Freeroll

tournaments

A tournament with no entry fee but real prizes.

Two meanings: (1) a tournament with no buy-in, (2) being on a draw that can only win (e.g. you have nut flush and opponent is drawing dead) — you 'freeroll' to a bigger payout.

See also

Double Up
Winning an all-in to double your chip stack.
ICM
Converts tournament chip stacks to real-dollar equity.
MTT
A tournament played across many tables, players consolidating until one is left.
Short Stack
Having significantly fewer chips than the table average.