Playing in a blackjack tournament can be a fun way to mix up the grind of playing normal blackjack against the dealer. In a tournament, you are attempting to win more money than the other players. Typically, there are a few rounds of play in such a tournament with the people near the bottom being eliminated at the end of each round. Survival is a big part of blackjack tournaments.
Because you are playing against other players, you want to ensure that you are making properly sized bets. If you start out with $1,000 in chips, betting all $1,000 on the first hand might seem like a good idea as, if you win, you will take the lead early. This strategy might be good for someone with a large bankroll that is willing to play many tournaments, but this is not a good strategy for the short term. If you bet your entire bankroll on the first hand, you stand a good chance of losing during the first hand you are dealt.
The contrary approach is also problematic. If you are betting too little, your opponents who are betting more will pull away from you. Therefore, you need to find a happy medium. By betting in a manner consistent with the level of competition you are playing against, you stand the best chance of staying relevant and dangerous in the tournament.
Basic strategy should always be strictly followed in the beginning rounds of the tournament. This gives you the best chance of enduring the early cutoff marks. If you are still alive toward the end of the tourney, you may find it appropriate to split and double on hands that you typically would not. If these strategies appear and you stand the chance of passing a competitor in chip stack size, these usually frowned upon strategies might be profitable to you.