-10% of the PRIZE portion), a $10 fee on a $10 prize contribution is a 100% rake — it is only 50% of the total buy-in. Either way it is extremely high versus a healthy 5-10%.
-
A single-table SNG most commonly seats how many players?
Answer 6 or 9 players
Classic single-table SNGs run 6-handed or 9-handed before starting once seats fill.
-
When you have a large chip lead, thinking in big blinds still matters because:
Answer Rising blinds constantly change how deep even a big stack really is
Even a big stack's effective depth erodes as blinds climb, so BB measurement stays essential.
-
A turbo tournament structure is characterized by:
Answer Short levels and steep blind increases
Turbo formats use short levels and fast-rising blinds, increasing variance and forcing action.
-
What does an 'add-on' typically let a player do?
Answer Buy extra chips once, usually at the end of the rebuy period
An add-on is an optional one-time purchase of extra chips, generally offered when the rebuy period ends.
-
With only 8 big blinds, a hand like Ace-King is usually best played as:
Answer A simple all-in shove preflop
At 8 BB you lack chips to play multiple streets, so strong hands become straightforward preflop shoves.