Hand Based tournaments have a preset number of hands. The winners are determined by the chip counts once the preset numbers of hands have been dealt. The player with the most chips after the preset number of hands has been dealt - wins. For instance, if the top 10 people are paid in a 100 person, 1000 hand tournament, the winner of the tournament will be the player with the most chips once the 1000th hand has been dealt. The remaining 9 spots will be paid based on chip counts from highest to lowest. Hand Based tournaments range in number of hands and prize distribution.
Details for the tournament can be found in the "Tournament Lobby" before play begins.