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IPI chair facing prison and major fines if contempt charge upheld

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Imperial Pacific International (IPI) Chair Cui Li Jie may have been portrayed as a helpless victim by her legal team, but the courts aren’t buying it. Attorney Juan Lizama told a judge last month that she doesn’t run the casino operator and doesn’t have the skills to oversee its activity, despite the fact that she is a reportedly billionaire entrepreneur, and Commonwealth of Northern Mariana Islands (CNMI) Chief Judge Ramona Manglona didn’t bite. She now wants Cui to explain why she shouldn’t be locked up for civil contempt and why she shouldn’t be fined for failing to comply with a court-ordered subpoena.Cui and IPI have been under fire for a lot of reasons lately, but this particular episode of the ongoing drama centeres on construction workers, as well as a construction contractor. The company that made huge promises with its Imperial Palace casino resort, but which has failed to deliver on any of them, was sued for alleged labor law violations and human trafficking, for which a subpoena was issued to Cui last month. However, Cui never responded, according to the latest complaint.The Guam Daily Post reports that one of the attorneys representing the plaintiffs, Bruce Berline, Cui received the subpoena on January 18, but, the next day, one of her associates tried to “intimidate the process server” by threatening “legal trouble” if he didn’t take it back. On January 19, IPI reportedly returned the subpoena, ostensibly as an attempt to deny it had been delivered. Berline told the courts, “Neither this attempt at intimidation nor the act of returning the physical subpoena negates its legal validity.” He added, “Ms. Cui also never moved the court to quash or modify the subpoena. On Jan. 26, Ms. Cui then failed to appear for the deposition or produce any documents. Ms. Cui clearly violated her legal obligations under the subpoena.”As a result, Berline asked Judge Manglona to hold Cui in contempt of court, and the judge has ordered her to speak up. She faces a fine of $10,000 a day until she complies with the subpoena, and the judge could hit her with even more sanctions, including possible jail time for noncompliance. Cui has to respond by this Wednesday if she wants to avoid any further issues. In yet another episode of the soap opera story, IPI has, once again, failed to pay its bills, adding to a list that keeps growing. The latest comes through the Banes Horey Berman & Miller law firm, which is suing the company for breach of contract. Judge Manglona has already ordered IPI to pay up after IPI defaulted, but it, as is its SOP, never made good on its obligations. It had been ordered to pay six installments of about $16,666 as part of a $100,000 settlement from last year, but will now have to pay $113,333.30 plus 9% interest.

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Bad river value bet?

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Ignition 5NL ZonePreflop: I open BU ($9.15) to $0.15 with AcAh, only BB ($6.85) calls.Flop ($0.31): Ad6c4h. BB checks, I bet $0.11, BB calls.Turn ($0.52): 7d. BB checks, I bet $0.52, BB calls.River ($1.51): 5d. BB checks, I bet $1, BB raises to $2.76, I fold.–I intend to cbet small on the flop the vast majority of the time (especially now as I block so many value hands). The turn changes things a bit – I decide to bet big since I think my opponent has a lot of pair+draw hands.The river looks like a terrible card, but I assume I won’t get bluffed very much and while my opponent could certainly have me beat with 8x, there are a roughly equal number of rivered two-pair type hands (e.g. 55, A5) that probably won’t fold to a bet. Adding in the possibility of occasional other 2p+ that didn’t raise earlier made this profitable in my mind. However, at the time I didn’t take into account the possibility of 3x hands which makes things a bit worse. Am I bonkers for trying to get value here?When I get raised, I guess I’m against a straight almost all the time. The raise is pretty small, but I assume this is almost never a bluff and I don’t think people will raise low two pairs very often for thin value (except maybe Ax which I block pretty heavily). Reasonable fold?

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Newspaper claims footballer won $100m at poker

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Put on your sceptical hat for this, but a newspaper is claiming that former Everton star Thomas Gravesen is one of the biggest winners in poker.

