Definition
A poker format in which players pay entry fees (buy-ins) that form the prize pool. At the start of a tournament every player receives the same number of chips, and a player who loses their whole stack is eliminated (unless rebuys and add-ons are available). The number of paid places is announced by the organizers before the event starts. The higher the finishing place, the bigger the player’s prize. Unlike cash games, in a tournament the blinds increase gradually, and antes may appear in the later stages.