What is a PKO (Progressive Knockout) tournament?

A Progressive Knockout (PKO) tournament is a poker format where half of each player's buy-in goes into their bounty. When you eliminate someone, you win half their bounty immediately, and the other half adds to your own bounty. This creates a compounding bounty effect as the tournament progresses.

How do bounties affect calling ranges in PKO tournaments?

Bounties add extra value to eliminating opponents, which means you can call all-ins profitably with weaker hands than in regular tournaments. The larger your opponent's bounty relative to the pot, the wider you can call. When bounty value equals pot odds, you can call with almost any two cards.

What is bounty equity in PKO tournaments?

Bounty equity is the expected value you gain from potentially winning an opponent's bounty. It's calculated as: Bounty Equity = (Immediate Bounty × Win Probability) + (Half Bounty Added to Your Stack × Win Probability). This equity should be added to your pot equity when deciding whether to call.

How much wider can I call in PKO tournaments?

The adjustment depends on the bounty-to-pot ratio. As a general rule: if the bounty is 10% of the pot, call about 3-5% wider; if 25% of pot, call 8-12% wider; if 50% of pot, call 15-20% wider; if 100% of pot or more, you can call with almost any hand that covers the opponent.

PKO Bounty Calculator

Progressive Knockout (PKO) tournaments have revolutionized online poker by adding an extra layer of strategy through bounty mechanics. Unlike regular tournaments where all value comes from finishing positions, PKO tournaments distribute half of each buy-in as bounty prizes. This calculator helps you understand the true value at stake in any PKO situation and determine optimal calling adjustments.

According to PokerNews research on PKO strategy, bounty tournaments now account for over 40% of all online tournament traffic, making PKO understanding essential for modern tournament players. The bounty adds significant equity to calling decisions, often allowing profitable calls with hands that would be clear folds in regular tournaments.

PKO Bounty Equity Calculator

Quick Scenarios:

Tournament Situation

Your Stack chips

Opponent Stack chips

Pot Size chips

Amount to Call chips

Bounty Information

Opponent's Bounty $

Your Bounty $

Starting Bounty $

Your Hand Equity %

Total Value at Stake

$0.00

Pot Equity

$0.00

0% of total

Immediate Bounty (50%)

$0.00

0% of total

Added to Your Bounty (50%)

$0.00

Added to your head

Bounty-to-Pot Ratio

Normal

Value Distribution

Pot Value Bounty Value

Pot

Immediate

Added

Bounty Impact Level Moderate

Low Moderate High Extreme

Calling Range Adjustment

Standard Pot Odds

Equity needed (no bounty)

Bounty-Adjusted Requirement

0% reduction

Decision Analysis

Enter your situation above to see analysis.

PKO-Specific Strategy Tips

Big bounties create significant calling incentive
Covering your opponent is crucial - no bounty if you lose
Consider your own bounty when deciding aggression level

Understanding PKO Tournament Mechanics

Progressive Knockout tournaments use a unique prize pool distribution: typically half of each buy-in goes to the regular prize pool (paid to finishers) and half goes into bounty prizes. When you knock out an opponent, you immediately receive 50% of their bounty, while the other 50% is added to your own bounty - making your head more valuable to others.

This compounding effect means bounties grow throughout the tournament. According to analysis from HighStakesDB's PKO strategy guide, by the final table, top bounties can exceed the first-place prize in many PKO events. Understanding how to value these bounties is essential for making correct decisions.

The Bounty Equity Formula

When calculating whether to call an all-in in PKO tournaments, you must add bounty equity to your regular pot equity. The formula is:

Bounty Equity Calculation

Total Equity = Pot Equity + Bounty Equity

Where Bounty Equity = (Win Probability × Immediate Bounty Won) + Future Value of Added Bounty

The "future value" of added bounty is typically estimated at 50-75% of face value, since you must survive to cash it out.

