A bet placed on the winner of a tournament, often referred to as a "outright winner" bet, involves wagering on which competitor or team will emerge as the champion at the end of the event. This type of bet is popular in various sports and competitions, allowing bettors to predict the overall victor before the tournament begins. The odds for each participant are determined by various factors, including past performance, skill level, and current form, with potentially higher returns for betting on outsiders compared to favorites.