Thomas Gravesen

The Daily Star wrote that the Danish midfielder had won over $100 million playing poker since retiring from football and moving to the United States. 
At this stage it would be remiss of us to point out that the Daily Star in the UK is not exactly a Pulitzer winning publication. Also, mainstream media tend to get turnover and profit gravely mixed up in these stories. 
There are, however, rumours abound in poker that some of the biggest games and therefore biggest winners in poker are from the private games enjoyed by the rich and famous where most professionals are not allowed. Indeed, there is credible evidence to suggest that Rick Salomon and Tobey Maguire are two of the biggest winners in poker history from such games. 
The article also claims that Gravesen lost $54 million in a single heads-up session in Vegas. That actually has some secondary evidence to be found, as five years ago somebody made the same claim on 2+2. They also said Gravesen was up $80 million at the time. 
So it seems clear that Gravesen plays high stakes games and possibly has been a winner in them. However, it is probably better to wait for some respected players in the industry to confirm he is the real deal before we pay too much attention to the $100 million winner claims. 
Do you think this story is plausible? Let us know in the comments:

Barry Carter
Barry Carter is the editor of PokerStrategy.com and the co-author of The Mental Game of Poker 1 & 2, Poker Satellite Strategy and PKO Poker Strategy

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The Hand of Midas Video Slot

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The Hand of Midas a 5 row by 3 reel  video slot produced and developed by the Malta based casino game studio Pragmatic Play, with The Hand of Midas offering players an RTP of 96.54% in what is in essence a high variance slot game.
Based on arguably the most famous of Kings in Greek mythology King Midas, who was able to turn anything he touched into gold ( Hence the term ‘Midas Touch’ ), no doubt players who play this newly released slot at casinos to include the award winning All British Casino, will be hoping for some luck of the same.
The 5×3, highly volatile slot is played out in the shadow of a mysterious ancient temple, featuring colossal gold-etched pillars and a mesmeric soundtrack that will captivate a wide variety of casino players.
If players see the King Midas symbol pop up on screen, they can expect a big win, seeing as this symbol is the most valuable symbol in the entire game. The King Midas symbol pays anywhere between two and twenty times the player’s total stake.
The Free Spins mode is triggered if three or more Scatters land on the reels, awarding a random number of free spins. During the Bonus Mode, Wilds are sticky leading to huge wins, while players can also receive extra consolation spins, benefitting from Midas’ generosity.
Commenting on their latest release which went live across operators that carry game content from Pragmatic Play at the end of last week, Pragmatic Play’s Chief Business Development Officer Yossi Barzely said of The Hand of Midas: “The Hand of Midas takes players to the land of the greedy Greek character as they look to help relieve him of his wealth on the reels.”
“Our exclusive portfolio of slot games continues to grow every month, and new titles such as The Hand of Midas allow us to reach even more players and create more engaging content for them.”

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Willy’s Hot Chillies Slot Review (NetEnt Games)

ผู้อาวุโสในวันอังคาร: Vinayak Bajaj ได้รับ Mint จาก Adda52;  Vaibhav Bhatia ชนะการแข่งขัน Voyager Tournament

It Is Time for The Annual Mexican Fiesta

Hola and welcome to Mexico for Willy’s Hot Chillies slot review. If you are a fan of hot and ultra-spicy food, you have to try out Willy’s chilli. We guarantee it is the best in Mexico. Willy’s hot chillies combine great with his self-made tortilla. This will surely get your belly on fire. You know that the food is excellent when the host himself turns up on reel #1 to personally meet his guests and try out some of that fine chilly.

Max Win2 000x your betMin Bet0.20 coinsMax Bet400 coinsReturn to Player (RTP)96%VolatilityMediumFree Spins AvailableYes

Willy’s Hot Chillies slot review

The location for this video slot game is an isolated ranch between the mountains of Mexico. It is a peaceful and quiet atmosphere. The peace is only sometimes interrupted by the barking of a dog or the crowing of roosters.

