Difference Between Cash Games And Tournaments
Venture into the video games. These are otherwise referred to as 'multi-line' games and they work similarly to buy-a-pays. You get to choose how many lines you'd like to buy and how many credits you'd like to spend on each line. At a penny slot, you could spend 1¢ on the center line and take a spin. Every professional poker player has a friend who won big money in a large tournament, then proceeded to blow their winnings in cash games or by registering tournaments at stakes way higher than their usual. It’s important to remember that poker is a game of peaks and troughs. To survive the troughs, you need to act responsibly during the peaks.
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A game of poker can be classified in a few different ways.
There are a variety of betting structures that can be used, such
as no limit and fixed limit, and there are different versions of
the game as well. Among these versions are the ever popular Texas
Hold’em, the slightly less well-known Omaha, and every version
in between.
In addition to these classifications, there are also two main
formats the game can be played in: cash games and tournaments.
The fundamentals of the game are the same in each but the two
formats both have certain characteristics which make them very
different from each other.
You’ll probably want to try both of these formats out when
you first start playing poker, so you really should learn the
mechanics of them both. We explain the basics of each one below
to help you understand exactly how they are played. We also
summarize the main differences and see if we noticed that one
version is clearly better than the other.
How Poker Cash Games Work: The Basics
Cash games are played on a single table and can involve any
number of players between two and ten. They are played using a
fixed blind level (such as $1/$2), which doesn’t change during a
game. A player may join an active cash game at any point,
providing there’s a seat open at the table.
To join a cash game you must first buy in. This involves
exchanging cash for the equivalent value in chips. There’ll
usually be a minimum amount you can buy in for and there may be
a maximum too. The house rules and the type of game being played
will determine whether or not a minimum and a maximum buy-in
will apply. A typical minimum buy-in is ten big blinds and a
typical maximum buy-in is 100 big blinds. So in a $1/$2 game,
for example, you may be able to buy in from anywhere between $20
and $200.
Your chips all have a real monetary value when playing cash
games and money is won and lost in each and every pot. If you
put $10 into a pot and end up getting beaten by a better hand,
you’ll have lost $10 of actual money. If you win a pot with $50
worth of chips, then you’ll have won $50 of actual money (minus
what you had put in the pot of course). This aspect of cash
games might seem incredibly obvious, but it’s actually the
complete opposite to how you win and lose money in tournaments.
If you lose all your chips during a cash game, or are running
low, you can buy more by exchanging additional funds but any
table minimums and maximums will still apply. However, you can’t
usually remove any chips from the table unless you are actually
leaving the table.
On the subject of leaving, you can do this at any point
during a cash game. Any chips you have will be converted back
into cash. This is another significant difference to tournament
poker, which you will learn more about if you continue reading.
How Poker Tournaments Work: The Basics
Poker tournaments are a little more complicated than cash
games, primarily because they come in a range of different
formats and structures. We explain more about the various types
of tournaments in another article, so we’ll try to keep things
as simple as possible here.
Unlike cash games, tournaments can be played on either a
single table or multiple tables. This means the number of people
that take part is essentially unlimited. Tournaments can involve
just two players or thousands of players. Most, but not all,
tournaments that take place on multiple tables have a fixed
start time which is set in advance and these are known as
scheduled tournaments for that reason.
The alternative to a scheduled tournaments is a sit and go
tournament. These don’t have a fixed start time as they start as
soon as the required number of players are entered and ready to
play. They are generally played on single tables, with between
two and ten players taking part but they can be played across
multiple tables as well.
To enter a tournament, you have to pay the relevant entry
fee. In exchange, you’ll receive a fixed number of chips (called
your starting stack), which will be the same as every other
entrant. You’ll be eliminated from the tournament if you lose
all of your chips at any point. You don’t have the option to
rebuy more chips in the same way you do in cash games, although
there’s one exception to this rule. There’s one specific type of
tournament where you are allowed to rebuy another starting stack
when you lose all of your chips during the early stages.
The chips in tournament poker have no monetary value, so
therefore real money isn’t won and lost on each hand. Instead,
players win money based on their finishing positions. Tournament
entrants are eliminated as and when they lose all of their chips
and the last one left with all of the chips is declared the
winner. The final finishing positions for everyone else are
determined by the order in which they are eliminated.
At the end of a tournament, the prize pool (which is made up
of all the entry fees) is distributed to the highest finishing
players. There’ll be a payout structure which
stipulates how many players get paid and how much each player
wins. There are no fixed rules regarding what that payout
structure should be and it’s ultimately up to the tournament hosts but it’s
typically based on the number of entrants.
