By poker_boy | 4 Comments
Last updated: Friday, April 15, 2011 | 86 Views Tags: poker game, poker players, prize money
This week’s question is a good one. Let’s have a look:
Question: i am kinda confused because i hear winner takes all and i am just wondering on how the prize money is given to poker payers
Answer: If it is a tournament you get the prize money only.
If it is a cash game you get the money that you win in the game (there are no prizes for finishing first or second).
If it is a cash game you get the money that you win in the game (there are no prizes for finishing first or second).
Comments
4 comments
Mike Smith
April 15, 2011
When they finish playing they go to the service desk and give them a ticket that he got from the guy that was servicing the table and they give the player his prize money.
April 15, 2011
If there is prize money for a tournament, you aren’t making money during the game, the chips have no value, it’s just for the tournament.
April 15, 2011
I think you are confusing cash games with tournaments.
In a cash game, you sit down whenever you want to, and leave when you want to.
There is no well defined beginning and end, the dealer simply keeps dealing hands as long as there are players sat down and the blinds do not increase.
In a cash game, the player chooses how much to buy in for (within limits) and the chips have real monetary value: if you buy in for $200 you will be given $200 worth of chips. If you lose it all, you can rebuy as many times as you like. You play for as long as you wish, and when you leave you exchange the chips for real money: maybe you’ve played your way up to $290 by this time, so you would be given $290 by the cashier. There is no obvious 1st place or 2nd place in this format. Players come and go, some will win money some will lose money.
Tournaments poker is different.
In tournament poker, you pay your buy in fee (which is the same for every player) and then get a stack of chips. The value of the chips is not directly related to the buy in amount.
Rebuys may be allowed, but will be limited. After a certain point, nobody will be allowed to rebuy.
So, everybody buys in at the same time and then you simply keep playing until one person has all the chips. The blinds increase periodically, forcing the action. One by one, the players will be eliminated until only there is only one remaining player. This person is the winner. The prize pool (the money from all the buy ins) is then divided between the top finishers. If a tournament has 9 players, then the prize money will usually be split 50%/30%/20% between 1st 2nd and 3rd. If a tournament has 10000 players, then roughly the top 1500 finishers will get paid (obviously 1st will get the most, then 2nd, 3rd and so on)
It is rare to see a tournament in the ‘winner takes all’ format. Usually it only occurs for the sake of publicity in televised poker: "winner takes all" sounds much more exciting than "winner takes 50%, 2nd takes 30% and 3rd takes 20%."
April 15, 2011
there is a prize pool which is all the buy ins from the entrants and then there are place you can finish in the money. and then there are winner takes all tournament where there is only one winner