The graphics and design include everything you would expect to find in your typical Mexican town: A spiky cactus on the left and a sombrero placed on the wooden fence on the right. The occasional hot air balloon flies by from time to time and disappears behind the reels.

Red, green, and orange chilli peppers hang down from both sides of the reels. This is a slot game created by NetEnt and presented in a 5×3 reel formation with 20 fixed paylines. Every win is accompanied by traditional Mexican theme mariachi music to liven up the atmosphere of Willy’s Hot Chillies.

This slot is of medium volatility and has a nice and round RTP of 96%. Winning bets up to 2 000x the wagered amount is possible, and the game is designed with two main bonus features. Players will come across Multiplier Wilds which can extend and cover the entire reel. The best part of Willy’s Hot Chillies is the Willy’s Hot Wheel Spins feature where you can get coin wins up to x30 your bet and various prizes from the chillie multiplier.

In the next sections of this Willy’s Hot Chillies slot review, we will show you how to make the chilli peppers work to your advantage to trigger hot wins. Speaking of hot wins, have a look at the CoinSaga slots that were ultra-hot during October 2020 in our casino, and try not to burn your fingers. New customers can take advantage of our incredible Welcome Bonus Package. 

Slot Game Specifications

Software ProviderNetEnt GamesDate of ReleaseJuly 2020Slot TypeVideo SlotsNumber of Paylines20Reels Setup5 reelsSpecial FeaturesFree Spins, Chillie Multiplier, Willy’s Hot Wheel Bonus Game, Multiplier Wilds, Fire PointersProgressive JackpotYesSupported DevicesDesktop, Mobile, Tablet

Special Features of the Willy’s Hot Chillies Slot Game

This spicy slot has two extra-hot bonus features to help boost your wins. Those are:

Multiplier WildsWilly’s Hot Wheel

Multiplier Wilds

Four different pictures of chilli peppers are used as the wild symbols in this game. They can substitute for any other symbol when creating winning combinations, but their second function is more relevant. They are equipped with multipliers of 2x, 3x, 4x, or 5x, respectively. Any wins in which they participate will be multiplied with the shown multiplier.

In case more than one multiplier appears, the numbers will be added up. These multipliers can fully extend, cover the entire reel, and become stacked multiplier wilds. Players can discover them on reels 2, 3, 4, and 5 during the base game. The only reel they can’t pop up on is reel #1. The first reel is crucial in this online slot game for other reasons which we will cover in the next part of this Willy’s Hot Chillies slot review.

Willy’s Hot Wheel Bonus Rounds

Willy’s Hot Wheel feature is the equivalent of Free Spins. This bonus round is triggered if a bonus symbol of Willy appears on reel #1, followed by at least one Multiplier Wild that covers an entire reel. The number of Free Spins will depend on the total number of stacked wild multipliers. For example, if two x3 stacked wilds appear on two reels, the number of Hot Wheel bonus games will be 6.

Willy’s Hot Chillies – Hot Wheel

Every fully covered wild turns into a Fire Pointer. The Fire Pointers will point towards wins throughout the Hot Chillies bonus game. A completely new type of game will start where the spinning cycle is performed horizontally and above the original grid formation.

Every Fire Pointer can pay one of the following rewards:

Coin Win – random cash prizes ranging from 1 to 30 times the initial bet can be awarded to the players on online casinos.+3 Spins – 3 additional Free Spins are added to the sum of the Fire Pointer that triggered the award.Extra – the extra reward turns one of the reels into a Fire Pointer.Chillie Multiplier – this option increases the displayed chilli multiplier by 1 every time a Fire Pointer points on a chilli pepper.

The number of Hot Wheel bonus games decreases after every spin. Besides rewards, the wheel of the Hot Chillies Willy slot also contains empty spaces that award nothing and only reduce a player’s Free Spins balance. All wins you land during the Free Spins games are multiplied with the Chillie Multiplier. The feature is over when all the awarded spins for all Fire Pointers go down to 0.        