A payout structure for a single table tournament with a $10
entry fee and ten entrants might look something like this.
| Finishing Position | Prize Winnings |
|---|---|
| 1st | $50 |
| 2nd | $30 |
| 3rd | $20 |
The following illustrates what the payouts might look like
for a $50 buy in multi-table tournament with 100 entrants.
| Finishing Position | Prize Winnings |
|---|---|
| 1st | $1,500 |
| 2nd | $950 |
| 3rd | $700 |
| 4th | $500 |
| 5th | $350 |
| 6th | $300 |
| 7th | $250 |
| 8th | $200 |
| 9th | $150 |
| 10th | $100 |
Please note that for the sake of these examples we’ve ignored
the rake applied to tournament entry fees. A casino, poker room,
or online poker site will typically apply between 5-10% rake on
each entry fee, so a $10 tournament might actually cost $11 to
enter. Entry fees are usually displayed with the rake separated,
so in this case it would be $10 + $1.
The final characteristic of tournaments that we need to
mention here is that the blinds increase over time. They might
start at 5/10, for example, and then increase every 10 minutes.
The blinds levels used in a tournament, together with the rate
at which they change and the size of players’ starting stacks,
form what’s known as the tournament structure. Different
tournaments use different structures depending on how many
players are involved, the type of tournament being played, and
how long it should last.
Cash Games & Tournaments: The Differences
The key differences between cash games and tournaments is
summarized for your convenience below.
Cash Game & Tournaments: Which is Best?
We’ve outlined the main technical distinctions between cash
games and tournaments above and it should be noted that there
are other differences that we didn’t cover as well. The most
significant of these is the strategy involved. Certain aspects
of basic strategy are essentially the same for both but many of
the strategic concepts involved are entirely different.
The two formats require slightly different approaches
psychologically, as there are further differences in terms of
the potential profits in relation to the amount staked and the
variance involved. We’re not going to go into detail with these
additional differences here, as this article is targeted at
beginners. All that you really need to know as a beginner is
that each of the two formats has its own set of characteristics,
which come with certain advantages and disadvantages.
You should also know that, to some extent at least, these
advantages and disadvantages are a matter of opinion. It’s not
really possible for us, or anyone for that matter, to state
definitively that either cash games or tournaments are the
“best” poker format, as it’s ultimately down to personal
preference.
Many poker players choose to focus on playing either just
cash games or just tournaments, while many prefer to play both.
Either approach is absolutely fine. There are certainly some
benefits to concentrating on a single format, but there are
benefits to playing both too. There’s no right or wrong approach
here and it’s entirely up to you to choose what you want to
do.
Our advice on this subject is simply to try both formats out
for yourself. You might find that you enjoy playing one
significantly more than the other, or you might find that you
get noticeably better results in one over the other. If you’re
playing primarily for fun, then you should stick to what you
enjoy the most, whereas if your goal is to make money, then you
should focus on what makes you the most profit.
A lineup that crushes your competition in a cash game can land you at the bottom of the field in a GPP, and vice versa. One of the worst mistakes you can make in DFS is entering the same roster in both contest categories.
In fact, doing so is a surefire recipe for losing.
Here’s the good news: once you understand the differences between cash games vs. GPPs, and learn how to create lineups that cater to the nuances of both, your odds of winning increase dramatically.
Below, we’ll define both categories of contests. We’ll then cover the most important tips for drafting fantasy football lineups in each of them.
Let’s start with cash games.
What Types Of Contests Are Considered “Cash Games”?
The easiest way to distinguish cash games is to think of them as being anything other than a large tournament. That’s an overly-simplistic definition, but it’ll suffice for our purposes.
The most common types are 50/50s and head-to-heads. A 50/50 is a contest that pays out to the top 50% of the field. There can be anywhere from a few participants to several thousand. A head-to-head, or H2H, is a contest whereby you compete against one other team owner. The winner takes all (less the DFS site’s rake, of course).
Other types of cash games include double-ups and multipliers.
Double-ups work the same as 50/50s. The main difference is that slightly less than 50% of the field cashes. But those who cash receive double their money since no rake is taken by the DFS site.
This type of contest is so similar to a 50/50 that the two terms are often used interchangeably.
