A poker tournament is a competitive event where players compete against each other in a series of poker games. Participants buy in with a set amount of money, which contributes to a prize pool. Players are eliminated as they lose all their chips, and the tournament continues until one player remains, claiming the entire pot. Tournaments can vary in format, including Texas Hold'em and Omaha, and may have different structures, such as freezeouts or rebuy events. Players often compete for both cash prizes and trophies, making these tournaments popular in both casual and professional settings.