Freezeout poker tournaments are the most conventional style of poker tournament and remain the most popular style.
A straight freezeout tournament is one where you pay your buy-in, for example $50 + $5, the $5 is a fee that the online poker rooms charge every player for taking part in the tournament. Every player’s $50 entry gets put into the prize pool. You start with anywhere between 1000 and 2000 chips normally and have between 12-15 minute blind level increases.
Once the tournaments starts that is it once you are eliminated you are gone for good. The tournament is played until there is only one player remaining with all of the other players chips. If it is a small tournament then this player will usually share the prize pool with a few players, but on larger multi table tournaments there can be hundreds of players who get a slice of the prize pool.