That's what the "1st" column is: the number of times the player has ranked (or busted out in) first place.
This is just for stats calculations, so there aren't any tokens or the like. I actually implemented this yesterday, so there will be a "Last" column on the Stats tab.
... But it didn't show a 1 next to the last place player. This was after the tourny ran. Do I need to do something else to make it work?