There are endless varieties of Poker tournaments. Here we will discuss about the Multi table tournaments, satellite tourneys and freerolls.
In a multi-table tournament, players begin with a fixed number of chips. Players at several tables compete for one another's chips as the blinds and/or antes increase exponentially. The tables are "broken" as soon as the players are defeated meaning they are re-assigned to keep tables bursting, or even with one another. Finally, the last few surviving players with chips are assigned to the ultimate table, where the final winner is the player who wins all the chips from his or her opponents. He is awarded cash prizes as on the basis of the number of tournament entries.
A satellite is a type of smaller tournament in which the prize is an entry into a larger tournament. Satellites are definitely low-cost to enter compared with multi-table tournaments. Consider an example of how a satellite tournament works-: The buy-in for one of the larger tournaments is $200+$20. The buy in for the satellite is $20+$2. Moreover, a cost of "30+3" indicates that the buy-in is $30, and the entry fee is $3.
A further different type of tournament is the "freeroll", in which admission is totally free. W organize several such tournaments.
Poker Tournament Strategy
The biggest difference between a tournament and a normal game is that once your chips are gone, you are out of the tournament. In a regular game, you have the option to buy more chips at any time between hands. This makes tournament strategy a little different. Some players simply want to place in the money while others play to win. The obvious question is why doesn't everyone play to win? The answer has to do with the variance associated with two different playing styles.
Many players who are playing to win will move all their chips in with even the slightest advantage, sometimes as low as a 52- or 53-percent chance to win any given hand. If cards break their way, they can accumulate a large stack of chips, which is needed to win late in the tournament. Getting all of your chips into the pot, however, in marginal situations such as these often leads to busting out of a tournament early when cards don't go your way.
Players who just want to get into the money usually play much tighter, trying to get better odds (often as high as 80 or 85 percent) before they push their chips into the pot. The problem with this approach is that the blinds usually eat a large part of their stack between these opportunities.
The correct strategy to become a successful tournament player is somewhere in between these two styles. As always, you should bet when you are a favorite to win, but in close situations in a tournament it may be best to hold back unless you are getting short stacked (to have the smallest amount of chips in a tournament). If your stack gets too low, you will be forced to choose a good starting hand and probably bet all of your chips, hoping no one else has a better hand.