Double or nothing

For other uses, see Double or Nothing (disambiguation).

Double or nothing (UK often Double or quits) in a betting situation is where the loser of a bet gets another chance at the bet. When a "double or nothing" bet is requested by the loser, if the winner accepts, then they play again. If the loser of the initial bet loses again, then the winner gets double the original bet. But if the loser of the initial bet wins, then he owes nothing. For example, if you owe someone $20 from a bet and you place a "double or nothing" bet with them and lose again, then you owe them $40; but if you win, then you owe them nothing. After the second bet, either the loser owes the winner DOUBLE the original bet OR NOTHING, hence the phrase. This is the dictionary definition of this phrase.

Poker

In poker, a double or nothing tournament is an online sit'n'go tournament where the surviving half of players gets double the buy-in and the eliminated half does not receive any prizes. Double or nothing tournaments are mostly played by ten players (five players win) or six players (three win), although multi-table versions, such as for 20 players, exist. The rake in these tournaments is usually smaller than in standard sit'n'go tournaments. Some poker rooms also offer triple or nothing tournaments, where one third of the playing field gets paid.

In a regular poker sit’n’go it is correct to play with the intention of accumulating 100% of the chips in the game, thereby placing 1st and securing for yourself the maximum possible prize money. In a double or nothing poker sit’n’go it is now no longer relevant if you finish the game with 100% of the chips or only 1% of the chips, as long as you are still in the game once 50% of the players have been eliminated. Because of this difference in prize structure, a double or nothing poker sit’n’go requires significantly different poker strategy than a regular poker sit'n'go.

See also

• Martingale (betting system)