The midnight madness no-limit holdem tournament at Full Tilt Poker is one of the most consistently high turn out tournaments in the online poker world. Every night, at twelve midnight eastern standard time, you can get in this tournament for only ten bucks plus the one buck administration fee (rake). But whats so good about it? A few things make this tournament a profitable venture including the time of day, the buy in, and the attrition rate.

The time of day is significant here because the majority of would-be participants should really be in bed sleeping and getting proper rest for work the next day. However, it is also private poker time for a lot of those same players and staying up late is just a small cost for some enjoyment and privacy. On the other hand they may be heading into this tournament with the expectation of doubling up quickly or getting out and going to bed. If they do double up then they can bear down and play solid, and hopefully make the money or substantially more. - first place in this tournament is usually over 2,000US.

At ten plus one dollar entry fee, most players at Full Tilt can afford this tournament, even some of the poorest players ever to click the all in button. And they do show up in droves here, again partially because of the time and the low buy-in and potential a potential bankroll explosion for the average low limit player. Full Tilt also encourages some if the resident professionals to participate as well, like Michael Craig, Lee Watkinson, Lynette Chan and others. That actually sells the tournament better because all amateurs want to sit beside a pro at least once.

The best part of this tournament for those who think at least somewhat strategically is the outrageous attrition rate of the participants. The paid entrants deplete so fast that after the first hour, if you survive, you will be among the remaining third of the players eagerly waiting to divide up the dead money left by high risk low blinds players. Several nights this week the tournament started with over 1,500 entrants and by the end of the first break was between 500 and 600.

With an attrition rate that quick, playing tight has more inherent value as a style of play and strategy because the eliminated players are simply building the prize pot for the remaining contenders. I mean that is how all poker tournaments work actually, but an expeditious exit rate certainly adds to your expected value in terms of deciding which tournament to play.