Willy’s Hot Chillies Slot Review – Paytable and Gaming Options

Symbols

The Willy’s Hot Chillies online slot is equipped with 8 regular symbols, which can be further divided into two groups. There are 4 high-value and 4 low-value symbols. The 9th icon is Willy’s Bonus Symbol. 

The high-paying symbols are the tortilla and the bottle of green chilli sauce, a pinata, and a treasure chest full of gold. In my opinion, the treasure chests were a completely wrong move by NetEnt, and I can’t see the connection or symbolism between this item and the overall theme of the game. Nevertheless, it’s the most rewarding symbol. It can pay up to €1.200 when 5 of these symbols appear in a winning combination.

The purple sombrero-wearing pinata offers rewards up to €800 at best, while the taco and chilli sauce pay no more than €400 each.  

All four low-value icons have the exact same payout rate. They top-up the player’s balance by €60 for 3 appearances in a line, you get €100 for a combination of 4 and €200 for the maximum of 5 symbols per payline. The four card suits are diamond, club, spade, and heart-shaped.

Buttons and Options

The button arrangement is very simple. Everything you need can be found at the bottom of the screen, just below the reels. The big round blue button starts the spinning of the reels, but before you get to that, there are a couple of other things we need to mention first in this Willy’s Hot Chillies slot review.

Selecting a preferred betting amount should be done before anything else. Here you have an abundance of choices. The minimum betting amount is €0.20, and the maximum is €400 per spin. Consider how high you want to go and click on the corresponding field. Always remember to gamble responsibly, and don’t wager what you can’t afford to lose.

When that is done, we suggest taking a look at the paytable information. Notice the info logo on the left? Click on that to check out the payout values, read about the Multiplier Wilds, and Willy’s Hot Wheel feature.   

While you play this game, don’t forget to keep an eye on the background. You will be surprised by what you see there. Hot air balloons can be seen in the sky, but instead of regular balloons, one of them flies with the help of a sombrero. A second hot air balloon with a traditional Mexican moustache is visible as well. Can you make out what the third one is? A very creative way by NetEnt to present some of the Mexican cliches. 

On the bottom far left, you will notice a button with 3 lines. Click on it to bring up the game settings menu where you can activate or deactivate quick spins, the option to use the spacebar to spin the reels, etc. A detailed overview of the game rules is also available to make the players familiar with the ins and outs of Willy’s Hot Chillies slot.

An Autoplay button is located in the middle, on the left of the spin button. Spin rounds from 10 to 1000 are on offer. Players can activate one or more stop conditions in case their balance goes above or below a set limit. To see what is available, click on the advanced settings after selecting your preferred number of auto spins.

There is only one more button hiding on the far right. That is the volume slider where you can adjust the sound or turn it off altogether if you prefer silence.

Final Thoughts

When we tested the game for the purposes of our Willy’s Hot Chillies slot review, we had some impressive results. The Willy’s Hot Wheel feature was activated more than once, and the Multiplier Wilds were capable of paying out several €1000 worth of wins.

But Willy’s chilli ranch let us down a few times as well. The bonus symbol would appear on reel 1. Still, a fully covered Multiplier Wild symbol didn’t find its place on any of the remaining reels. But that is the risk you should be willing to take.

This slot game is still entertaining to play, and never once did we miss the usual Free Spins bonus round. Willy’s Hot Wheel feature makes up for it. The short music sequences that follow multiplied wins are a great celebration. It is like NetEnt wanted to say: “Good job!”

I have recorded some great wins during the Hot Wheel bonus feature but was never able to activate more than one Fire Pointer. To get max rewards, you can play the Willy Hot Chillies slot on CoinSaga for real money wagers. A Welcome Bonus awaits all new players! Share your best results with us in the comments below, and try not to burn your eyes on the hot chilli sauce.        

