Cashout tournaments will have 2 pools
Players starting chips will depend on the buy-in. This will be used in calculating their Cashout percentage.
Players will have the option to take a partial cashout up to 50% of their chips in 10% increments only once during the tournament and/or they can opt for a full cashout as well.
No player is allowed more than one partial Cashout or they will be disqualified from the tournament and lose their right to the prize money and the Cashout money. The value of any disqualified players chips will go directly into the prize pool.
Players can only Cashout their chips when they are on the button, but must inform the dealer prior to the hand being dealt. In the event of a player cashing out, the dealer will give the player, either a partial Cashout button or a full Cashout button before the hand is dealt. The value of the partial cashout chips will be removed from the table prior to the hand being dealt.
When a player decides to take a partial Cashout, he will be given a receipt for the value of his chips from the Cashout Pool. The player can only receive the money when he has finished playing in the tournament.
In a re-entry tournament, players can only cashout after the rebuy period is completed. House rules will apply regarding deals.
When a player is in the money position and decides to opt for a full Cashout, the player will receive both the allocated prize money for that position and the value of his Cashout.
If 2 or more players are knocked out in the same hand on the final table, the player with the most chips will receive the higher position. If the hand involves the Cashout Pool, (eg 5th/6th position) the player with the highest position will precieve his percentage of the cashout pool.
Cashout ends when 5 players are left.
The remainder of the Cashout poool will be divided according to the position the player finishes.