Definition of last longer
The last longer is a side bet that you can make with your friends. Let's say you enter a live tournament with two of your friends. Between the two of you, you make a "last longer" bet for $100. Everyone puts in $100 and the winner gets $300. The "last longer" will be the player of the three who is in the tournament the longest. You don't have to have a paid seat to win, you just have to outperform your friends.
Side bets in live tournaments
This type of bet (the last longer) is one of the many bets you can make with your friends when you participate in casino tournaments. The idea of the last longer is good, but there are a variety of other bets you can make. For example, you could bet $100 each to be awarded to the player who wins the largest pot in the tournament. This type of betting is also done in friendly games. At the end of the night, the person who shows the strongest hand in the showdown deserves the prize pool that everyone else participated in, for example.