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Crown boss confirms exit, but won’t leave empty-handed

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Crown Resorts is going through a massive shakeup after the New South Wales Independent Liquor and Gaming Authority (ILGA) deemed the casino operator unsuitable to hold a license. Several top dogs on the company’s board stepped down and there was talk that CEO Ken Barton was going to give up his position, as well. That exit has now been confirmed, but Crown will reportedly give Barton some lovely parting gifts for his participation. According to The Guardian, Barton, who had only led the company for about a year, is expected to receive a nice compensation package as he packs up his things. He will reportedly receive AUD$3 million ($2.33 million) in severance pay, which will be more than enough to keep him going for a while. The money comes as part of his employment contract, which stipulates that he be paid a year’s salary if he leaves the company without notice. Only “serious breach or misconduct” could have prevented Crown from paying the severance. Barton’s exit, and the cashout, comes as he was singled out by the ILGA and its Bergin inquiry for his “serious lack of judgment,” a refusal to respond to notices of potential money-laundering activity at Crown and his close relationship to former Crown boss James Packer. Packer has been accused, among other things, of still secretly running the company after his ouster, which could have allegedly only been made possible through information provided to him from Barton. With Barton heading for the exit, Crown’s board chair, Helen Coonan, will have to take on additional responsibilities for now. She will wear the CEO hat while the company searches for a new boss, something she publicly states is not a role she accepts enthusiastically. She said in a Crown notice to the Australian Securities Exchange, “Assuming the role of executive chairman is a decision I have not taken lightly but the board feels it provides leadership stability and certainty at this important time for the business.”In addition to Barton, Andrew Demetrious, Guy Jalland and Michael Johnston have extricated themselves from the Crown umbrella. With that, the Victorian Commission for Gambling and Liquor Regulation, which is also investigating Crown’s ability to hold a casino license, will drop its investigation of Barton and Demetrious. However, its scrutiny of the company and its operations will continue, as will its investigation into the actions of another Crown director, Harold Mitchell.

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Universal Entertainment in the market for a SPAC for Okada Manila

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Almost three years ago, Universal Entertainment Group had a dream. It wanted to see Okada Manila, owned by subsidiary Tiger Resort, Leisure and Entertainment, listed on a stock exchange somewhere. Things didn’t go as planned initially, but it’s time for the pieces to be put in place, and Universal is going to make another run. This time, it wants help from a special acquisition company (SPAC) in the U.S. so it can fulfill its dream. Given the rise in popularity of SPACs in the gaming industry lately, Universal probably won’t have too much difficulty finding a partner, as long as its sordid past can be kept behind it.Universal wants a SPAC, also often called a blank-check company, willing to take a chance on helping Okada Manila become a publicly-traded company in the U.S. It hopes to land a spot on either the NASDAQ or the NYSE, and will take whatever it can get. The resort’s continued cost-saving efforts to combat COVID-19 have reportedly paid off, and Universal is convinced that the timing is perfect for a public launch. In a letter sent to investors last week about the search for a SPAC, Universal asserted, “In view of this situation, [and] having positioned its IR Business as the core business of the Company Group, the Company recently arrived at the decision to pursue a detailed examination of the listing of that business on either the U.S. NASDAQ Stock Exchange or the New York Stock Exchange with the aim of realizing the further expansion of that business and greater corporate group value.”2020 saw a lot of interest being given to SPAC deals, and that was just the beginning. 244 blank check companies connected with entities looking for a way to go public, ultimately attracting $78.2 billion through initial public offerings (IPO). However, 2021 is on par to see even greater activity, with 134 SPACs having attracted $39 billion from the start of the year until last Friday.Universal is reportedly already working on deals to finalize the value of Okada Manila and attract more interest. It added, “The Company has already executed advisory agreements with multiple financial advisory firms in Japan and the U.S. in order to prepare for the listing of its IR Business … and is currently engaged in the selection of a SPAC, the investigation of aspects involving the law and tax systems, the revision of the capital structure of the Company Group as a whole, with the aim of listing the business sometime in fiscal 2021.”

