Craps Tournaments
Craps tournaments are contests in which the entrants pay a buyin fee, receive tournament chips in return and then compete with one another to amass the most chips. These tournaments are a great value for craps players because it sets a specific buyin amount and the risk is limited to that amount.
Most craps tournaments are organized in elimination format. Rounds of play are designated by a time limit and the goal is to make it to the next round. The top couple of players from each table are moved up to the next round, while the other players are eliminated.
Benefits of Craps Tournaments
The biggest benefit of craps tournaments is the fact that they let you play a lot of craps without risking a lot of money. Once you pay your buyin, you can place all the bets you want for as long as you last in the tournament. Craps tournaments provide a great bang for your buck and they offer limited risk.
Secondly, craps tournaments eliminate the house advantage. Instead of playing against the casino, you play against the other players. You’re not wagering real money at the table, so you don’t experience the normal house advantage. Skill plays a big role in craps tournaments because you are competing against the other players.
Additionally, craps tournaments are more interesting than normal craps play. There is quite a bit of strategy involved with winning a craps tournament. Much of the strategy revolves around picking your bets, sizing your bets and watching your opponents’ chip stacks. For example, a common strategy employed by the chip leader is to mimic the bets of the second place player.
Craps Tournament Rules
It is important to always read the rules of craps tournaments. The rules will always tell you if the tournament is a good value or a rip-off. The first thing to look at is whether the craps tournament gives you tournament chips to play with or if it requires you to use your own money.
The best craps tournaments give you tournament chips to wager with. Casinos that make you use your own money deprive you of two of the major craps benefits: limited risk and no house advantage. If you have to use your own money, the house advantage works against you and makes the tournament more expensive than it appears.
It is also good to know how the prizes are awarded and how much of your buyin goes towards the prize pool. Ideally, 100% of every buyin goes straight to the prize pool. These tournaments have zero house advantage. Some casinos keep a small percentage of each buyin as a fee.
Other craps tournament rules can change widely between casinos. You will find a lot of different rules regarding maximum bets, minimum bets, time limits, elimination rounds and so on. Make sure you always read the rules before you buy in to a craps tournament.
Where to Play Craps Tournaments
Craps tournaments can be found at both live and online casinos. The buyins at live casinos tend to be a bit higher than online because the casino has to devote valuable gaming space to the tournament and ensure a decent prize pool. Online casinos can get away with lower buyins because they cost nothing to operate and can attract a lot of players.