Most players are just not aware of different types of casino tournaments. It is important that you are aware of the wide variation of tournaments that are available. The tournaments offer prize on different basis as some offer prize on the amount of money a player wagers at these tournaments where as others give prize on the basis of the winning amount. The first type of the tournament is not considered as online casino tournament as this is not based on the skills that a player has to make use of for winning. These types are generally termed as tournaments that are promotional and are given to attract more number of players to place their wagers. Here in such promotional tournaments most players also expect that they would win just because they are placing a very high wager. Such tournaments actually pay players for placing high bets on any tournament events. When playing such tournaments, players have to keep in mind that they are given away the prize amount from their earnings itself. But when playing for the second type of tournament, it is not important how much money you play for, but you are declared as winner only on the basis of the skills you make use of. When playing for this tournament, you may only have invested $1 and you shall be paid around $1000 or more as winning prize.