SIT AND GO POKER
Sit and Goes are typically called SnG's when you see it written on poker forums. The name Sit and Go refers to the concept of the game. Once enough players have joined a SnG its starts. A Sit and go is typically for two, six, ten or twenty players.
A Sit and Go does not start a specific time a day like a multi table tournament. It starts when all seats are full and it is played till there is one player with all the chips. The prizes depends on the amount of players who enter.
If there is two players there is only one winner. If there are six players there are prizes for top two. If there are ten players there are prizes for top three or top four.
Double or Nothing
In 2009 Double or Nothing (DoN) Sit and Goes was introduced on several poker sites. The concept is that you double your money or get nothing. The tournaments are typically played as ten seated Sit and Goes where five players double their entry and five players obviously lose their stake.
The DoN got a lot of attention when a group of Chinese players managed to collude and win $750,000 on PokerStars.1 PokerStars later responded to the fraud case and paid $2,100,000 back to players and closed 38 accounts.
The fraud was noticed by active members of the 2+2 forum who reported it to PokerStars in February 2010.2
1 Coinflip.com 8 July, 2010
2 PokerNewsDaily.com 20 August, 2010