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If you're a poker player...a poker player at ANY level...then you usually have a preference for what kind of poker you prefer to play: tournaments or cash games. Even if you play once a year with the relatives at Christmas time in the basement, you still have to decide whether you want to crown a champion or see who can win the most money. And for many of the best in the world, their choice of venue defines them as a player.

Phil Hellmuth is, arguably, the best no limit hold 'em tournament player in the world. Hellmuth and his eleven WSOP bracelets are a force to be reckoned with on the tournament circuits. Conversely, Phil has a fairly well deserved reputation for being just an average at best cash game player, and many pros rub their hands in glee when they see Hellmuth sit down at a table with a big stack of cash.

On the other side of the felt you find pros like David Benyamine, Tom Dwan, and Ilhari Salhamies. They have had some modest success in the big tournaments, but that success pales in comparison to the way they roll over cash games at the highest level, playing $1000/$2000 limit poker and higher.

In fact, some of the best cash game players steer clear of tournaments because they can make more money in side games. And how do they decide? It really depends on what's important to you as a player. With many players, it's all about the income. They measure success by the amount of money they have in their online accounts or in their safety deposit boxes in the Bellagio. With players like Hellmuth, it's a different measuring stick. He once told me: "It's all about the skins on the wall. At the end of the day, that's how you're measured: by how many bracelets you have".

So what ARE the differences between the two? Aside, of course, from the obvious, the biggest differences are psychological. Playing cash game poker is more akin to a battle: it's a series of skirmishes, and at anytime you can choose to withdraw and lick your wounds (or savour your spoils). You can put all your money in the middle, but even a less than favorable outcome doesn't put you out of the game. As long as there is something in your pocket other than lint, you can rebuy and jump back into the fray.

Tournament poker, on the other hand, is more like a war. It's an extended series of battles, but the bottom line is always survival. When your chips are gone and you reach the felt, you are done. There is no tomorrow. And because of that, you have to approach the tournament game much more strategically than cash games. Cash games are often an exercise in poker math: calculate your odds, and if the math demands it, make the play. Over the long haul, luck will be eliminated and you should be profitable. But tournament poker is a different animal. Making the statistically correct decision can still lead to your immediate and often painful demise.

Part of being successful in poker is figuring out which arena suits you better. Some players are equally adept at both. But, especially if you're just embarking on your poker journey, you can often find more success by concentrating on one area specifically, be it cash or tournaments. Later, it is equally important to diversify, since it will improve your overall play.

In the meantime, the question you have to ask yourself is a simple one: do I want the trophy, or the dollars? Fame or fortune? Perhaps, with a little luck, and a lot of practice, you can get a piece of both.