General strategies for tournaments with huge bounties

Tournaments of poker in Greece where the bounties drastically exceed the buy-in (sometimes even the prize money you can expect at the final table) are rather rare, but they do occur from time to time – especially as promo events. If you follow enough streamers on Twitch for example you will regularly find viewer bounty tournaments where the streamer has a hefty bounty on his head to encourage action.
If you play against a player who has such a bounty, the usual poker rules only apply to a very limited extent, as the seven-deuce example above shows.
You should be extremely liberal in your willingness to call an all-in; if necessary, you can call an all-in with literally every hand.
At the same time, you can play extremely aggressively against the bounty player as long as you have at least a theoretical chance of winning the hand. If you have no other option, you can go all-in on the flop with a gutshot for ten times the pot. In the worst case, you see the showdown as a 1:6 underdog – but that doesn’t matter much, as we saw above.

On the other hand, if you have a strong hand against the bounty player, you shouldn’t necessarily try to milk the player for a moderate amount, but try to force an all-in as well. Sure, you isolate yourself a bit against stronger hands, but in case the bounty player calls the all-in with a weaker bluff-catcher, you bag the bounty.
In summary: When playing against players with huge bounties, you should maximise your chances to collect the bounty and give yourself as many chances to do so as possible. And such a chance always means an all-in.

The most important rule when playing against bounty players
One rule is fundamental when playing against bounty players: You have to have more chips than the player with the bounty, otherwise you can’t eliminate them from the tournament. If you can’t kick them out of the tournament, you can’t collect a bounty and all the above considerations of expected value go out the window.
In the seven-two example above, if you have even one chip less than the bounty player, the call immediately becomes disastrous, because you no longer win the bounty if you hit your 20 per cent miracle. You just made a ridiculously bad call.

Strategies for regular knockout tournaments
Knockout, Super Knockout and Progressive Knockout tournaments of poker in Greece are very popular and the bounty strategies discussed here also apply to a certain extent.In these tournaments, bounties are awarded to every player and are therefore much smaller in relation to the total prize pool. In other words, winning a bounty usually nets you only a fraction of the buy-in and not many times as much as in the tournaments described above.