Definition
The amount of money required to enter a poker tournament or cash game. This money is usually exchanged for chips for convenience. In a tournament, buy-ins make up the total prize pool, and part of the money goes to the poker room as a fee (rake). For example, in a $10+$1 tournament, $10 goes to the prize pool and $1 is rake. In cash games, the buy-in is the player’s starting stack and is usually equal to 100 big blinds.