Tournaments
Short stacks and prize pools, where chips stop being worth the same.
- Push/foldA short-stack strategy where every hand either goes all-in or folds.
- chipEVEV measured in chips, assuming every chip is worth the same.
- ICMThe Independent Chip Model, which converts tournament stacks into shares of the prize pool.
- Risk premiumThe extra equity ICM demands for an all-in, over what the chips alone would need.
- Covering stackA stack that covers yours has at least as many chips, so losing an all-in against it knocks you out.
- Pay jumpThe extra prize money for finishing one place higher.
- Chip leaderThe biggest stack at the table, which covers everyone and so risks the least in any single all-in.
- SatelliteA tournament that pays equal prizes, usually seats in a bigger event, to everyone who survives to the end.
- Bounty (PKO)Cash paid for knocking a player out; in a progressive knockout half is paid now and half goes on your head.
- Bounty-adjusted pot oddsPot odds with the bounty's value added to the pot you win, so calls need less equity.
- Tournament runA whole tournament at /tournament, from the first hand to the final table, with EV loss shown for each stage.
- Tournament stageWhere a tournament run stands: early, middle, near the bubble, in the money or at the final table.
- AnteA small forced bet every player (or just the big blind for the table) puts in before the cards are dealt.
- Shoving from the small blindGoing all-in or folding from the small blind when only the big blind is left and stacks are short.
- Calling a shoveCalling or folding in the big blind when the small blind goes all-in.
- First-in shovingShoving or folding first in at a full table, where every player behind you might call.
- ROIReturn on investment: average profit per tournament as a share of the buy-in.
- In the money (ITM)Finishing in a paid place; ITM rate is the share of tournaments a player cashes in.
- VarianceHow far results spread around the average: in tournaments, a very wide spread.
- DownswingA stretch of results below your previous high, measured in length and in buy-ins lost.
- BankrollThe money set aside for poker, counted in buy-ins of the games you play.
- Risk of ruinThe chance of losing your whole bankroll before your edge pays off.
- RakeThe share of each buy-in the site keeps as its fee instead of adding it to the prize pool.
- Blind level (25/50)The forced bets for the current level, written small blind / big blind in chips, such as 25/50.
- RebuyPaying to top a stack back up during a tournament's rebuy period, priced like a second buy-in.
- Add-onA one-time top-up offered to every player at the end of the rebuy period, whatever their stack.
- Late registrationEntering a tournament after it has started, for the same starting stack but fewer big blinds of depth.
- Chip chopSplitting what is left of the prize pool by chips, after every player first locks up the smallest prize still to come.
- ICM chopSplitting what is left of the prize pool by each stack's ICM equity over the payouts still to come.
- Buy-inThe price of entering a tournament, or the chips you sit down with in a cash game.
- MTT (multi-table tournament)A multi-table tournament: a poker tournament spread over many tables that are merged as players bust.
- Final tableThe last table of a tournament, where the biggest prizes are decided.
- Sit and go (SNG)A tournament that starts as soon as its seats are filled rather than at a set time.