In the money (or in-the-money, abbreviated ITM) is a tournament milestone where a player finishes in a position that receives a payout. When a tournament begins, the organizer determines how many positions will be paid. If a tournament has 100 players and pays the top 10 finishers, then finishing eleventh is out of the money (no payout) while finishing tenth is in the money. The exact prize amounts vary based on the tournament’s payout structure.
Reaching in the money is often used as a success marker in tournaments, especially for recreational players. Getting in the money means your buy-in investment is at least returned or exceeded. A professional player views in the money as a baseline expectation rather than a success, because the goal is to win the tournament or finish high for a large payout. For recreational players, simply cashing (another term for getting in the money) validates the experience and creates a profit or break-even result.
The point at which players transition from out of the money to in the money is called the money bubble or cash bubble. When multiple players are eliminated in quick succession and the remaining players all get paid, players are said to be in the money. The emotional intensity of bubble play (when players are close to the money) is significant because players might switch from ambitious play to conservative play when the money is within reach.
How Does In The Money Work?
Tournament organizers determine the number of paying positions based on field size and desired payout structure. A typical tournament might pay 10 percent of the field (if 100 players enter, top 10 finish in the money). Some tournaments are top-heavy, paying very few positions but with large prize differentials. Others are relatively flat, paying many positions with smaller differences between each position.
The payout amount for each in-the-money position is determined by the payout structure and the total prize pool. If the prize pool is 10,000 dollars and 10 positions are paid, the shares might be weighted heavily toward first place (3,000 dollars for first place, 2,000 dollars for second, and so forth) or relatively flat (900 dollars for first through tenth with equal distribution). The structure affects strategy because large jumps between positions incentivize aggressive play for high finishes.
Players who finish in the money receive their payout after the tournament concludes. Payouts are paid in cash or via the same account the player used to register. In online tournaments, payouts are typically credited immediately upon bust-out from the tournament. In live tournaments, payouts might require a form to be filled out and verification of identity.
The bubble of a tournament refers to the moment when the next elimination would put the eliminated player in the money. Bubble play is intense because players are incentivized to make final pushes for the money or risk elimination without payout. Some players tighten significantly when near the bubble while others loosen and try to accumulate chips.
Key Takeaway
In the money means finishing in a paying position of a tournament and receiving a payout. The cash bubble is the critical point where eliminations turn into payouts.
