Poker Stars has introduced a brand new tournament format into its lineup that it’s calling Time Tourneys.

If MTT formats take too long for you to participate then you’re not alone. And more, Poker Stars hears your concern. That’s why the site recently announced the launch of a new type of online poker tournament format called Time Tourneys that promises to pick up the pace of the game.

Instead of playing out until there’s only one man (or woman) standing, Time Tourneys play for a set time limit at the end of which any players still left standing are paid out. Payouts are based on each player’s chip stack at the end of the time limit.

Buy-ins for these Time Tourneys start as low as $1, so everyone can afford to try them on for size. You can even get a free ticket into a Time Tourney worth $5.50 just for making a $30 minimum deposit into your Poker Stars account using the bonus code TIME before October 28, 2011.

Time limits for Poker Stars’ new Time Tourneys range from 15 minutes to 3 hours. Thanks to this new format, players can now commit to squeezing in a little online poker action without concern of a good run bleeding over into their life schedule.

As Team PokerStars member Bertrand Grospellier (aka ElkY) points out, the new Time Tourney online poker tournament format should make for some exciting games since action should speed up apace the closer the clock gets to winding out.