Bringing It All Together: PKO Review

Throughout the past year, our writers have presented nine unique articles and videos outlining how and when to adjust from a Classic MTT to the Progressive Knockout (PKO) tournament format. Given the sheer amount of information in these articles, how much do you recall? In this article, we will review some of the key concepts that were presented throughout the PKO series and open fire on your base of knowledge with a battery of quizzes. Can you Ace it?

Note that you will be provided with links to the source material for each of these quiz questions, but to get the most out of this article, we would encourage you to attempt each question first before referring back to the solutions held within the original articles referenced.

General Concepts

Let’s open the action by considering some of the general concepts introduced in our premier article “The Theory of Progressive Knockout Tournaments.” In this piece, we reviewed the fundamental aspects where PKOs differ from Classic tournament formats, including chip values, bounty powers, and risk premiums. One of the key calculations already hinted at is Bounty Power (BP), which was used to translate the dollar value of a bounty to a chip value and vice versa.

The Theory of Progressive Knockout Tournaments

1)

In the BP calculation, what are the variables that X and Y represent?

Bounty Power = X / (Remaining Bounty Prize Pool + Y)

X is equal to the Total Chips in play, and Y is equal to the Remaining Regular Prize Pool.
X is equal to the Average Stack Size in chips, and Y is equal to the Remaining Regular Prize Pool.
X is equal to the Total Chips in play, and Y is equal to the Starting Regular Prize Pool.
X is equal to the Average Stack Size in chips, and Y is equal to the Starting Regular Prize Pool.

Reveal Answer

(A) Because we are looking to convert the current $value of a bounty into chips, we would use the total chips in play as the numerator (X). Then, divide it by the remaining value of bounties and the remaining regular prize pool (Y).

2)

We also looked at how to determine the amount of equity we require to call an all-in. What are the missing variables in the equation below?

Required equity to call = amount to call / (pot after calling + (X × Y))

Reveal Answer

In a PKO, we need to factor in the value of the bounty by adding it to the denominator. To do this, we take the capturable bounty (X) and multiply it by the bounty power (Y) from the equation featured in question 1. This increases the value of the denominator, thereby reducing the required equity to call.

Preflop

Opening the Action

In the article “How ICM Impacts PKO Strategy,“ we compared preflop play across several Classic and PKO ICM solutions and studied how the decrease in risk premiums in a PKO impacted our preflop ranges.

3)

Based on that article, which one of these statements is true?

At the start of a PKO tournament, opening ranges are the same as in a Classic tournament and remain the same in strong ICM spots.
At the start of a PKO tournament, opening ranges are wider than in a Classic tournament and stay wider in strong ICM spots.
At the start of a PKO tournament, opening ranges are wider than in a Classic tournament but grow closer to the Classic ranges in strong ICM spots.
At the start of a PKO tournament, opening ranges are the same as in a Classic tournament and grow wider in strong ICM spots.

Reveal Answer

(C) We saw that even though the availability of a bounty payout reduced the relative risk associated with playing a hand, it still didn’t completely offset ICM. Because there are still regular payouts to account for in a PKO, we are still risking ICM value in situations such as near the bubble or when a big pay jump is coming up.

Responding to Preflop Aggression

Besides the scenario of opening the action, we also reviewed how we respond to opens and 3-bets preflop. The series of articles below dealt with the how and why of adjusting preflop play in a PKO relative to Classic ICM:

PKO Versus Classic: Preflop RFI Range Comparisons

PKO Versus Classic: Responding to a Preflop Open

PKO Versus Classic: Responding to 3-bets

PKO Versus Classic: Preflop RFI Range Comparisons

PKO Versus Classic: Responding to a Preflop Open

PKO Versus Classic: Responding to 3-Bets

4)

Based on these articles, which of the following statements is true (if any)?

In a PKO tournament, when covering opponents, call more often and 3-bet more often.
In a PKO tournament, when covered by opponents, call more often and 3-bet less often.
In a PKO tournament, when covering opponents, call less often and 3-bet more often.
In a PKO tournament, when covered by opponents, call less often and 3-bet less often.

Reveal Answer

(None) We saw that in a PKO when bounties are available, the covering player prefers to see a flop with a wider range of hands. Additionally, we saw that covered players tend to prefer to 3-bet rather than call, as their 3-bets are getting called by a wider range. Based on this, we can say:

In a PKO tournament, when covering opponents, we call more often and 3-bet less often.
In a PKO tournament, when covered by opponents, we call less often and 3-bet more often.

5)

True or false? The covering player 4-bets more often and calls 3-bets less often in Classic ICM compared to PKO ICM.

Reveal Answer

(True) As we saw in the previous question, we prefer to play wider ranges postflop against covered opponents since we want to see more flops when there is a bounty available. This means calling more often instead of 4-betting when covering to keep in a wider range of hands from our opponent.

Postflop

General Postflop Strategy

In “PKO Versus Classic: Postflop Play,” we went through a street-by-street breakdown of how covered and covering players adjust their strategies in a PKO. Based on our observations in this article, we can say that:

How Do Bounties Impact Our Flop Ranges When Covering?

