Has anyone tried this yet? Messed around a little bit with it tonight. UB has S&G and multitable blackjack tourneys for $1+.10 and $5+.50. Seven players per table, top two get paid in the STTs, two players for every table in the MTTs. You play against other players, not against the house -- so it's +EV if you learn a good strategy. It's fun and a nice break from the poker grind.
The object, I think, is to develop a good betting strategy based on the amount the opponents bet. I've found a Web site that offers some basic BJ tourney strategies:
http://www.blackjackinfo.com/blackjack-tournaments.php
Check it out. Go to Multiplayer Blackjack, then to the tourneys. Lemme know what you think. Warning: It is fairly addicting.
Oh, Annie Duke was in one of the $5 tourneys I played. She said she's been fooling around with them for a couple of days and that she wants to learn to play BJ tourneys at UB before trying her hand at a few big-money tournies in Vegas.