Microsoft may of canned 1 VS 100 a few months ago but i am not saying that they have abadndoned live episodic games on Xbox Live yet. Instead seems like they are creating a second go and they are now beta testing a different game show, Full House Poker, which features a method of Hold'em called Texas Heat.
Avatars is going to be used to represent players available and will have unique tell signs. There will be new accessories on your avatar to sport likewise. (Maybe a Full Tilt hat?)
Players play for experience points and chips as well as their overall progress and bankroll will probably be saved between sessions. Full House Poker will likely feature a leaderboard in order to compare your card shark skills on poker rules straight rules your buddies.
I think it might be a great incentive should you could win MS Points or XBLA games as prizes for going up to now in the tournament, but that is just me wishful thinking...
No word on when exactly Full House Poker is arriving out yet, but I couldn't survive surprised to view it out by next Summer.