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California slaphouses continue to get slapped by the police

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It’s not easy trying to be a provider of illegal gambling activity in California. The Golden State has a history of digging up underground gambling houses and isn’t slowing down. Last week, police in Anaheim descended on a business they suspected was operating as a slaphouse, an illegal gambling site, and weren’t wrong. By the time the raid was over, around 70 people had been arrested, even as many tried to scatter like rats from a sinking ship.What was reportedly a furniture store was actually an illegal gambling property. Police spent two months gathering evidence and securing their case before moving in last Wednesday, serving a warrant that morning and confirming their suspicions. Inside, there were gambling machines, money and guns, as well as a number of gamblers. Some of those busted out windows as they tried to make a run for it, only to be met outside by more police, including members of the local SWAT team.The slaphouse was reportedly able to function undetected 24 hours a day, seven days a week. Police had received numerous complaints about the operation before they launched their investigation, and are becoming more familiar with the seedy underground gambling scene that continues to emerge across California. Most of these, in addition to offering a form of entertainment California lawmakers don’t want to address, involve illegal weapons and, on occasion, illegal drugs, making them a public risk that has to be contained. 2019 saw a number of slaphouses busted, most around the Los Angeles area. Other cities have to deal with them, as well, with Long Beach often a favorite go-to spot for criminals.This is the second time in five months that Anaheim police have intervened in an illegal gambling house. Last October, 70 people were arrested when they moved in on a supposed slaphouse, uncovering video gaming machines, electronic gaming tables and more. That raid apparently didn’t provide the example that it should have, as the raid last week occurred right next door to that October bust.Slaphouses get their names, according to the way the tale is told, from the sound made when a gambler slaps his or her hand on the controls of the gaming machine. If California continues its crackdown on the illegal operations, a more fitting description would be that the name comes from the sound of having the cuffs slapped on you at an underground gambling house.

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The Strangest Casino Jackpot Wins of All Time

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08:1615 FebEveryone has heard of life-changing casino wins where lucky players go on a winning spree and ‘break the bank’, but today we are going to look at some of the more unusual big wins that have rocked casinos over the years…First up, when dreams come true…In 2015, life changed for 53-year-old taxi driver Goksel Selay when he scooped £90,000 playing blackjack -but he already had a suspicion a big win was on its way.“I had had a dream a few days earlier about winning big money and told my wife about it,” the Cyprus-born jackpot winner explained afterwards.Cutting short his cab-driving nightshift because “it was very quiet”,  Goksel decided: “I would try my luck because I had the dream and it came true.”He added: “I don’t usually play Blackjack as I prefer roulette but I wasn’t having much luck there so I decided to play Blackjack instead as I saw the jackpot was rising.”Hitting four aces at the Genting Club Westcliff in Southend, England, did the trick and soon he was £89,950 wealthierOf course, you don’t have to drive the streets of a seaside town in search of a fare or a jackpot, with the likes of Casimba online casino offering huge winning chances from the comfort of your home.That’s how British soldier John Heywood bagged a monster $13million+ jackpot – and it came just 25 minutes after he opened his online account!The sum was a world record when the 26-year-old scooped his huge win in 2015, and it cost him the princely sum of just 25p to play the MegaMoolah slots.His first plan on discovering his new riches was to pay for his SICK father’s medical treatment, and for himself – a yellow Bentley Continental convertible GT!A cautionary tale now if you’re planning on getting someone to kiss the dice or press the buttons for you for good luck, as whatever you win might just go to your lucky charm instead.That’s what happened to jackpot ‘winner’ Jan Flato, who asked his girlfriend to do the honors on his favorite slots game. When the reels hit home and the $100,000 jackpot, state laws meant that it was the girlfriend who received the cash! Hopefully the pair are now happily married and enjoying the win together…We’ll finish off our list of the bizarre and most unusual casino wins with the following incredible tale – though we wouldn’t recommend copying it to everyone!Back in 2004, Ashley Revell decided to cash in his life possessions and stake it all on a single roll of a roulette wheel. BMW car, Rolex watch, golf clubs, in fact pretty much everything except for the clothes on his back went into his Las Vegas kitty.When it stood at $135,300, he was all set for the double-or-nothing bet Plaza Hotel and Casino in Las Vegas, deciding only at the last minute which colour it was all going to ride on.Betting randomly on red, a few seconds later the ball landed on number 7 – a red number! – and Revell had scooped $270,600, and he was soon heading off for a European trip to celebrate on a new motorcycle. Dreams do come true!Did you like this article?Tweet
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Why busting early in PKOs might be a good sign

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Dara O’Kearney with a paradigm shift about why the early game in PKOs is not about survival like it is in MTTs.