Multipliers give you a chance to win a multiple of your entry fee. For example, let’s say you “buy in” with $10. If you win, a 3X multiplier would pay out $30. A 10X multiplier would pay out $100. Compared to a 50/50 or double-up, you have less chance of winning since the field percentage that gets paid is comparatively smaller (ranging between 8% and 30%).
My advice to new cash game players is that if you plan to play $20 per week worth of cash game plays then you would be better served playing 20 different H2H matches (running the same lineup in all of them) than playing in one $20 50/50.
Why?
Because in a large 50/50 half your ‘mediocre’ lineup is either going to cash or not. In 20 different H2H competitions you same lineup will beat some of the competition even if you don’t beat them all.
Cash game fantasy football is a great way to build a bankroll and slowly increase your DFS bankroll.
Now, let’s take a look at GPPs.
Guaranteed Prize Pool Tournaments Defined
There are three defining traits of a GPP. The first two are the size of the field (i.e. the number of entrants) and the size of the prize pool.
Some of these tournaments draw a quarter of a million entrants and pay out more than $1 million to the top winner. Most GPPs pay out less, with some paying as “little” as a few thousand dollars to first place.
There is a “Quarter Arcade” contest every week at Draftkings that literally costs a quarter to play. Of course you can also join in the weekly NFL freeroll (usually available) even if you don’t have any money on your account already.
The third defining trait is that the prize pool is guaranteed.
For example, DraftKings is currently hosting a Beginner NFL $120K Play-Action GPP. The site guarantees it’ll pay out $120,000 to the field even if the number of entrants fails to reach the maximum number allowed to play. The same goes for its NFL $4.44M Fantasy Football Millionaire GPP. DraftKings is guaranteed to shell out over $4 million, even if it fails to draw in the maximum number of entrants.
Now that you know the differences between fantasy football cash games vs. GPP tournaments, let’s talk about how to create productive lineups, starting with the former.
Cash Game Strategy: 7 Keys To A Building Your Fantasy NFL Cash Lineup
What follows isn’t meant to be a comprehensive guide to cashing in fantasy NFL 50/50s, H2Hs, double-up, and multipliers. Rather, these are the seven most important tips for putting together lineups that’ll improve your odds of winning.
Remember, nothing is guaranteed. That said, these tips will give you an edge over one-week fantasy football players who ignore them. And believe me, there are plenty of players who do exactly that week after week.
#1 – Slot A Stud Quarterback
You need a stud QB in your roster.
You want someone you can count on to produce. This isn’t the time to get clever, drafting a sleeper who might bust. Your QB is your insurance policy in cash games. Be ready to spend for someone who’s expected to post a large volume of points.
#2 – Look For High Floors
Winning 50/50s and double-ups is all about playing conservative. Remember, half (or nearly half) of the field gets paid. While high ceilings and plenty of upside are sexy, they’re not as important as high floors. You can find projections from tons of different sources.
A high floor signals reliable production. That’s valuable when you’re grinding it out in cash games.
#3 – “Good” Is Good Enough
Suppose you’re competing in a 50/50 with 100 entrants. You don’t need to land in first place. You can place 50th and get paid the same amount as the first-place winner. So don’t spend hours trying to put together the perfect lineup.
It’s unnecessary. Moreover, it’ll suck up valuable time, which will prevent you from creating multiple rosters.
Good is good enough.
#4 – Vary Your Fantasy Football Lineups
There’s no single perfect lineup. There are only lineups that give you a solid chance of landing in the top half of the field.
So if you plan to enter multiple 50/50s, double-ups, and other cash games, don’t use the same roster. Use variations. Hedge your bets by slotting different QBs, receivers, and backs.
Remember, there’s more than one stud QB playing each week. There are also numerous reliable receivers and backs playing each week. Switch it up.
#5 – Draft Consistent Receivers
Fortunately, there’s a lot of consistency at wide receiver. Week-to-week production is fairly predictable.
The trick is to focus on guys who are usually targets for their respective QBs. A receiver who gets a lot of touches is highly likely to convert those opportunities into fantasy points.
In my opinion, you want to draft at least one stud at this position. Fill the other two slots – both DraftKings and FanDuel require you to draft three receivers – with value plays who offer high floors.
#6 – Follow The Crowd – Chalky Plays Are Good In Cash Games
If everyone drafts Matt Ryan, do the same. If most of the field slots DeMarco Murray, put him in YOUR lineup. If you notice a high percentage of entrants picking Julio Jones, it’s a good idea to follow their lead.
This isn’t the time to be a contrarian. Follow the crowd when picking star players. That way, your roster won’t fall behind when those stars produce.
