Okay, it isn't exactly called the Chris Ferguson Freeroll Challenge, but it might as well have been. Chris "Jesus" Ferguson is a well known poker pro, and part of the brains behind the design of Full Tilt Poker.
His brains are evident in his marketing behavior, too, as he set out to build a bankroll of $10,000 from zero dollars on the Full Tilt site, and the only way he could hope to accomplish this was via freerolls-at least, at first. Still, this challenge is a great bit of evidence to the "play freerolls as often as possible" argument.
The idea was for Chris Ferguson to get to ten grand from nothing, and the only way he could do that is if he could win enough money from freerolls to start playing in bigger games. A freeroll is a great way to put a few bucks into your bankroll for no risk, and that is exactly what he set out to do.
Long story short, he accomplished his goal, and his story is well laid out on the Full Tilt site-in fact there is a poll going on whether he should stop now, keep the challenge going to $100,000, or keep the challenge going to $1,000,000.
Chris lists a number of rules that he followed in order to accomplish his goal, rules that outline what he should do in certain situations and how to manage his bankroll-once it had some money it in, that is-to keep from losing ground. One rule that isn't there, but should be, is "Treat Freerolls as if they aren't."
When you plunk down $50 in a casino to play in a sit and go, you are likely going to be trying your best to win, or at least cash. That is $50 of real money there, and most people don't just throw it away. So you play your best. You should act as if your freeroll cost you $50 or more; play your best, treat it seriously, and you will add dollars to your account for no risk, and be on your way to beating the Ferguson Challenge.
(Editor's Note: The vote is now close to 60% for Chris to go to $1 million. Head to Full Tilt, cast your vote, sign up for a freeroll, and join the Challenge!)