Strategy
Max's play style can be really random. He may play smart, cowardly, aggressively, or just bluff. He may go all in with a horrible hand even when all 5 cards have been drawn. Max's actions don't really reflect his hand which makes it really hard to read him when he isn't giving away his tells. I feel you will win if you have at worst, a high pair. You can get away with pressuring him with bets and raises which can make him fold, or even get him to Call which is easy money right there. However, he may re-raise or even go all-in which can be for a good reason or no reason at all. If a 5 card hand is about to be dealt or already dealt and Max starts raising, unless you have something good, I suggest bailing. Beating Max depends on him making multiple poor decisions like him betting a bunch and then folding after someone re-raises him, or staying to the end of the river and having nothing to show for it.

Hard Mode:
Max's play style is very different from his Normal Mode play style. He tends to fold a lot more but still occasionally making a bad call or raise. Do not take Max lightly and only fight against him if you are really sure you got him beat. If you try to bluff or scare Max off, there is a good chance that he will go all in with a decent hand. Play honestly to beat Max here since he's not very random anymore.

Tells
*If Max face palms when the first three cards are dealt (the flop), he has a bad hand.
*If Max shakes his head after any card is dealt (not the blinds), he has a mediocre hand.
*If Max's left hand shakes a little while betting, he is bluffing.
*If Max's right hand shakes a little while betting, he has a good hand.
*If Max stands on his chair & moves (but not when talking about the pinata), he has a very good hand.

Reward for K/O
Max's buy-in item is his trusty gun, and Sam's Badge. You do not need to beat him twice to get both items.
Special Item: Max
Knock out Max after he's bought in with his special item to unlock it in TF2, the gun is given to the Scout and Engineer ( Lugermorph ), and the badge is for all 9 classes. ( License to Maim )

Strategy
Strong Bad is the daredevil of the group. Taking risks as often as possible, betting high amounts, calling your bets just to stay in, and even going all in pretty frequently. Good hand or bad hand, he will try to make everyone fold. This makes Strong Bad either a total breeze or a load of stress on your back. His reckless strategy can make it hard to tell what kind of hand he has. But when he shows his bad tells and continues betting anyway, he's basically giving his money away. Strong Bad will raise when everyone keeps checking. Don't be surprised if he pressures everyone into folding with his absurd raises. In fact, unless someone can actually make him fold, expect to see Strong Bad whip out that shovel A LOT. Occasionally, Strong Bad plays cowardly when he has a bad hand, but most of the time, even if I see his bad tells, he still plays mostly aggressive. If you have a sub-par hand or better, take Strong Bad on. If you out beat him at his own game, he often tends to cool down his aggressive play style, but it doesn't last long. Beating Strong Bad depends on you and/or the other players willing to challenge him, and assuming someone has a fairly decent hand, Strong Bad is usually taken out pretty quickly.

Hard Mode:
Strong Bad does not change really. He still makes bets and raises like crazy, often re-raising you. He plays a bit defensively and cowardly more every now and then, but for the most part, his strategy is the same as Normal Mode.

Tells
*If Strong Bad slams his head against the table a few times, he has a bad hand.
*If Strong Bad throws his arms up (not when saying "FREE CARD!") while looking at the other players, he has a very good hand.
*If Strong Bad shows only the bottom half of his eyes, he has a good hand.
*If Strong Bad shows only the top half of his eyes, he is bluffing or has a bad hand.

Reward for K/O
Strong Bad's buy-in item is Homestar Runners shutter shades.
Special Item: Strong Bad
Knock out Strong Bad after he's bought in with his special item to unlock it in TF2 for the Demoman. ( Dangeresque, Too? )

Strategy
The Heavy is probably the most difficult opponent. He folds when he knows he's got garbage, but plays aggressive with a sub-par and good hand. Compared to Max (in Normal Mode) and Strong Bad, The Heavy is a tough zit to pop. He will raise when he has a good chance of winning and is eager to bet if Strong Bad hasn't done so already. Heavy doesn't like to lose, so once he starts raising or even if he has stuck around to the River, expect him to be at the Showdown ready to fight. Don't try to fight The Heavy unless you are VERY confident you can beat him. Beating The Heavy is likely going to come down to folding when he starts betting, raising, and re-raising so he can't make a lot of money off of you, and not betting huge amounts but instead small amounts so you can get a little bit more of his money.

