Knockout Tournament Mastery by Alex Theologis

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Alex Theologis

Alex “Pwndidi” Theologis is a professional poker player from Greece who broke onto the high-stakes MTT scene in mid-2018 after years of grinding and refining his skills. Thanks to relentless dedication, he has accumulated more than $2,000,000 in profit and $12M+ in lifetime earnings. His career-defining result came in the $25k WSOP Super High Roller, solidifying his reputation as a dangerous competitor at the top levels.

Alex has recorded numerous training videos for Run It Once, but his recent focus has been on PKO (Progressive Knockout) tournaments. The expertise he has developed in this format is showcased in this course, where he demonstrates why he is regarded as one of the strongest PKO specialists and a top instructor for this game type.

You’ll Learn:

• Core concepts and advanced strategies for progressive knockout events, combined with clear, practical examples.

• How to leverage Holdem Resources Calculator for bounty preflop work and export results into PIOsolver.

• Solver-driven adjustments for preflop play when holding the covering stack or being covered in various spots.

• Understanding bubble and final table ICM in PSKOs and how it differs from standard tournaments.

• Key postflop changes when you are covering opponents or when they cover you.

• Theoretical solver insights applied to mystery bounty formats.

You’ll also get:

• A full final table and hand history breakdown by PKO experts Graftekkel and OneH1tWonder.

• Two extensive hand history reviews from Alex himself.

• A PSKO quiz designed to test your progress.

• Excel comparison sheets outlining different postflop PKO strategies.

• Slide decks summarizing theory, bounty calculations, and chapter highlights for quick reference.

• A glossary of course terminology for easy lookup.

• Access to a private Discord community, where you can ask Alex questions directly and receive his feedback on your hands.

Course Videos

• Introduction
  We introduce the structure of the course, what you can expect to get out of it, and the best way to move through the videos to get the most out of them.
  08:03
• Basics: What’s a Bounty Worth, Theory, and Solvers
  The math behind the value of a bounty is discussed and we introduce the theory along with how to use solvers for analyzing bounty tournaments.
  51:39
• Opening and Jamming as the Big Stack
  When you hold the big stack your ranges need to reflect your ability to scoop bounties and we look into how to constuct them effectively.
  20:34
• Opening and Jamming as the Short Stack
  When playing the short stack your opponents are going to be more apt to play against you with your bounty at stake and we need to adjust accordingly.
  27:54
• 3-Betting and Calling as the Big Stack
  3 betting ranges can change dramatically based on your stack size and here we look at doing so as the big stack.
  30:11
• 3-Betting and Calling as the Short Stack
  Just as having the big stack alters our range, 3 betting as the short stack looks dramatically different and we explore that here.
  28:09
• Blind v Blind: SB is Short
  Blind battles can be tough to navigate but occur frequently and we discuss how to approach when the SB is short.
  49:45
• Blind v Blind: SB is the Big Stack
  On the flip side, we look at a blind battle where the SB covers the BB.
  31:05
• Limping: When and Why
  Limping marks a key difference in this format with quite a few opportunites to do so and we look at when and why to limp.
  28:46
• Multiway All-ins
  Occasionally you’ll find situations with multiple players all-in and we have to narrow down our approach that takes a number of factors into consideration.
  27:34
• Postflop Adjustments: Covering and Covered
  Whether you’re covered or covering your opponent, your postflop play will change dramatically and we discuss how and why that is.
  32:19
• Postflop Adjustments: Covering and Covered (part 2)
  We dive further into the details of how to approach postflop situations both when you’re covering your opponent and covered by your opponent.
  35:40
• ICM Bubble: Covering and Covered
  Even though bounties play a huge role in your decisions, you still need to contend with ICM and we look specifically at bubble play in this installment.
  40:16
• ICM Final Table: Covering and Covered
  At the final table we’ll have many factors to contend with. Here, we dive into ICM when covering and covered.
  45:02
• Field Size Differences
  The size of the field will have a definitive impact on your decisions, the importance of bounties, and the structure of the prize pool and we examine each.
  18:16
• Adjustments to Very Short or All-In Stacks
  Inevitably you’ll have hands where players are either forced or nearly forced to put their stacks in and with a juicy bounty things can get weird.
  15:22
• Extensive HH Review: My Tournament Hands
  I load up some real hands that I’ve played to help illustrate a number of topics from previous lessons.
  33:14
• Extensive HH Review: My Tournament Hands Continued
  More illustrative examples of real hands from tournaments that I’ve played.
  44:09
• Extensive HH Review: My Tournaments Concluded
  We continue to break down the action from my own tournaments and wrap up with hands that illustrate a variety of lessons.
  39:42
• Extensive HH Review: My Tournament Hands (part 2)
  We continue to look at real hands from various tournaments that show the decision making process.
  50:14
• Extensive HH Review: My Tournament Hands Continued (part 2)
  The final few hands from real tournaments that I’ve played.
  43:54
• High Stakes PKO with Graftekkel
  Special guest Graftekkel joins us to review some high stakes hands and get the perspective of another high stakes professional.
  52:35
• High Stakes PKO with Graftekkel (part 2)
  I wrap up with Graftekkel with some more hands along with his keys for success at bounty tournaments.
  51:14
• Mid Stakes PKO with Oneh1tWonder
  Oneh1tWonder joins me to review hands from a mid stakes tourney and offer his thoughts on PKO strategy.
  43:56
• Mid Stakes PKO with Oneh1tWonder (part 2)
  The hands continue to roll as Oneh1tWonder shares his thoughts and bounces ideas off of our hero.
  44:50
• Mid Stakes PKO with Oneh1tWonder (part 3)
  We wrap up our analysis of mid stakes hands with our special guest.
  37:04
• Mystery Bounties
  Mystery bounties have grown in popularity and we examine the approach to this format and find hueristics to help guide our play.
  13:26
• PKO Quiz: Test Yourself!
  Time to test your knowledge and see if what you’ve learned is sticking with this quiz.
  39:30
• In Closing
  Here I recap the most important concepts from the entire course and offer my thoughts and keys for continued success.
  03:50

Course Updates

• Update #1: Bounty-Sensitive Opening Ranges
  In this first update chapter, we’ll quantify how strongly we have to adapt our opening ranges depending on the stack distribution at the tables. You’ll learn several heuristics to assess when being covered or covering has the strongest impact with four real-hand examples.
  17:53
• Update #2: Bounty-Sensitive 3-Bet Strategy
  We shift our focus to how different bounty and stack size distributions impact our optimal 3-betting strategy. We’ll explore heuristics for when to size up, when to size down and which hands to select for 3-betting when covering or being covered.
  21:58
• Update #3: Drilling ICM Scenarios in Bounty Tournaments
  In the latest video update, we explore different bubble and final table scenarios to improve our ability assess the influence of bounties on ICM calculations
  46:31
• Mystery Bounty Update 1 – Theory Revisited
  In this video, Alex revisits the Mystery Bounty Theory discussed earlier and expands on it, detailing how and why the value of the mystery bounty changes as the tournament progresses
  15:42
• Mystery Bounty Update 2 – Examples and Application
  In this video, Alex provides examples of the new theory as well as how to apply it while playing, whether that is live or online
  17:03
• Mystery Bounty Update 3 – The Non-Allin
  In this video, Alex explains a unique strategy found in bounty tournaments, especially in Mystery Bounties, where instead of going all-in as a shortstack, you min-raise instead
  12:05