Partypoker today announced full details for the upcoming $10 million KO Series which will run for 8 days, between the 3rd and 10th June. The schedule consists exclusively of progressive knockout tournaments with five different buy-in levels; High Roller, High, Medium, Low and Micro. Tournament buy-ins will range from $0.55 in the Micro category up to $1,050 for the High Roller Championship Events.
In Progressive Knockout tournaments, everyone starts with a bounty on their head. When knocked out of the tournament, half of this bounty is awarded immediately to the winning player in the knockout hand and the other part is placed on the head of that same player (the player winning the bounty). This means that by the final stages of the tournament there are some huge bounties on the remaining players' heads.
The KO Series has four Championship events with a combined prize pool of $2 million.
partypoker Ambassador Patrick Leonard said: “After the success of the first KO Series and the feedback we got from the players it was certain partypoker were going to run it again. When we initially offered PKO tournaments I was generally against the format, I thought it took the ‘pureness’ out of tournament poker, but because of the insane popularity I was forced to play because the prizepools were so big! To my pleasant surprise I loved them, people played way looser and there was a lot of action. They feel very fun to play and a proper designated KO series is the logical thing to do. I'm really excited for it and knocking my friends out with some pretty hands instead of strong ones!”
All PKO tournaments are rake free on the bounty element, since partypoker’s Managing Director Tom Waters made the decision nearly 1 month ago.
“After reviewing feedback from the poker community and lobbying from Patrick Leonard, we removed rake on the bounty element on all our PKO MTTs which began just before POWERFEST. We will hold this policy for six months with the intention to make this a permanent reduction to our pricing structure. We have over 350 PKO MTTs per week with guarantees of over $4 million, so clearly, we will need players continued support to remain competitive revenue wise with other online poker sites.” Tom Waters commented.