Gamblers love placing bets and winning big prizes. But most of the thrill takes place when there is a tough competition between players. The competitive spirit is what drives gamblers to arrange huge international tournaments with million-dollar prize pools.
Every competitor has a chance to win a life-changing prize.
Tournaments are great for professionals to show their skills and newbies to gain experience. For some people, a casino tournament is a hobby, job, and the whole life at the same time. This article explains what these tournaments are, how they work, who can compete and what they can win.
Types of Casino Competitions
In general, casino competitions fall into 2 categories: paid and free. The paid events require the entry ticket, while the free tournaments do not require anything from you. The competitions are organized in several ways. You may find the following types of tournaments on the Internet:
- Scheduled. These tournaments start at a preset time and date, so you have to register beforehand in order not to miss the competition.
- Occasional. You visit a casino and see the tournament announced. You enter it and wait for other players to join. Once all the participants gather, the tournament begins.
Speaking of the games played, most of the competitions are centered around slots and table games. Poker is the most popular tournament game. However, blackjack, baccarat and roulette sessions take place very often too.
Regular tournaments accept all kinds of players. The participants can compete against each other and win real money. Therefore, you need to have an initial bankroll to be able to defeat your rivals.
Also, you need time. The competition can last several hours. Generally, it is difficult to predict how long the contest is going to last. It all depends on the number of players and the games played.
The more people participate, the more time it takes to finish the tournament. Sometimes, gamers can prolong the session until they spend all the credits.
How exactly does the contest work? You either register for the scheduled tournament or join the occasional one. Then you start playing. Depending on the rules, several games may be available.
For each action in the game, you collect points and your results will be displayed on the leaderboard. Typically, it shows the top 25 players.
In the end, the top 5 or 10 players are rewarded with a portion of the total prize pool. The winner-takes-it-all concept also works. It means the number one player is the only person who takes the total prize.
Entry Tickets Required
In most cases, you are required to buy an entry ticket to take part in a tournament. Sometimes, the casino will send you a personal invitation. The prize pool is formed on the basis of the entry tickets the players bought.
Thus, big competitions have big prize pools. These tournaments are often scheduled and have a fixed timeframe. When the time is over, the leaderboard shows the winner.
Although any player can participate, you need to qualify for some competitions. You can get the required qualification during satellite tournaments.
Such qualifying events are often held before the international Poker championship. It is an obligatory procedure for large-scale events. It is a method to single out the best players, who can then compete against each other
Online casinos arrange free tournaments quite often. Players do not have to pay for the entry. Since there is no money for the prize pool, the winners receive much smaller rewards. Casinos often reward top players with bonuses which they can use in different games. A free contest has a promotional purpose mainly.
Players will likely be inspired to try a paid tournament after a successful round during the free event. In addition, it is a chance to improve your skills without risking your own money.
Competitions for High Rollers
High rollers are players who spend big money at casinos regularly. They play with high stakes and expect huge wins in return. Gaming rooms arrange special competitions for such players exclusively. To get an invitation, you often need to be a member of the casino loyalty program and pay a huge entry fee.
The entry tickets for these tournaments reach thousands of dollars. For example, the Super High Roller Bowl competition required a $500,000 buy-in in 2015. The prizes can reach millions of dollars.
Strategies and Winnings
A winner can be determined in different ways. Your strategy should be based on the way rankings are formed. Generally, you are required to either make as many rounds as possible or collect the biggest winnings. In the former case, the best strategy will be to place small bets and make as many rounds as you can.
Check out the rules carefully since there might be a fixed minimum wager.
In the latter case, big bets mean big winnings. And it requires a much bigger bankroll. So, evaluate your financial capacity and always read the rules.
Biggest Pools and Winnings
It was already mentioned that the prize pool is the source of winnings and is formed on the basis of the players’ entry fees. However, the winners receive only a portion of the total prize pool. The other portion goes to a gaming room. Let’s imagine that an entry ticket costs $150. $140 goes to the prize pool and $10 to the casino.
If 500 players competed, the total reward would be $70,000, and $5,000 would act as the casino earnings.
Typically, the number one player gets 50% of the whole prize pool. Following the above example, the winner receives $35,000. The holder of the second place receives $17,500, while the third one is rewarded with $8,750.
Often tournaments allow a rebuy option. When, for instance, the player is running out of chips in poker, he or she can buy more of them to continue playing. In this case, the whole rebuy sum is added to the jackpot, therefore, increasing it.
Slot tournaments often determine the winner by the number of spins and the winnings collected. In both cases, you need to spin the reels as fast as possible.
When you participate in a tournament, the winnings shown by the slot machine do not represent your actual profits but determine your place on the leaderboard.
Sometimes, the participants have to complete certain quests like hitting maximum free spins rounds or wagering the most in a fixed period of time. A competition often lasts for an hour or less. Since the gameplay is incredibly easy, slot competitions often gather thousands of people.
With the entry tickets of at least $100, you can win anything between $20,000 and $50,000.
Table Games Tournaments
Table games competitions often involve blackjack, baccarat, and poker. Big players adore poker and arrange international competitions. The World Series of Poker 2006 collected $82,512,162 in total. The winner received $12,000,000. All card games require patience, the ability to analyze your rival’s actions and count the cards.
Bluffing is a very useful skill as well. Also, you need to manage the bet size and monitor your chips in order to stay in the game till the end. You will be able to learn the rules and master these skills only through constant practice.
How and Where Questions?
You can take part in the tournament by registering at a casino. Once you become a member of the gaming room, you will be notified of upcoming events. In the beginning, try free tournaments to learn the ropes on your own.
To take part in a paid competition, you will often have to make the first deposit at the casino. Since it comes with a decent welcome package, it is a beneficial investment for a gambler.
Small contests are arranged regularly on a monthly and daily basis. The huge ones take place yearly and you often need to win the satellite events to qualify.