I love playing MTT bounty tournaments. There is no greater thrill than to knock somebody out and collect their bounty. I am writing this during the break for the 8:30 p.m. ET bounty tourney ($13.50 buy -in, $2.50 bounties).

The interesting thing about bounty tourneys is when to make the strategy shift from chasing bounties to playing it straight up. On  Saturday, I had made it to the final 3 tables of a $54 bounty tourney that had more than 1,300 players. I had collected five scalps and was assured of at least a $200 prize, when I got caught between a rock and a hard place. A player with a small stack (about 50,000 chips) went all-in pre-flop. I had been watching this guy, and he had a habit of going all-in with not exactly great cards. I was in the spot before the button, so there were 3 players left to call after me. I had A-10 offsuit, and I was fairly confident I had the person going all-in beat (I was right, he had Q-9). But I was very worried about the person sitting on the BB, because he had a much bigger stack than I did.

I was going to play it safe and fold, but at the last second I decided to go for it. The lure of the bounty was too much to resist. Of course, the next two guys folded, but the BB called me. Turns out, he had A-K and knocked me out (the flop came up K-10-8) , so I got my 10 but he got the K and still beat me). I wish I had listened to my gut and folded. Oh well, live and learn.