Tournament Poker Majors and Online Tournaments

Tournament poker has been attracting more and more participants in recent years, and consequently, has also grown richer in terms of prize pools. This success is due in part to a booming online gambling industry and to healthy television coverage.

A poker event can feature any type of poker game, but usually stud games and community card games are played. Texas Holdem, Omaha and Seven Card Stud are often represented. A game may be played under different betting structures: fixed limit, pot limit and no limit.

The World Series of Poker

The WSOP is the biggest of all poker tournaments. It is held every year in Las Vegas and televised on ESPN. There are over 50 categories in the WSOP at stake, with each winner getting a bracelet. The main event is $10,000 buy-in No Limit Texas Holdem, with a prize money worth millions.

In recent years, two unknown players have won the WSOP main event after qualifying in an online satellite tournament. This has caused amateur participation in the main event and the WSOP overall to rise dramatically. In the main event alone, buy ins have gone from just over 800 in 2003 to almost 9,000 in 2006.

Professionals wishing to retain some exclusivity then lobbied for the re-inclusion of an old experiment, HORSE, in the WSOP. HORSE is a mixed-game featuring Holdem, Omaha, Razz, Seven Card Stud and Eight or Better. Only an all-around full-time player could win this game. Pros hoped that the difficulty level of the game, as well as a higher buy-in, would deter amateurs from joining. And they were right. The WSOP re-introduced HORSE at a whopping $50,000 and so far has kept the amateurs out.

The World Poker Tour

The WPT is a US-based series of tournaments aired on cable television. This top-rating show, hosted by WSOP winner Mike Sexton and actor Vince Van Patten, has done much to popularize table poker in America. Its first season took place from late 2002 to early 2003.

The show uses innovative technology that lets viewers see players' hole cards. The hosts comment live on the game but remarks on the hole cards are taped afterwards.

Online Tournament Poker

Online poker sites often hold tournaments for their members. These can be freeroll events (no entry fee), or buy-in events just like "real" poker tourneys. The entry fees are typically very cheap compared with the majors that run into the thousands. A single tournament can have hundreds or thousands of participants. Players should have a good internet connection as a temporary disconnection or crash could cause them the tournament—and their money.

In a way, online poker is the professional poker player's nightmare. The satellite or qualifying tournaments offer amateurs a cheap buy-in to the major events. A few online qualifiers have gone on to win the majors, and more are hoping to repeat the same feat.

Many foolish people, after watching the WSOP on television, are thinking, "Those guys make it look so easy! I can do that!" and proceed to buy in to the biggest tournament their bankroll can afford. A day or even a few hours later, they walk away broke wondering what went wrong.

Tournament poker is different from the ring games you may be used to. Do not be in a hurry to join major tournaments. Play in cheaper or freeroll tournaments first to get used to how tourneys work. With skill and luck, you will be able to build your bankroll this way until you are ready for the majors.