A series of games in which a fixed number of players attempt to eliminate one another by gaining all of their opponents' chips, and in which the order of elimination determines rankings that are the basis for awarding a prize or a number of prizes; as opposed to a ring game.
ADDITIONAL INFORMATION: The number of chips used in a tournament is not dependent upon the entrance fee because the chips have no cash value and are only used to determine elimination and rankings. Typically, the ante or blind required in each hand of a tournament will increase over a period of time in order to account for increased stack sizes as players are eliminated.
EXAMPLE: "I really like no-limit games, but prefer no-limit tournaments to no-limit ring games. At least in a tournament you know you can only really lose your entry fee."
APPLIES TO: Online and Land-based Venues