Knockout
Knockout is a competition where players compete with each other based on the draw. Player/team who lose against another player is eliminated from the competition. The winner of the competition is the player/team who wins all games.
Challanger offers the creation of consolidation draw as additional competition for players/teams who were eliminated after the first match. The system offers automatic draw when competition is created.
HOW TO PLAY KNOCKOUT
Without any additional matches, the only position a single-elimination tournament can reliably determine is first - for example, if sorting the numbers 1-4 ascending, if 4 and 3 meet in the first round, 3 and 1 will lose in the first round and 2 will lose in the second, selecting 4 as the largest number in the set, but insufficient comparisons have been performed to determine which is greater 2 or 3.
Despite this, the candidate that loses in the final round is commonly considered to have taken second place (in this case, 2). When matches are held to determine places or prizes lower than first and second, these typically include a match between the losers of the semifinal matches called third-place playoffs, the winner therein placing third and the loser fourth. Many Olympic single-elimination tournaments feature the bronze medal match if they do not award bronze medals to both losing semifinalists.
(Source: Wiki)