When it comes to a poker tournament, the rules and regulations are not really set in stone. Every tournament may have its own unique rules and regulations that would be decided by the poker room that organizes it. However, there are a few basic rules that tend to generally apply to most of the tournaments today. Understanding these rules will make it easier for you to follow the game and know what to expect when you start playing.
Rules about chips
Generally, in all poker tournaments the players will all start with the same number of chips. Some of these tournaments may also allow you to purchase additional chips during the later stage of the game. Normally, these tournaments are known as the buy-in or the rebuy tournaments. However, not all tournaments will offer you this option so it would be necessary for you to check the details before you sign up for it. Players would be able to participate in the tournament until they run out of chips if there is no re-buy option available in the game. The player that manages to remain in the game till the last and has all the chips would be the winner for the tournament. The tournaments with the re-buy option would generally be longer and would also have higher prize amounts. The two largest tournament sites are Stars and FTP - you can visit this site for the latest download of both Full Tilt Poker and PokerStars.
Other general rules
Another rule with most poker tournaments is that there would be a specified time at which all the participants have to start playing. There may be a very few tournaments that will allow you to simply come and play when you want. Another tournament strategy with most tournaments is that the bids would increase at regular intervals. With some poker tournaments, the time frames may be specified in advance while in other tournaments it would be based on play periods. Most poker tournaments today follow these general rules but there may also be additional rules put in place as determined necessary by the organizers. Once the tournament is complete and the winner has been declared, a large portion of the accumulated prize pool would be given to the top winner. Normally, this amount is 40% of the pool, 20% normally goes to the second place player while another 10% goes to the third place player.
The prizes offered at all poker tournaments such as The WSOP are different. In many tournaments, the prize is in the form of a place or a buy-in to a highly renowned poker tournament and not cash prize and these tournaments are generally known as satellite tournaments. With the popularity of tournaments like the world series of poker and world poker tour increasing rapidly, a large number of professional players are interested in getting a chance to participate in them. However, with buy-ins of over $10,000 it is not possible for them to afford it. The satellite tournaments organized online offer them a chance to win a seat in such prestigious tournaments.
For more information on how to play both live and online poker tournaments, we recommend you check out this website. They offer up-to-date information on times and buy-ins for some of the largest online tourneys.