MTT
Multi-Table Tournament — a tournament with hundreds or thousands of players
Definition
An MTT (Multi-Table Tournament) is a tournament with multiple simultaneous tables. Players are eliminated progressively until only a final table remains, then down to the winner. MTTs can gather a few hundred to several tens of thousands of players. MTT strategy is radically different from Cash Game because chips can't be cashed out — their real value depends on ICM. Decisions must factor in: the tournament phase (early, middle, bubble, final table), the stack depth in big blinds, the payout structure, and opponent profiles. Early in the tournament, playing to accumulate chips is the priority. Near the bubble, ICM imposes very tight play to secure the paid spot. At the final table, ICM considerations are maximal and influence every all-in decision.
In a Sunday Million with 10,000 players, your strategy changes radically by phase: early (accumulation), bubble (ICM survival), final table (exploiting short stacks and managing ICM).
Frequently asked questions
How many players get paid in a tournament?
Usually around 15% of the field, but the distribution is heavily top-loaded: the first few places take most of the prize pool. That is why an MTT is not played to min-cash but to run deep — the minimum payout is usually around one and a half buy-ins.
How do you play the bubble in an MTT?
Pressure is asymmetric: big stacks attack because their tournament is not at risk, medium stacks must tighten up against all-ins because busting costs a lot of ICM value, and very short stacks no longer have enough fold equity to wait — they have to move before the blinds swallow them.