Spot: shortest stack (UTG = 96bb) vs second largest stack (HJ = 101bb)

☐ On flops, we check more often when covered, while covering players in position (e.g., HJ) raise more frequently and to larger sizes than in classic ICM.

☐ On turns, we see a much more aggressive turn-bet strategy for the shorter stack due to the expectation that the HJ would have raised more of their strong hands.

☐ On rivers, we see much more overbetting in a PKO for UTG due to the HJ having a wider turn-calling range.

☐ All of the above.

☐ None of the above.

Reveal Answer

All of these three statements proved true. To see why, please review our original article for an analysis of the action on each street.

☑ On flops, we check more often when covered, while covering players in position (e.g., HJ) raise more frequently and to larger sizes than in classic ICM.

☑ On turns, we see a much more aggressive turn-bet strategy for the shorter stack due to the expectation that the HJ would have raised more of their strong hands.

☑ On rivers, we see much more overbetting in a PKO for UTG due to the HJ having a wider turn-calling range.

Flop Strategy When Covering

Additionally, we delved deeper into flop strategy in a PKO in our article “How Do Bounties Impact Our Flop Strategy When Covering.” We saw three key changes in our PKO strategies versus classic ICM.

6)

Select what best applies in the three statements below:

Bet (bigger/equally/smaller) when covering an opponent in a PKO.
Raise (more/less) often when covered at lower SPRs.
Your opponent’s (range/c-bet sizing/risk premium) is a valuable indicator for adjusting your response exploitatively.

Reveal Answer

Bet bigger when covering in a PKO – We saw across solutions that in PKOs, the covering player always preferred to use larger sizes when c-betting. When bounties are available, we should be more interested in moving our opponent closer to all-in.
Raise less often when covered at lower SPRs – Because covering players in PKOs are incentivized to call wider vs raises, so we want to focus more on raising for value, considering we won’t get as many folds.
Consider your opponent’s c-bet sizing when choosing an action – If a covering player in a PKO uses a smaller bet sizing where you would expect to see large sizes with the stronger part of their range, such as the ranges we saw in the middle stack example, you can attack their weaker range. This is the upside of the previous point, as the value part of your raising range will get more calls, meaning they will get paid off more often.

ICM

Classic ICM Versus PKO ICM

In “How ICM Impacts PKO Strategy,” we made a number of observations regarding the impact of bounty power on preflop strategy.

7)

Which of the following statements are true in a PKO versus Classic ICM environment?

Payouts and bubbles will tighten your ranges; bounties will widen your ranges.
Ranges are wider in PKO ICM situations.
Fold equity is employed more often in non-PKO ICM situations.
A and B
A and C
B and C
All the above.

Reveal Answer

(G) All of the above. For additional information on each of these answers, refer to the “How ICM Impacts PKO Strategy” article.

ICM Versus Other Factors

Lastly, in “What Factors Impact Ranges the Most in PKOs,” we honed in on whether Risk Premiums (RP) were the sole factor that changed our preflop strategy in a PKO.

8)

Which of the following statements from that article proved to be true?

The RP gaps in a PKO impact preflop ranges in the same way regardless of positions.
The gap between RPs in a Classic versus PKO solution changes at the same rate as the change in stack sizes as long as positions, tournament phase, and bounty sizes remain the same.
There is a linear relationship between betting frequencies in PKO and Classic ICM solutions as stack sizes change as long as positions, tournament phase, and bounty sizes remain the same.
The covering player’s aggression increases in a PKO based on the value of the covered player’s bounty.

Reveal Answer

(D) This article tested each of these four hypotheses and concluded that only the bounty size had the effect we expected on our gameplay. To see how we came to these conclusions, please review the original article.

Additional Resources

Throughout the articles cited in this quiz, we saw a number of key adjustments that will unlock your PKO gameplay to the next level. By studying with GTO Wizard and understanding the fundamental differences when bounty payouts are introduced, you can find many opportunities to outsmart your opponents and increase your win rate in the future.

Now that you have completed this quiz and reviewed the theory laid out in the provided articles, here are ten drills to help you test your new knowledge and experience for yourself where PKO strategy differs from a tournament without bounties.

Drills

Note – All Drills use high RNG.

Author

JonnyLaw

John Lawford AKA “JonnyLaw” is a mid stakes online MTT regular with a passion for the Progressive Knockout format.

Wizards, you don’t want to miss out on ‘Daily Dose of GTO,’ it’s the most valuable freeroll of the year!

Sharpen Your Game With Our Most Customizable GTO Trainer Ever

We Are Hiring

We are looking for remarkable individuals to join us in our quest to build the next-generation poker training ecosystem. If you are passionate, dedicated, and driven to excel, we want to hear from you. Join us in redefining how poker is being studied.

Check out the available positions here.

GTO Wizard the #1 App for Poker players

Study any spot imaginable

Practice by playing vs. GTO

Analyze your hands with 1-click

START CRUSHING NOW

JOIN DISCORD