Double or nothing
Encyclopedia
Double or nothing in a betting situation is where the loser of a bet gets another chance at the bet. When a "double or nothing" bet is requested by the loser, if the winner accepts, then they play again. If the loser of the initial bet loses again, then the winner gets double the original bet. But if the loser of the initial bet wins, then he owes nothing. For example, if you owe someone $20 from a bet and you place a "double or nothing" bet with them and lose again, then you owe them $40; but if you win, then you owe them nothing. After the second bet, either the loser owes the winner DOUBLE the original bet OR NOTHING, hence the phrase. This is the dictionary definition of this phrase.
There is a variant to the above where the loser of the second bet pays the winner double the original bet regardless of who won the first bet. However, this is a less common usage of this phrase.
, a double or nothing tournament
is an online
sit'n'go tournament where the surviving half of players gets double the buy-in and the eliminated half does not receive any prizes. Double or nothing tournaments are mostly played by ten players (five players win) or six players (three win), although multi-table versions, such as for 20 players, exist. The rake
in these tournaments is usually smaller than in standard sit'n'go tournaments. Some poker rooms also offer triple or nothing tournaments, where one third of the playing field gets paid.
In a regular poker sit’n’go it is correct to play with the intention of accumulating 100% of the chips in the game, thereby placing 1st and securing for yourself the maximum possible prize money. In a double or nothing poker sit’n’go it is now no longer relevant if you finish the game with 100% of the chips or only 1% of the chips, as long as you are still in the game once 50% of the players have been eliminated. Because of this difference in prize structure, a double or nothing poker sit’n’go requires significantly different poker strategy than a regular poker sit'n'go.
There is a variant to the above where the loser of the second bet pays the winner double the original bet regardless of who won the first bet. However, this is a less common usage of this phrase.
Poker
In pokerPoker
Poker is a family of card games that share betting rules and usually hand rankings. Poker games differ in how the cards are dealt, how hands may be formed, whether the high or low hand wins the pot in a showdown , limits on bet sizes, and how many rounds of betting are allowed.In most modern poker...
, a double or nothing tournament
Poker tournament
A poker tournament is a tournament where players compete by playing poker. It can feature as few as two players playing on a single table , and as many as tens of thousands of players playing on thousands of tables...
is an online
Online poker
Online poker is the game of poker played over the Internet. It has been partly responsible for a dramatic increase in the number of poker players worldwide...
sit'n'go tournament where the surviving half of players gets double the buy-in and the eliminated half does not receive any prizes. Double or nothing tournaments are mostly played by ten players (five players win) or six players (three win), although multi-table versions, such as for 20 players, exist. The rake
Rake (poker)
Rake is the scaled commission fee taken by a cardroom operating a poker game. It is generally 5 to 10 percent of the pot in each poker hand, up to a predetermined maximum amount. There are also other non-percentage ways for a casino to take the rake. Some cardrooms will not take a percentage rake...
in these tournaments is usually smaller than in standard sit'n'go tournaments. Some poker rooms also offer triple or nothing tournaments, where one third of the playing field gets paid.
In a regular poker sit’n’go it is correct to play with the intention of accumulating 100% of the chips in the game, thereby placing 1st and securing for yourself the maximum possible prize money. In a double or nothing poker sit’n’go it is now no longer relevant if you finish the game with 100% of the chips or only 1% of the chips, as long as you are still in the game once 50% of the players have been eliminated. Because of this difference in prize structure, a double or nothing poker sit’n’go requires significantly different poker strategy than a regular poker sit'n'go.