Microsoft may of canned 1 VS 100 trapped on tape but i am not saying that they have abandoned live episodic games on Xbox Live yet. Instead seems like they are passing it on a second go and are also now beta testing a brand new game show, Full House Poker, which features a method of Hold'em called Texas Heat.
Avatars will likely be used to represent players revealed and will have unique tell signs. There will be also new accessories for ones avatar to sport too. (Maybe a Full Tilt hat?)
Players play for experience points and chips along with their overall progress and bankroll is going to be saved poker rules under raise between sessions. Full House Poker will likely feature a leaderboard to help you compare your card shark skills in your buddies.
I think it might be a great incentive in the event you could win MS Points or XBLA games as prizes for going until now in the tournament, but that is just me wishful thinking...
No word on when exactly Full House Poker is on its way out yet, but I couldn't survive surprised to discover it out by next Summer.