Home
MTT Poker Terminology

MTT Poker Terminology: Complete Tournament Poker Glossary

Understanding MTT poker terminology is essential for making better tournament decisions. Explore the key terms behind tournament selection, ROI, field strength, variance, scheduling, and profitability in online MTT poker.

Core MTT Terms

50 terms · 5 categories

Multi-Table Tournament. A poker tournament format where hundreds or thousands of players start simultaneously across multiple tables, merging as players are eliminated until one winner remains.

The entry fee to participate in a tournament, typically split between the prize pool contribution and the operator's rake. For example a $109 tournament may be $100 + $9 rake.

Poker Network→

An online poker platform or group of interconnected skins sharing a player pool. Different networks offer different tournament schedules, rake structures, and field compositions.

The collective group of players who regularly participate in tournaments on a given network. A softer player pool means more recreational players and higher expected edge.

The total number of entrants in a tournament. Larger fields increase prize pool upside but also variance, requiring more buy-ins to realise your long-run ROI.

Poker Format→

The specific type of poker game being played in a tournament — most commonly No-Limit Hold'em (NLHE) or Pot-Limit Omaha (PLO). Format affects strategy, variance, and where your edge is strongest.

Tournament Selection→

The process of choosing which tournaments to enter based on field quality, rake, format fit, and bankroll constraints. One of the most underrated edges in MTT poker.

Tournament Schedule→

The full list of available tournaments on a given day or week, including start times, buy-ins, formats, and guarantees. Building an optimal schedule is a key part of session planning.

MTT Schedule→

A planned selection of tournaments for a session or week, built in advance based on buy-in limits, formats, start times, and expected value. A structured schedule prevents reactive and tilt-driven registration.

Tournament Profitability→

A measure of whether a specific tournament generates positive expected value for a given player. Determined by field quality, rake, structure, and your personal edge in that format.

Late Registration→

A window after the scheduled start time during which new players can still enter with a full chip stack. Most online MTTs allow 30-120 minutes of late reg, affecting session scheduling.

The total number of tournaments played in a given period. Higher volume reduces the impact of variance on results and allows ROI to converge toward its true long-run value faster.

Tournament Series→

A collection of tournaments grouped under one brand or festival, such as WSOP, WPT, or SCOOP. Series events often feature larger guarantees, special formats, and increased traffic.

Profitability & Stats

EV (Expected Value)→

The probability-weighted average outcome of a decision or tournament entry. Positive EV means the action is profitable long-term regardless of short-term results.

Return on Investment. Expressed as: (Total Winnings - Total Buy-ins) / Total Buy-ins x 100. Requires 500+ tournaments to be statistically meaningful. Does not account for time invested.

Hourly Rate ($/Hour)→

Total profit divided by total hours played. The only metric that lets you compare events of different durations on equal terms — a 2-hour turbo vs. a 12-hour Sunday Major.

The measurable advantage a player has over the field in a given tournament or format. Edge is the foundation of all long-run profitability — without it, even perfect bankroll management cannot produce consistent returns.

ABI (Avg. Buy-In)→

Average Buy-In across all tournaments played in a period. Useful for understanding your effective stake level, bankroll requirements, and how your results compare across different buy-in levels.

The number of tournaments needed before results reflect true skill rather than variance. Most MTT metrics require 500+ tournaments to stabilise — short-run ROI is largely noise.

ITM (In The Money)→

Finishing in a paid position. ITM percentage measures how often you cash across all tournaments played. A typical winning player ITM rate is 15-20% depending on field size and format.

Variance & Bankroll

Poker Bankroll→

The total amount of money set aside specifically for poker. Kept separate from living expenses, your bankroll determines which stakes you can play and how many buy-ins you have at your current level.

Bankroll Management→

The discipline of sizing your buy-ins relative to your total bankroll to withstand variance without going broke. Standard MTT guidance is 100 buy-ins for your regular stake level.

