As stated before, there are four rounds of play, three semifinals and a final round. Let’s go over each round and show how it is structured.
All the players eligible for the playoff are entered in this round. Prior to play, each player is given $3,000 as a bonus payment to keep. This money is not at risk during the playoffs.
In addition, each player is given an equal number of no redeemable chips. These chips have no cash value and are to be used during the first round of play only.
They are bet during the first fifty hands of basic Let It Ride®. At the end of the fifty hands, the fifty players with the most chips are eligible to go to the next round.
The field has now been winnowed to fifty players. Each player is again given $3,000 to keep, and a new set of no redeemable chips. The chips from the previous round have been given back and are no longer in play.
So, at this point, the fifty players have an equal number of chips. Again, fifty hands are played. The top twenty-five players at the end of these fifty hands are eligible for round three.
Prior to round three, each of the twenty-five remaining players is given $3;000 to keep. By this time, they’ve each accumulated $9,000. They are also each given an equal number of non-redeemable chips to play with. Fifty hands are once more played. At the end of this round, the top five players are eligible for the fourth and final round.