Here is another bit of information from
www.pokertips.org/glossary/w/RING+GAME
Ring Game
Poker Glossary
Also known as Cash Game.
A ring game is a non-tournament poker game. This is the typical type of poker game where players buy-in and cash-out whenever they wish. The chips used at the table represent money. Thus, if a player buys in for $10 worth of chips and cashes out $50 worth of chips, he or she makes a profit of $40. In contrast, a tournament game rewards players based on their final rank in the tournament. For example, if 10 people buy in for $10, then there will be $100 in the prize pool. Players would then receive a set amount of chips. These chips can not be cashed out for money; they are used solely for play in the tournament. Play would continue until one person possesed all of the chips. A typical tournament would then award $50 to first place (person who possessed all of the chips a the end of the tournament), $30 to second place (person who was eliminated last), and $20 to third place (person eliminated just before second place finisher), with fourth and lower receiving nothing. 
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