The natural statistical fluctuation in results around your true expected win rate. MTT variance is extreme due to top-heavy pay structures — even strong players can lose for hundreds of tournaments.

Risk of Ruin→

The statistical probability of losing your entire bankroll before variance corrects. Decreases as your bankroll grows relative to your buy-in size and as your ROI increases.

A period of results significantly below your expected win rate. Downswings are inevitable in MTTs due to variance and can last hundreds of tournaments even for profitable players.

A period of results significantly above your expected win rate, driven by variance rather than a change in skill. Recognising upswings prevents overconfidence and poor bankroll decisions.

Tournament Structures

The standard tournament format where each player gets one buy-in and is eliminated when they lose all their chips. No rebuys or re-entries allowed.

A format allowing players to buy back into the tournament after busting, starting fresh with a full chip stack during the late registration window.

An option to purchase additional chips during the rebuy period, typically when your stack falls below the starting stack. Different from re-entry — you stay in your seat.

A one-time chip purchase available to all players at the end of the rebuy period, regardless of current stack size. Usually offers good value relative to cost.

Speed Structure→

The pace at which blind levels increase in a tournament. Ranges from hyper-turbo to deep stack slow. Faster structures favour push-fold play; slower ones reward post-flop skill.

A tournament with a large starting stack relative to the blinds, allowing for extended post-flop play. Rewards skill more than turbo formats but takes significantly longer to complete.

A tournament with faster than standard blind levels, typically 5-6 minutes per level. Stacks shorten quickly, shifting gameplay toward push-fold strategy earlier than in regular events.

The fastest blind structure, typically 2-3 minute levels with a short starting stack. Almost entirely push-fold from the first level. High volume, lower variance per tournament.

Bounty Tournament→

A format where each player has a cash bounty on their head. When you eliminate a player you collect their bounty immediately, independent of your final finishing position.

Progressive Knockout (PKO)→

A bounty format where half of each player's bounty is paid out immediately on elimination, and half is added to the eliminating player's own bounty. Reduces variance vs. standard MTTs.

Mystery Bounty→

A bounty format where each bounty value is hidden until collected. Eliminations reveal a random prize ranging from small amounts to a large jackpot bounty.

A tournament where the prize is a ticket or seat into a larger event rather than cash. Used to qualify for major tournaments at a fraction of the direct buy-in cost.

Top-Heavy Structure→

A payout structure where the majority of the prize pool is concentrated in the top few finishing positions. Increases variance significantly — most of the value comes from deep runs and wins.

Flat Structure→

A payout structure where prize money is distributed more evenly across all paid positions. Min-cashes pay relatively more compared to buy-in, reducing variance vs. top-heavy structures.

GTD (Guaranteed)→

A minimum prize pool the operator guarantees regardless of registration numbers. When entries fall short of covering the guarantee, the operator adds the difference — creating an overlay.

When a guaranteed prize pool exceeds total collected buy-ins. The operator covers the shortfall, adding money to the prize pool and increasing every player's EV in that tournament.

Fields & Competition

A tournament field with a high proportion of recreational or weak players, increasing your expected edge and ROI relative to the buy-in cost.

A field dominated by skilled or experienced players, reducing your edge and requiring a larger sample size before ROI stabilises meaningfully.

Recreational Player→

A player who participates for entertainment rather than profit, typically making more fundamental errors. A higher proportion of recreational players in a field increases your EV.

Regular (Reg)→

A player who consistently grinds a specific tournament or stake level. Regs are more skilled than recreational players and reduce the overall expected edge in a field.

Professional Poker Player→

A player who relies on poker as a primary or significant source of income. Professionals typically play with strict bankroll management, volume targets, and data-driven game selection.

The total number of entries in a tournament, including re-entries. Differs from unique players in re-entry events where some players may have fired multiple bullets.

The last table remaining in a tournament, typically 9 players. Final table appearances represent the highest-value stage of any MTT and are tracked as a key performance metric.