The G:loot cup will be bringing an interesting format to online Counter-Strike: Global Offensive tournaments with big prize money on the line. With a prize pool of $40,000, teams will have to do their best round after round to fully cash out.

The G:Loot cup will award players cash, round by round, with the prize money increasing as teams move through the tournament. According to Fragbite, the awards will play out as such:

"Throughout the eight qualifiers, the participating teams will be rewarded €1 per round won until the RO2 where the payouts will be raised to €3. At the qualifier finals, the payout will be raised to €5."

"A whopping €25 per round won will be waiting for the teams that successfully qualify for the main tournament. This is continued all the way throughout the semifinals as the payout will finally be raised to an impressive 50€ per round won. Beyond the prize money from round winnings, the tournament also features a €1,000 extra that will be given out to the winners of the tournament."

The tournament will run from July 24 to August 20, all of the action to be played out online.