If you’re looking to make money playing online poker tournaments, it’s vital to understand the background and rules of these competitions. An online poker tournament allows players to pay a buy-in for the chance of winning a prize pool. Each player receives a fixed amount of chips, and the blinds begin at a low level. Following a set period, the blind levels rise, and antes come into play.
After players face elimination, the tables require balancing so that there are equal numbers of players at each table. After enough players go through elimination (usually 85-90%), the remaining players are “in the money” and can expect a return, even if they lose.
The tournament continues until only one table remains, known as the final table, which offers the biggest prizes. Players have the option to reach a compromise with each other about the distribution of the prize pool, but the decision must be unanimous.
The tournament ends when one player has all the chips, receiving the top prize. However, there’s much more you need to know before maximizing your poker tournament ROI. The following tips will help you prepare for and succeed in online tournaments with small stakes.
Ways to Make Money Playing Online Poker Tournaments
A “Balanced Style” of Playing Doesn’t Need to Be a Priority
If someone recommends a balanced style of play in tournaments with small-stakes large-field poker, feel free to laugh.
Although you will need to use this style higher in the poker food chain, you are unlikely to meet the same players again in a field with 3,000 to 10,000 foes. Therefore, you can be as unbalanced or as balanced as you like.
In other words, you don’t need to worry about revealing certain patterns in your play. You should be careful against more skilled opponents, but you won’t have a problem against larger fields of lesser-skilled opponents.
Observe the Betting
When looking at different ways to make money playing online poker tournaments, you’ve undoubtedly heard poker players complain about their luck. Our personal favorites include statements like “I can’t beat these donkeys because they always hit the nuts on the river.”
However, most players don’t know that the “donkeys” often play in a way that allows you to escape from pots if necessary. Imagine a weak player limp-calling preflop, calling on both the flop and leading you into the river when the flush appears. This turn of events means that this individual usually boasts a flush.
Additionally, different poker rooms and casinos usually offer more lucrative prizes than others. It pays to research what’s on the table before deciding, and some venues have a history of providing particularly generous benefits to poker tournament players. Royal Panda is the perfect example. When searching where you can find Royal Panda’s promotions easily, check out the namesake site section. There’s also a Royal Panda joining bonus in the mix, so remember to claim that offer while you’re there.
Put Maximum Value on Your Bet & Don’t Complicate Things
Running an elaborate bluff during any online poker tournament guarantees only failure.
Many opponents won’t notice that you are representing one hand because all they care about are the cards in their hand. In other words, they just want to win and get to the showdown.
The safest and most effective way to navigate these events is to not complicate things. Let the cards fall as usual and stick to the basics. This method is the only way to ensure you get the most value out of your handmade hands.
Tournament grinders with higher stakes may place 1/3-pot-sized bets on their opponents. However, it is more complicated to make a profit at these stakes. However, you can bet more at the lower end. Your opponents will love to call you on your bets, making it easier to profit from your strong holdings.
Accept the Crazy Swings as They Occur
Variance is a critical factor you must note if your goal is to make money playing online poker tournaments. The variance is high because of the numerous opponents in small stakes tournaments. Simultaneously, it’s challenging to play against many of these opponents.
It is just as vital to remember that players can call your raises (even your all-in-ones) with ridiculous holdings, which increases the uncertainty of the outcomes.
This situation can be beneficial in the long term, but it can also lead to you running much worse than you thought possible. So, you’ll need to ensure that you have enough money to soften the blow in case of an emergency. We recommend maintaining a bankroll of between 200-300 times your average buy-in.
Expect Long Sessions & Welcome Them When They Come
These low-buy-in, large field tournaments can take many hours to complete, so be ready to play for long periods. Therefore, you should be patient and stay prepared for a long grind if you want to get deep into the event.
If you’re a pro poker player who can go to sleep every night, you have an advantage over thousands of others. However, you need to consider your job obligations. Registering for these events means you need to be aware of the risks.
Additionally, this tip on how to make money playing online poker tournaments doesn’t apply to only low-stakes events. Even pros like Felix Schneiders and Arlie Shaban advise players to be patient. Simultaneously, not all tournaments require a 12-hour commitment. Every poker site has a calendar with faster online tournaments that allow you to have fun and win significant amounts.
Poker Tournament Reminder
When people think about an online poker tournament, they often think of a multi-table one. These competitions allow players to register unlimitedly and offer cash prizes. The play takes place at multiple tables until the last few remaining players.
Sit-and-go tournaments work in the same manner as regular tournaments, but they have a fixed number of players. The tournament begins once all players have registered. Sit-and-go is usually a single table with players. However, some online poker tournaments offer a sit-and-go design for up to 180 players.
Re-buy tournaments are also identical to classic matches. However, players can only buy their way back in after the first few hours. After the rebuy period, the tournament continues in the usual way. Players face elimination until there’s only one winner.
Satellite tournaments have numerous similarities to regular games but boast a different prize pool. These contests allow you to play for an entry, or a ticket, into a bigger buy-in tournament. Consequently, players can participate in large tournaments without the necessary bankroll, which is a particularly convenient way to make money playing online poker tournaments.