Tournaments types
Mini tournaments: Small, frequent tournaments, such as a Wednesday-night blackjack tournament, often take place on a regular basis and may draw only a couple dozen players. The entry fees tend to be minimal (typically $5 to $50), and first place rarely pays more than a couple hundred dollars, and the winner is crowned within a few hours.
Medium tournaments: These events typically take place over a couple of days and consist of multiple rounds of play with more than 100 players. The entry fee is much stiffer than that of mini tournaments (at least $100), but the prize money for the final winner is greater (normally $10,000 to $50,000).
Mega tournaments: These big dogs offer potentially life-changing prize money for first place ($100,000 and higher). The entry fee is hefty (usually $500 to $10,000), the time commitment is long (up to a week), but the possible reward is huge. (Who can resist savoring the look of envy on your neighbor’s face when you return home with $1 million in cold, hard cash?) The prospect of a huge payoff is the reason thousands of hopeful players make the pilgrimage to Las Vegas each year for the World Series of Poker.
