Usually prize money for poker tournaments comes from entry fees. This fees is most often known as ‘buy- in’ fees. Sometimes money flows in from an external source or agency. But this amount gets invested in buying invitations only. The buy-in fetches you a calculated amount of chips to start your game with. These chips act as your ‘play money’. Play money can be re purchased only in ‘re-buy’ tournaments. The betting on these tournaments can be of three types: ·Structured Betting – bets can only be of a particular amount ·Semi structured betting – bet can vary to some extent and not more than that. ·Non structured betting – there is no fixed limit to bet. It is at discretion of player to bet as much he desires.

Then there are two basic strategies to decide upon who will be winner – Fixed Winnings and Proportional Winnings. The former are those where organization holding tournament beforehand decides upon winner. While in latter winner is calculated proportionally. These are split between players left at end proportional to amounts of play money each has accumulated during game. The escalating popularity of game and increasing number of tournaments have attracted players from all over world. It is due to fascinating and mouth watering amount that one gets on winning tournaments that women as well as celebrities too want to try their luck. So, do you want to be a part of Poker world!

In his 58th major tournament win, T.J. Cloutier picked up his 6th WSOP bracelet by winning Event #13 "No Limit Hold'Em" event and pocketing $657,100 in process. Event #14 "Seven-Card Stud High-Low Split" lasted 36 hours, but in end Steve Hohn picked up his bracelet and $156,985. Steve even endured a 4 1/2- hour heads up battle with Mike Wattel at final table to capture this tournament victory! Mark Seif was able to place a desired crown on his poker resume by winning Event #15 "Limit Hold'Em Shootout" and $181,330 in his wallet. The champion for Event #16 "No-Limit Hold'Em Shootout" tournament was Anthony Reategui, proving himself best of 780 players for title of champion and $269,100. Quinn Do ended up with $265,975 for winning Event #17's "Limit Hold'Em" tournament. Denis Ethier came from behind as final table's short stack to win Event #18 "Seven Card Stud High-Low Split". Denis was rewarded with $160,682 for his effort. And Barry Greenstein became champion of Event #19 "Pot Limit Omaha" tournament gaining another $423,405 and a bracelet. Barry in his true humanitarian form dedicated his win to a terminally ill cancer patient named Charlie Tuttle. For Event #20 which was "Pot Limit Hold'Em", Brian Wilson won $370,685 for his efforts at WSOP.

Todd Brunson, son of Doyle Brunson was winner of Event #21 "Omaha High-Low Split" tournament. Todd won $255,945 and entered World Series of Poker history, as he and his father became only father and son to win championship bracelets. And Mark Seif captured his 2nd WSOP bracelet in a week plus $611,145 to boot by winning Event #22 "No-Limit Hold'Em" tournament.

With an unprecedented number of players participating, it seems records are being broken and WSOP history is being rewritten almost daily. Recently WSOP officials revised their total prize pool estimate from $60,000,000 to $100,000,000 because amount of people entering tournaments has surpassed even their highest expectations. When this tournament series becomes televised, world will have a lot to watch.