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A cash game, otherwise known as a "ring game" is a form of Poker with no fixed start or end time. Cash games are rather permanent tables where players can come as go as they please. These games have a buy-in minimum (and maximum at no limits): the player must bring at least this much money to the table.

In cash games (cash poker) you buy in using an amount of money depending on the minimum and maximum buy-in at the table. You get chips equal to your buy in. For instance you buy in for 500$, you get 500$ worth of chips while you can also choose to buy in for more money or less money. The amount of chips on the table equals the amount of money you are playing with.

A tournament is a structured competition with a fixed starting point and completion when only one person remains. The tournaments have an entrance fee. Once paid that entitles the person to take part in the tournament. As soon as their chips are depleted they are out of the tournament

In tournament poker you "Buy-In" (pay to participate in the tournament) for a set amount of money. In a tournament every player pays the same amount of money to participate. For your buy-in you receive a set amount of chips depending on the tournament. Every player who buys into the tournament gets the same amount of chips.

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