Dara O’Kearney 

If you bubble a lot of tournaments, especially satellites, there is a good chance you are playing them correctly. If you followed Liverpool in the 1970s and 1980s you’ll know they won the most league titles, what you may not know is that they also had the most runner-up finishes. Near misses in both MTTs and football seasons are a sign that you are doing the right things to win, long term.
That is not the case in poker’s fastest growing format Progressive Knockout Tournaments. In PKOs busting out near the money often is not necessarily a good sign unless you tend to pick up plenty of bounties along the way. In fact in PKOs being one of the first players to bust, although very counterintuitive, is often a sign you are playing them correctly. I have a reputation for being a tight player but I am often the early exit in a PKO.
The reason for this is because bounties are worth more early on. Even though the bounties are bigger in the late stages, in relative terms to your overall equity they are worth more at the start. If you win a bounty first hand of a PKO you have immediately won 25% of your equity back, there will almost never be a situation in the late stages where the bounty is worth 25% of what your current equity is.
That’s a fairly big mistake people make, they see the absolute numbers and think the bounties are important to chase, but the reality is they are much more important at the start. They mean you win 25% of your buy-in right away but also having a big stack is really important, because you can win more bounties.
Upside greater than downside

Getting early scalps is massive in PKOs

For this reason, taking risks to cover players at your table is a key strategic adjustment of PKOs. It puts you in a position to win more bounties at a time when they are worth a lot.
At the start of my book PKO Poker Strategy we give a hand example where we show that if two players get all-in the very first hand, the winner wins more equity than the loser loses. This doesn’t happen in normal tournaments, if you win an all-in at the start of a $200 tournament, your equity does not increase by $200, it increases by less than $200 and the remaining equity goes to the other players. This is the foundation of ICM and why you should usually call tighter in tournaments than cash games – the downside of losing is always greater than the upside of winning.
The example we give in the new book is an all-in and a call in a $200 10-person PKO where the loser loses $200 of equity, which is obviously just their buy-in, but the winner gains $224.45 equity, which is $24.45 more than went in the middle of the table. The reason for this is the winner gained $3.06 of equity from each the players not involved in the hand.
The reason for this is because when you double up early in a PKO and cover everyone at the table, you can currently win every single bounty at the table, which nobody else can. Every hand is more profitable to you than it is to anyone else. For that reason there is a real incentive to gamble and take some otherwise -EV lines to win bounties.
A paradigm shift

It goes against conventional poker wisdom to take early risks

We have heard a few people suggest that late registering the 2nd hand of a PKO is a good idea because it means you cover everyone but the player who won the first hand (because everyone else lost at least an ante). This is a novel idea but being the chip leader is so much more advantageous. The above hand example also demonstrates why late registering PKOs in general is a terrible idea, you literally hand EV to the other players and your equity is worth less than the amount you bought in for right away.
A lot of otherwise very good players do not understand this fundamental difference between PKOs and regular MTTs, so they do not realise how valuable bounties are at the start. Other players may conceptually understand it but have spent so long playing a cautious survival-based strategy in MTTs that PKOs are too much of a paradigm shift for them.
Whether they like it or not, PKOs are only going to get more popular and understanding how valuable the ability to win future bounties is an absolute must if you are going to thrive in knockout tournaments.
Dara O’Kearney’s new book PKO Poker Strategy is available on kindle or paperback at Amazon right now. 
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