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Poker glossary

Guarantee

What it means

A guarantee is the minimum prize pool a poker room promises for a tournament or series. If player buy-ins do not reach that amount, the organizer must add money to cover the difference.

How it works at the table

If a tournament has a $1,000,000 guarantee and entries generate only $900,000 after fees are removed, the operator adds $100,000 to the prize pool. That extra money is called an overlay, and it creates value for players who entered.

Strategic context

Guarantees are both marketing tools and liquidity signals. Big guarantees attract players, which helps events fill and creates larger prizes. Online operators and live tours use them to show confidence in demand.

Common mistakes

Players sometimes confuse the guarantee with first-place money. A $1,000,000 guarantee means the total prize pool is at least $1,000,000, not that the winner receives that amount. Another mistake is ignoring rake and structure when chasing guaranteed events.

Guarantees connect to overlays, buy-in, satellite, and tournament ROI. When a guaranteed event overlays, it can create positive expected value for entrants.