Buy-in and Prizes
Buy-in & Prizes
The cost to enter a poker tournament can range from zero, to a nominal amount, to amounts as high as $100 or more. True Poker offers both Real money and play money poker tournaments. When you register, the entry cost is deducted from your account. If you un-register before the tournament starts, the cost is refunded.
Entry costs typically involve a Buy-in, which is put towards the prize pool. There is also an entry fee, which is True Pokers fee for hosting the games. For example, a tournament might involve 30 people, each of whom buys in for $10 plus a $1 entry fee. Each players $10 goes towards the prize pool, which in this case would equal $300. The $300 prize would be split, likely between the top 4 players.
Separate from the entry fee or buy-in, each tournament has a starting chip amount the amount of chips you will be given at the start of the tournament. Chips are often set relative to the buy-in, but not always. (For example, a $10 buy-in for a tournament with a $1000 starting chips amount.)
Some poker tournaments (called free roll) will have no cash buy-in or entry fee but may require True Points, but still offer a prize, funded by the house. Other poker tournaments might require you to place in the top 10 of a prior tournament called a satellite.
And, it goes on and on. There is an endless combination of possibilities and thats part of what makes it so much fun!