To answer a few questions…
It was at an online card room - you’d never find a $5 buy in tournament in real life (as far as I know) because of their running costs with the dealers, etc.
Online, you can enter a lot of low limit ($10, $5, $3, even $1) tournaments with hundreds of players.
I like it - tournaments are fun, if I lose, I’m out $5, and I have a chance to make decent money if it does pay off.
Anyway, I was playing on ultimatebet.com. I’ve played play money on almost all the major online sites - partypoker.com, pokerstars.com, truepoker.com, pacificpoker.com, and real money on paradisepoker.com and ultimatebet.com.
Of course, ultimatebet seems to have the best mix of stuff I want. Paradise has the best software, but they don’t run any multitable tournaments and I love those. UB has it all, and pretty good software.
Anyway, the tournament I was in was actually a limit hold em tournament - I enjoy NL more but I seem to do better at limit tournaments. I’ll still play both. It was actually my first big limit tournament - so I did pretty well.
Regarding Phil Hellmuth, actually, he’s a part owner of ultimatebet.com or he was involved in the development or something. He, as well as a few other big name professionals play there frequently. I’ve watched Phil play omaha 8 80/160 quite a bit… seen him make $3500 in like 45 minutes before.
I actually haven’t read anything yet - I’ve been meaning to, but I haven’t had the money for books and someone else ran up quite a charge on my library card. I have, though, been reading a lot of stuff on the internet, talking to good players, read rec.games.poker, and possibly most important just sat around and watched good players play. I’m treating it like an educational experience and I’ve gained quite a bit of skill in the short time I’ve played on my own.
Anyway, if anyone is interested in low limit stuff, I’d fully recommend ultimatebet.com. The poker sites are legit - they take a small percentage of the pot like a regular casino (although generally half their rate or lower) and have no interest in who wins, so it’s in their best interest to set up a fair game, sit back, and rack in the cash. A few have been around for years now and have quite a reputation.