Bonsour Micheal,
A slot tournment basicly, is where more than 1 player playes a slot machine. To see who gets the higest number of credits. On a slot machine in a given amount of time. Everybody plays the same type of slot machine. There is usually 1 to 3 timed sessions. And the total of credits from each session is added together. To determine the top winner, next winner, than the next, etc.
No money is won directly from the slot machine you are playing. You are playing ONLY for credits. There is some type of draw system. To see who gets which slot machine.
There is a pay/prize schedule of some type. With the person with highest number of credits. Winning top money/prize on the schedule. And on down the line, till all the pay/prize schedule money has been awarded.
There is usually some kind of entry fee. It could be anything from just being a member of a slot club. And showing your slot club card. To some serious money for a entry fee. The amount of the entry fee largely depends on. The amount of the pay schedule/prize.
If you would like to play in a tournment. Check out your local casino for 1. Also, there is the silverstriker slot tournment next January. In Las Vegas at the Vegas Club Casino downtown. Go to www.silverstrikers.com for more information on it. Check it out and go play. You will enjoy yourself, and meet a lot of fine people.
Hope this helps,
Danny