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Rules of playing in the poker tournaments vary. However, to ensure fair play and check chances of fraudulent practices when a player plays too many hands at a particular table, most poker tournaments employ a rotational policy. So, players are swapped across one play table to another so that ultimately the number of players at a particular game table stays fixed. As players get eliminated and the field of play gets narrowed down, entire gaming tables are taken out of play. In some poker tournaments, where there are playing rounds, the winner or sometimes the last two or more poker players at table one goes on to play at table two in the next round and so on.

The ranks accorded to the poker players in a tournament follows reverse order and the winner is the player who remains to the very end of the game. This system allows no chance of a tie for the top prize and except in some informal tournaments, where players can end the competition by mutual consent, in all major poker tournaments play ends only with the emergence of one player possessing all the possible poker chips. In the tournaments, where there is the provision of withdrawal by consent, the last players who remain, instead of risking their winning till the ultimate champion is decided, mutually agree to end the game. They either share the pot according to the proportionate value of their chip stock or by any other agreed term.

Barring the cost of running the tournament, all the dough that is collected as net amount received in the form of buy-ins, constitute the winning prizes. In case of freeroll poker tournaments without a system of buy-in, external funds are used to constitute the pot money that comes from either revenue earned from sponsor deals and/or from the cash charged for entry of spectators.