I think they are very different compared to a regular freezeout tournament. In a KO you can't utilize survival strategies successfully, because a small stack here means two very important things:
- You'll be the favorite target for everyone on the table. The smaller your stack, the juicier it looks. More people will try to get involved in a hand with you, so multi-way pots will be more common when you put chips in the pot voluntarily.
- You can't benefit from KOs yourself, because you can't eliminate a bigger stack. It's not uncommon to see an all-in player just crippling another, quickly followed by a 3rd player finishing the crippled player in a subsequent hand, thus "stealing" the bounty with less risk involved.
For these reasons, it's extremely important to maintain a bigger stack. A tight playstyle isn't an option. You either become looser or a loser. When everyone is looser, the games become more volatile, so your BR management is even more important.
Really good explanation from Skaniol! Of course you need to adjust to bounties. If you dont, you are much better off sticking to regular tournaments. You also dont want to late register or rebuy except in the very few first blind levels, because some of the bounty price pool has already been distributed, so you are not even contending for that money!
And finally bounties twist the math off all-in pots. You should be more inclined to get it in, if you can score a big bounty by risking a small amount of chips but less inclined to get it in, if the other player has you covered, or his bounty is insignificant relative to his stack.
The only time, bounties tend to not matter, is in the traditional format, where they stay constant, and most of the field has already been eliminated. At that point it become more or less like a normal tournament. This is not the case with bounty builders though, because the bounties get larger and larger, as more players are knocked out.