#7 – Watch Out For Sharks
Fantasy football head-to-heads are a lot of fun. It’s you against another team owner. But be wary about who you’re squaring off against. There are a lot of very experienced DFS players who wait around for newbies to enter H2Hs. For them, it’s easy money.
Both DraftKings and FanDuel have made it easier to identify experienced players. Look for badges that indicate successful track records. If you’re new to cash games, the last thing you want to do is compete against someone who has entered thousands of contests and won thousands of dollars in payouts.
Let’s shift gears and talk about weekly fantasy football GPP strategy.
GPP Tournament Strategy: 7 Factors To Keep In Mind
Difference Between Cash Games And Tournaments Draftkings
In order to have any chance of winning an NFL GPP tournament, you need to take an entirely different approach to lineup construction than the one we just discussed. GPPs are all about high ceilings, high upside, high variance, and taking risks.
Following are the top seven things to think about when creating rosters for large-field fantasy NFL tournaments.
#1 – Think “Boom Or Bust”
You need to roll the dice. Because the payout structure of a GPP is so top heavy, you have to take risks to finish high enough that you’ll get paid.
To that end, you want players who are going to turn in the best performances of their season, or totally bust. You’re not looking for anything in between. A mediocre performance is the same as a terrible performance in a GPP: it’s a losing proposition.
Difference Between Cash Game And Tournament Poker Strategy
#2 – Note The Payout Structure
Familiarize yourself with how the field gets paid in a GPP. As many as 30% of the entrants might receive a payout. But don’t get too excited. The payouts are tiny at the bottom half of that structure. You need to land in the top 20% (sometimes the top 15%) just to win twice your entry fee. In some GPPs, as little as 10% of the field gets paid anything at all.
What if you want to hit a significant payday (say 10X your entry fee)? You need to land in the top 0.3%.
Make sure you know where you need to land in order to cash. Forewarned is forearmed.
#3 – Single Entry Vs. Multiple Entries
Difference Between Cash Games And Tournaments Games
One entry isn’t going to do you any favors in an NFL GPP. You’ll be going up against experienced team owners who’ll have created hundreds of lineups.
Can you win against those odds? Sure. Anything’s possible. But you’re better off entering multiple lineups. Each one gives you another chance to win.
It’s like participating in a large raffle. You can definitely win with one ticket. Anything’s possible. But your chances of winning increase significantly with each additional ticket you buy. The same goes for entering lineups in a football GPP.
#4 – Learn To Love Variance
Variance scares a lot of novice weekly fantasy football players. It’s the antithesis of predictability. That being the case, it’s understandable that it makes folks uncomfortable.
But variance is our friend in GPPs.
Think of it this way: if variance didn’t exist, you’d be able to forecast each player’s performance with perfect accuracy. In that case, daily fantasy wouldn’t even exist. The lack of predictability is what gives you a chance to win.
Predictable fantasy production is important in cash games. But it has far less value in large-field tournaments where the payout structure is so top heavy. Remember, you want boom-or-bust players in your lineup. That translates into high variance.
Difference Between Cash Games And Tournaments Dfs
Learn to embrace it.
#5 – The Role Of Ceiling
Difference Between Cash Games And Tournaments Fortnite
A player’s ceiling is the most number of points he’s likely to score during a given game. For example, Aaron Rodgers might have a ceiling of 31 against Jacksonville. Antonio Brown might have a ceiling of 28 against Washington.
High ceilings are crucial in GPPs. You don’t want to mess around with players who have unimpressive ceilings going into the week’s slate. Instead, take chances on high-ceiling players, even if there’s a chance they’ll fail to deliver on game day.
Remember, with GPPs, it’s boom or bust.
#6 – Stacking QBs And Receivers
Stack your QB with his favorite receiver. If you have both of them in your roster, you’ll receive double the points for each touchdown they score. You’ll earn on your QB and his receiver, including points for both passing and receiving yards.
That leverage can prove vital for winning GPPs.
#7 – Percentage Ownership – Look for low owned, contrarian plays.
Remember earlier when I recommended following the crowd when drafting players? That was for cash games. In GPPs, you want to do the opposite.
You want to fade players who are owned by a large percentage of the field, and instead draft those who are being ignored. That’s where you’ll find the breakout performances you need to leapfrog over the majority of your competition.
Use the tips above to boost your odds when competing in fantasy football cash games and GPP tournaments at DraftKings and FanDuel. Don’t be surprised if your win/loss ratio shows a marked improvement!
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