Dogbas
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A good option is to run the tournament using the "Swiss system".
Pros:
1. Maintains suspense - the winner is unknown until the last round, and there may be many contenders.
2. Players of approximately equal strength meet in the games.
3. It is possible to withdraw from the tournament without any negative consequences, and even to join the tournament after it has started.
4. The rating takes into account the difference between a real victory and a victory due to the opponent's absence.
Cons:
1. The judge has a lot of responsibility when drawing the games.
2. There is more luck involved in the later rounds.
Pros:
1. Maintains suspense - the winner is unknown until the last round, and there may be many contenders.
2. Players of approximately equal strength meet in the games.
3. It is possible to withdraw from the tournament without any negative consequences, and even to join the tournament after it has started.
4. The rating takes into account the difference between a real victory and a victory due to the opponent's absence.
Cons:
1. The judge has a lot of responsibility when drawing the games.
2. There is more luck involved in the later rounds.