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The most famous poker tournament in the world is the W.S.O.P, but the best tournaments online make this type of experience and excitement more accessible. All poker tournaments have a buy-in which is exchanged for a set amount of chips. All players begin with the same amount of chips, and players compete for a specified prize structure. Tournaments provide a fair game and are a value for money option. However, you must make sure the tournament chosen reflects your skill level, playing style and requirements.

Poker tournament definitions are universal and easy to understand. A sit-and-go tournament is played on a single table, which begins once the seats are filled. These are relatively quick tournaments, and have a set prize structure, usually paying the top three places. A multi-table tournament is much larger in size, with many tables in play. It has a specified start time, and can take hours to play. Players are moved randomly as numbers get low, culminating in a final table. The prize structure is much bigger in multi-table tournaments, reflecting the larger number of buy-ins.

Freerolls are tournaments that do not require a buy-in, but that offer cash prizes or seats into other tournaments. They are popular and fill up fast, but definitely worthwhile. Satellites are low cost tournaments that offer seats into more expensive tournaments and can some of the best tournaments online. They are a cost effective way of earning fantastic prizes, such as a seat to a live event such as the WSOP. A freeze-out tournament means that once you have lost your chips you are out of the tournament. A rebuy tournament allows you to buy more chips and stay in play. A turbo tournament is a tournament that has accelerated blinds, making it faster paced and much more aggressive.