I am a member of a forum that has a 'money league'. A series of freerolls that have prizes of less than a buck usually. The only way to get on the invite list is to send the admin $5. But all of the $5s are put into a prize pool and split between the top 3 players in the league.l Seems that the forum started with a group of friends betting in this manner and has since grown slightly. They have true freerolls and buyin games from time to time as well, and you do not need to pay the $5 to get into anything but that particular league.
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