Bust Out
To bust out is to lose all your chips and be eliminated from a tournament.
The simple explanation
To bust out is to lose all your chips and be eliminated from a tournament. The place you finish in is decided by the order in which players bust out, and a player who busts out in the money receives a prize.
A closer look
Bust-out stories are a staple of poker conversation, like bad beat stories. In events with re-entry, a player who busts may buy in again, so an elimination is not always the end of a run. At the end of a tournament the last player to bust out before the winner is the runner-up. The place at which you bust out decides your prize, which makes it important.
A practical example
A player loses an all-in hand and busts out in 20th place.
Full explanation
To bust out is to lose all your chips and be eliminated from a tournament.
To bust out means to lose all your chips in a tournament and be eliminated. The word is also used as a noun: a bust-out.
The finishing order is the reverse of the order in which players bust. The last player left is the winner.
Some tournaments allow re-entry, in which case a player who busts out may buy in again for another starting stack.
A player who busts out in a paying place receives the prize for that place.