Here's the text from a doc that I print and hand out at the game.
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Christmas Holdem Tourney
The Game: No Limit Holdem tournament with rebuys
Buy-In: $5 entry for 5,000 chips.
Rebuys: $5 for 5,000 chips, you must bust out to rebuy. Rebuys end after two hours (end of 400/800).
Add-On: $5 for 15,000 chips, one per player available at the end of the rebuy period.
What’s the Catch?
There is a Bag of Presents at every table, and Santa’s coming! If you table your hand at showdown and it contains a red king (K♦ or K♥ in the hole), you must pull one chip at random from the Bag of Presents.
Contents of each Bag of Presents
Tourney Chips (3x of each): 500 chips, 1000 chips, 5000 chips.
Special Chips (3x of each):
Chip | During Rebuys | End of rebuys | After rebuys |
Merry Christmas | May exchange for one free rebuy when busto. | Trade for a free add-on (15,000 chips). You cannot also BUY an add-on. | Trade for 5,000 chips. |
Secret Santa | The Spirit of Christmas moves you! You are all-in blind on the next hand. | Trade for 5,000 chips. | Trade for 5,000 chips. |
Gift Exchange | Immediately exchange all of your chips, including special ones, with the player on your left. | Trade for 5,000 chips. | Trade for 5,000 chips. |
Christmas in Omaha | During your action or at showdown, you may trade in this chip for two extra hole cards. Use any combination of the board and your four cards to make the best hand. | Trade for 3,000 chips. | Trade for 3,000 chips. |
Bah Humbug! | Keep this chip until you win a pot or bust. While you have this chip, you are only dealt one hole card. | Trade for 100 chips. | Trade for smallest chip in play. |
Company’s Coming! | Trade places with a player at a different table (same if only one table left). Take your chips with you. | Same. | Same. |
I Think I Saw Santa | Each opponent still in the hand must expose one random hole card. | Same. | Same. |
Rules for Bag of Presents
- There are three ways to win a present at showdown with a red king:
- If you table your hand and win, you must take a present.
- If you are all-in, your hand must be tabled. Win or lose, you must take a present.
- If your opponent tables a better hand, you may choose to table your loser and take a present, but it isn’t required.
- If you bust out and win a present, the present you've drawn is applied after you rebuy. If you choose not to rebuy, you don't pull a present. If it is after the rebuy period, pull one chip from the bag as a "Last Minute X-Mas Gift."
- If a table breaks and there are presents on it, the presents are randomly distributed to the other bags.
- The Night Before Xmas. When there are 10 minutes left in the last blind level before the end of rebuys (400/800), the clock is paused and the current hands are finished. Move the button, then starting with the small blind, each player may optionally draw once from the Bag of Presents. Afterward, restart the clock and continue play.