Incase you aren’t familiar with the types of online poker rooms here are explanations of each style.
Sit N Go’s – Sit N Go’s (SNG’s) are tournaments with a set amount of players. The tournament doesn’t have a set time to start; rather it starts when the set number of players has registered. These range from single table 6 people SNG’s up to 180 or more multi table style tournaments. The top players tend to use a specific sit n go strategy when playing in these tournaments.
Guaranteed Tournaments – This is when the poker room guarantees a set amount for the prize pool no matter how many people register. For example a poker room will advertise its $50,000 guaranteed tournament that will be a $10 buy-in. In order for the room not to lose money there will have to be 5000 that register. These are great tournaments to take advantage of.
Bounty Tournaments – These tournaments split the buy-in prize pool into two different categories. A bounty is money that is paid to a player for knocking a player out of the tournament. A percentage of the prize pool is paid to players for each time they knock out a player and the other is paid out like normal to placing players. For example, a $10 buy-in bounty tournament will pay players $5 for each player they knock out, and the other $5 goes towards the normal prize pool.
Satellites – The winner of these tournaments receive a seat to an upcoming tournament with a higher buy-in. For example, if a poker room is holding a $100 buy-in event for a trip to the WSOP they may hold a $1 buy-in satellite tournament, in where the winner would receive a seat in the $100 buy-in event. This is a great opporunity for players as they have a chance to win a seat at the WSOP for $1 through satellite tournaments. If you are interested we wrote a satellite tournament poker strategy article that may help your chances at winning.
Re-Buy and Add-ons – These are normal tournaments, except for the fact that after you are knocked out players can buy back into the tournament within a given time frame (usually 1 hour). After the hour is up players can no longer buy back in if they are knocked out, but they can purchase additional chips if they are low. These make for some huge prize pools and will pay you very good if you make it far into the tournament without buying back in.