How Bounty-to-Pot Ratio Affects Strategy

The key metric in PKO decisions is the bounty-to-pot ratio. This determines how much wider you can call compared to standard tournament strategy. Research published by CardsChat's strategy section suggests the following adjustments:

0-10% ratio: Minimal adjustment - call slightly wider (2-4% more hands)
10-25% ratio: Moderate adjustment - call 5-10% more hands
25-50% ratio: Significant adjustment - call 10-18% more hands
50-100% ratio: Major adjustment - call 15-25% more hands
100%+ ratio: Extreme adjustment - call with almost anything that covers opponent

Critical PKO Concepts

The Coverage Rule

You only win a bounty if you cover your opponent (have more chips). If you have 10,000 chips and your opponent has 15,000, you cannot win their bounty - they can only win yours. This asymmetry is fundamental to PKO strategy: covering opponents gives you significant equity they don't have against you.

Your Own Bounty Matters

The larger your bounty grows, the more valuable your head becomes to other players. This creates a targeting effect: players with big bounties get called lighter. When you've accumulated a large bounty, tighten your open-raising ranges slightly, as opponents have extra incentive to play back at you.

ICM Still Applies (But Modified)

Traditional ICM (Independent Chip Model) calculations still apply to the portion of the prize pool that isn't bounties. Near the bubble and at pay jumps, you still need to consider tournament equity - but the bounty component allows for more aggressive play than in regular tournaments. Use our M-Ratio Calculator to understand when you're in push/fold territory.

Common PKO Mistakes

Even experienced tournament players often misapply PKO strategy. Here are the most common errors:

Bounty hunting too aggressively: Calling off your entire stack for a small bounty is often -EV. The bounty adds value, but doesn't justify terrible calls.
Ignoring bounty when it's significant: Conversely, folding when bounty equity makes a call clearly profitable is leaving money on the table.
Not adjusting to your own bounty size: When you have a big bounty, opponents will call you wider - factor this into your 3-betting and continuation betting ranges.
Forgetting coverage rules: Shoving into someone who doesn't cover you gets no bounty benefit - they're essentially playing a regular tournament hand against you.

Advanced PKO Strategy

Targeting Short Stacks

Short stacks in PKO tournaments are especially attractive targets because they often have accumulated bounties from earlier eliminations but now lack chips to defend. The ideal target is a short stack with a large bounty - calling their all-ins is often profitable with a very wide range.

Multi-Way Bounty Spots

When multiple players are all-in and you cover them all, you could potentially win multiple bounties. This dramatically increases your equity and allows for extremely wide calls - though you must consider all opponents' ranges collectively.

Adjusting Opening Ranges

PKO tournaments favor aggressive play more than regular tournaments. With bounty equity as additional incentive to play pots, you can open wider from all positions. However, be aware that opponents also have bounty incentive to call you - factor this into your position-based strategy.

Frequently Asked Questions

What percentage of prize pool goes to bounties?

Standard PKO tournaments allocate 50% to bounties and 50% to regular payouts. Some variants use different splits (like 30/70 or Super Knockout with larger bounty portions). Mystery Bounty tournaments, a popular variation, have random bounty values revealed upon elimination.

Should I play PKOs if I'm a recreational player?

PKO tournaments are actually excellent for recreational players because the bounty payments provide consistent small wins that feel rewarding even without deep runs. The format also tends to create more action, making games more exciting. Just ensure you understand the bounty equity concepts to avoid costly mistakes.

How do bounties affect bubble play?

Bounties significantly reduce bubble factor in PKO tournaments. While you should still tighten slightly at the bubble, the bounty equity means you can call wider than in regular tournaments. Big stacks can especially exploit bounty hunting near the bubble.

Related Tools and Guides

Maximize your PKO tournament success with these complementary resources:

ICM Calculator - Understand tournament equity for the non-bounty portion
Nash Push/Fold Calculator - Optimal short-stack ranges (adjust for bounty)
M-Ratio Calculator - Know when to switch to push/fold mode
Pot Odds Calculator - Calculate base pot odds before bounty adjustment
Tournament Strategy Guide - Comprehensive MTT fundamentals
Hand Rankings - Quick reference for hand strength

For more detailed PKO theory, the Two Plus Two poker theory forum hosts extensive discussions on bounty tournament strategy from professional players and theorists.