Can someone explain the bounty chip?

I usually go to the Borgata in AC and play regular cash games. But want to start getting more involved in tournaments. I looked at their schedule and every tournament involves a bounty chip. Like this one listed below..

Blue Chip Bounty Semi-Turbo No Limit Hold’em (Re-Entry)

Can someone explain to me how the bounty chip system works and why they have different color ones? One day its blue, the next its double green

Thanks

When you knock someone out you get there chip. At the end of tourney or when you get knocked out you cash in the bounty chips for money. Example 100+15+25bounty. 100 goes to prize pool,15 to house, 25 for bounty. You knock out 5 ppl you get 125. You play at Borgata a lot? I play there frequently

@Flatcaller, hmmm very interesting.
...So (correct me if I'm wrong) you start out the tournament with your own blue chip, and assuming you knock out 5 people like you say, then you will be holding 6 blue chips. After you get knocked out, you have to give up 1 bounty chip to the person who knocks you out, and you walk away with 5 blue/bounty chips?

And if you were to knock out 5 people, collect 5 bounty chips (totaling 6 from your own), and then win the tournament, you would keep your own bounty chip (I believe it is like this in online poker as well, im not sure though I've never won a bounty tourney), and thus get 1st place prize money as well as 6 bounties?

sam1chips said:

@Flatcaller, hmmm very interesting.
...So (correct me if I'm wrong) you start out the tournament with your own blue chip, and assuming you knock out 5 people like you say, then you will be holding 6 blue chips. After you get knocked out, you have to give up 1 bounty chip to the person who knocks you out, and you walk away with 5 blue/bounty chips?

And if you were to knock out 5 people, collect 5 bounty chips (totaling 6 from your own), and then win the tournament, you would keep your own bounty chip (I believe it is like this in online poker as well, im not sure though I've never won a bounty tourney), and thus get 1st place prize money as well as 6 bounties?

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Sounds about right.

flatcaller said:

When you knock someone out you get there chip. At the end of tourney or when you get knocked out you cash in the bounty chips for money. Example 100+15+25bounty. 100 goes to prize pool,15 to house, 25 for bounty. You knock out 5 ppl you get 125. You play at Borgata a lot? I play there frequently

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I would say once a month but I only play at Borgata. Want to start coming weekly and play a tournament per week. Only issue is tournaments do not count towards earning comp points to keep a black card

sam1chips said:

@Flatcaller, hmmm very interesting.
...So (correct me if I'm wrong) you start out the tournament with your own blue chip, and assuming you knock out 5 people like you say, then you will be holding 6 blue chips. After you get knocked out, you have to give up 1 bounty chip to the person who knocks you out, and you walk away with 5 blue/bounty chips?

And if you were to knock out 5 people, collect 5 bounty chips (totaling 6 from your own), and then win the tournament, you would keep your own bounty chip (I believe it is like this in online poker as well, im not sure though I've never won a bounty tourney), and thus get 1st place prize money as well as 6 bounties?

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Yeah, I play a lot of STT Bounty tournaments, and this is exactly how it works. The effect would obviously be a LOT less in MTTs, but in STTs the difference between 1st and 2nd is huge since if you win the tourney, it equals-out to a 2 Bounty swing. You keep your own, plus gain one when you knock out your last opponent while HU.

I was reading the rules of the tournament on this website and it said your bounty chip must ALWAYS be displayed and can not be in the stack with your chips or you can be disqualified.

jlabruno said:

I would say once a month but I only play at Borgata. Want to start coming weekly and play a tournament per week. Only issue is tournaments do not count towards earning comp points to keep a black card

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Yeah wish they comped more for tournies. Gotta play cash to keep the card, lame.

jlabruno said:

I was reading the rules of the tournament on this website and it said your bounty chip must ALWAYS be displayed and can not be in the stack with your chips or you can be disqualified.

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Yeah bounty chip is separate from normal chips.

now correct me if I am wrong. If someone has collected 4 bounty chips and you eliminate them you do not get all 4 correct? You only get one from them for eliminating them and they get to cash in the rest?

Also what about double bounty tournaments. what does the double mean?

jlabruno said:

now correct me if I am wrong. If someone has collected 4 bounty chips and you eliminate them you do not get all 4 correct? You only get one from them for eliminating them and they get to cash in the rest?

Also what about double bounty tournaments. what does the double mean?

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This is correct. Otherwise there'd be no point in the bounty system, it'd become a winner-take-all event with only the eventual winner collecting all the bounty chips. Don't know what a double bounty tournament is; never heard of it before.

Bounty chips are a great idea.. Gets some good action, anyone going all-in gets a 2nd look just to get their bounty.. fun stuff.. play a lot of bounty tourneys here in Portland

oacnaf said:

Bounty chips are a great idea.. Gets some good action, anyone going all-in gets a 2nd look just to get their bounty.. fun stuff.. play a lot of bounty tourneys here in Portland

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+1. Def like the bounty idea. Generates a lot more action in tournies as you have to balance aggression to collect bounties while still keeping an eye toward getting ITM.

What do you think about having 2 bounty chips.. one that is used like a regular bounty chip (to be cashed out at the end), and another that is collected and bet in a side pot (how this would work needs some discussion) and can be cashed out in addition to the original bounty chips at the end. So each bounty is set at $20, split that into two $10 bounty chips, one that you cannot bet with and only changes hands when a player is knocked out, and another that you can bet with against other players with bounty chips.. its like having every tournament hand have the possibility to simultaneously get cash game like money.. Someone mentioned double bounty earlier.. is this what that is? If it is I really hope the rules are a little more refined then my idea haha