It is important to understand the differences between tournaments and cash games before you move from one to the other. Most newcomers to online poker start with small stake tournaments. This ensures that the maximum you can lose is your buy-in and as this will be small the risk isn’t great. This does induce the kind of play covered in my Online v Offline article but at least you know where you stand. There are two main types of tournament – STT & MTT.
STT’s are Single Table Tournaments and are also referred to as Sit ‘n’ Go’s. This is a game played under tournament conditions on just one table of 6 or 10 players. A Sit ‘n’ Go is, as the name suggests, an STT where players sit down at a single table and once the table is filled the game begins. There is no scheduled start time. Players play to knock each other out until one is left standing who takes the first prize. The prizes are a percentage of the total buy-in, less house rake. So for example, a 10 player STT with £10 buy-in gives £100 in total. £5 will go to the house, £50 will go to the winner, second place will get £30 and third place receives £15.
MTT’s are Multi Table Tournaments are the most common kind of tournament. The one you will probably be most familiar with. This is a game played under tournament conditions across multiple tables and are scheduled to begin at a certain date and time. Players play to knock each other out until the tables are worked down to one final table. Play then becomes akin to an STT where you play to a finish. During the tournament tables are ‘balanced’ meaning empty seats are filled to try to keep the number of players on each table equal. For this reason you could find yourself moved around during the tournament. There will be a schedule of the prize money split on the tournament listing once entry is completed.
Both these tournament types have a buy-in but there is another form of tournament known as a ‘freeroll’. These tournaments are free to enter and are hosted by the poker room as an incentive to play with them and as a loyalty bonus. Many freerolls are indeed free to enter (ie. no cash is required) but they often have a minimum in terms of poker points. This ensures that regular players get the benefit and the freeroll leeches can’t play! Freerolls have a prize fund put up by the poker room or the freeroll sponsor and are played to the same rules as MTT’s.
Cash games (also known as ring games) are an entirely different proposition to tournaments. Much of the strategy involved in tournament play goes out the window at the cash table. The blinds never increase, nobody is ‘knocked out’, there is no start or end time, and most importantly you are playing with your own money! This is the one thing that puts most new players off playing for cash but it really shouldn’t. I’ll explain why in a moment but first we’ll look at some of the basics of playing for cash.
The basic strategies involved are covered in later articles but the basics of the game should be familiar. There is a big and small blind to get the action going. These rotate round the table with the dealer button and players bet in turn as normal. The blinds never increase in cash games. You can bet, call and raise in the usual manner and the amount you can raise is determined by the type of table you are playing. There are 3 different types of cash tables – Full Limit, Pot Limit and No Limit.
Full limit tables are those where the maximum you can raise is set by the big blind. If you are on a £1/£2 the maximum raise is £2. Usually there is a limit of two raises per pot before the cards are turned.
Pot limit tables are those where the maximum you can raise is the amount in the pot. The amount rises with each raise. For example if there is £5 in the pot, you can raise £5. If one person calls there is £15 in the pot and the next raise can be £15. And so on.
No limit tables allow you to raise as much as you like, based on how much you have in your stack.
Each of these tables require a different approach and your tactics will need to be varied. The tables are usually grouped into High, Medium and Low stake tables where the amount of money required for you to sit at the table will vary. A £1/£2 table will typically have a minimum of £30 to play whereas to play a £5/£10 table you will need something more like £100 minimum to sit down.
So as I mentioned earlier there is no reason to be scared of cash games. There are tables available where you can play within limits and be guaranteed to not lose too much. The Full Limit tables are ideal for this but again you need to be aware that the lower stake limit tables see the most adventurous players due to the fact they aren’t risking much. Tight play at these tables will usually see you ok and you can build your experience and confidence towards playing the higher no limit tables where the games are better and the winning potential far higher.