Hard Mode:
Bluffing and playing sub-par hands seems to be non-existence with The Heavy now. Its either he has nothing and folds, or has something good and bets a ton. From what I have seen, if The Heavy plays to the end, there is a very good chance (≈85%) he will win. Similar to Strong Bad, The Heavy will bet a lot of chips if everyone keeps checking assuming Strong Bad did not bet already. Much like Max on Hard Mode, if anyone keeps betting more against The Heavy, he will go All In. Be very careful, The Heavy is the one character I feel shows the most consistent hands in this mode.

Tells
*If The Heavy adjusts his belt, he has an ok hand.
*If The Heavy wipes his nostrils before betting, he has a great hand.
*If The Heavy checks his cards and nods happily, he has a good hand.
*If The Heavy looks down, shakes his head a little, followed by slamming his fist onto the table and giving off a dirty look, he has a bad hand.
*If Heavy wiggles his left hand, he is unsure.
*If the Heavy stretches his neck to the left and right after betting, then he is bluffing.
*If the Heavy puts his arms together, his hand is random.

Reward for K/O
The Heavy's buy-in item is his self-made minigun, Sasha.
Special Item: The Heavy
Knock out The Heavy after he's bought in with his special item to unlock it in TF2 for the Spy Heavy
( Iron Curtain )

Strategy
Tycho is pretty much the opposite of Heavy. Tycho will constantly fold unless his hand is amazing. He is intimidated by bets and will fold as soon as he can. When he does have a really good hand, he will make innocent calls and checks to lure the players to put more money into the pot for him. Toward the end of a round (assuming he has a good hand), he will usually make a big bet. Fold if he bets and has a decent amount of money, unless you have a really good hand to beat him. Tycho rarely bluffs in the beginning or middle of a game. If he decides to go All In, that is another warning to Fold. As more players leave the table, Tycho will play pretty aggressively to the point where he will be willing to play semi-par and good hands as opposed to only playing amazing ones. He will also be willing to start bluffing. He is still a coward when it comes to someone betting against him when he does not have pretty good cards, so don't expect him to be in that many rounds. Beating Tycho involves patiently chipping away at his money due to how often he folds, and folding when he starts betting, raising, and re-raising.

Hard Mode:
Tycho's play style is affected in some ways, but for the most part, his play style is not all that different. Tycho is more willing to play semi-par hands. He will only call if he does not lose a lot of cash from it. But he will still fold if his hand is horrible and people keep betting and raising large amounts. I notice he goes All In a lot more when he is running a bit low on chips.

Tells
*If Tycho barely shakes his head, he has a bad hand.
*If Tycho looks down at his card with a little disappointed look, he has a below average hand.
*If Tycho looks down at his card with a little smile, he has an ok hand.
*If Tycho jiggles his left hand while touching his cards and looks down, he has a great hand.
*If Tycho looks at his card toward the end of the round with a happy expression followed by looking off as if nothing happened, he has an amazing hand.
*If Tycho moves his hand close to his face, he has an ok hand.
*If Tycho looks up to his left and right toward the ceiling, he has a good hand.
*If Tycho slaps himself and then slides his hand down his face, he has a bad hand.
*If Tycho rolls his 20-sided die, he'll either be disappointed or happy, meaning weak or decent hand respectively.

Reward for K/O
Tycho's buy-in item is a Pac-Man watch he has been fighting over with his friend Gabe.
Special Item: Tycho
Knock out Tycho after he's bought in with his special item to unlock it in TF2 for the Spy. ( Enthusiast's Timepiece )

This happens every time I play. If any of the characters win the pot (no splitting the pot), in the next round, there is a very high chance that they will bet or raise an absurdly high amount before the first three cards are dealt. Most likely, all the characters will fold unless they actually have really good cards from the start. When it is your turn, you can re-raise them or simply go All In and they will fold unless they actually had a really good hand. This is an easy way to gain money fast and take a lead faster. However, it is a gamble because there is that chance of them winning multiple times in a row. Proceed at your own risk...
Note: For this method to work, DO NOT raise at all until whoever won raises first.

Orrrrrr, if your luck ran out and you are about to lose a round or even the game, right before the round truly ends which is when the characters are seen taking the chips, close the game via the taskbar, open the game again and continue. You will continue as if that round never happened at all. Hopefully your luck is kind to you this time. This also is a very good way to get the bounty items much faster as you don't have to worry about the other characters stealing the item and being forced to play another game.