bwin has brought back their special Snowball Sit & Gos, aimed at upping the ante this holiday season. With an interesting blind structure, these small events pack an incredible amount of earnings punch.

The “snowball” moniker is certainly appropriate. Like a snowball set rolling at the top of a hill, the blinds will begin increasing in small increments. Initially, they will go up at the ten minute marks. Soon, as action wears on, blinds will begin increasing at the 8, 6, 4, and 2 minute marks, gathering as much cash as the proverbial snowball. Finally, players will face blinds which increase their levels every single minute, making each hand into a veritable avalanche of its own.

Here’s the nuts and bolts of the promotion. Each table will feature six seats worth of No Limit Texas Holdem action, with the aforementioned blind increases. There will be two levels of play: $1+$0.20 for the less affluent, and $5+$0.50 for those with a little more money to sling around. Each player will be given 1,500 starting chips, and the top two finishers will receive a return on their initial investment. These special events, which debuted yesterday, are scheduled to run through the 22nd of January.

A careful look at the rules will reveal the massive earnings potential in these special sit & gos. While a little extra luck will certainly be needed, players seeking to put in a massive amount of hands should look into the Snowball specials. The rapidly rising blinds will force players into quicker action, bringing each event to a much quicker close.

The Snowball Sit & Gos aren’t the only holiday promotion on right now at bwin. The company is also running their annual $100K Christmas Calender, which features a wide variety of different events. Players can compete over cash, live tournament packages, and even electronics such as iPads, PS3s, and other appliances.