Basically it is just the drinking game of boxing but in a tournament form. All the participants are set up into brackets and face off against each other in a match and the winner moves on to the next round until there is only one person standing.
For each match you need 2 shot glasses, 2 dice and enough beer to last you.
Two people play this game head to head just like a boxing match, with the other 2 people helping them out being their "corner men". Sit at opposite sides of the table and each roll a die. Whoever's die is lower took that punch and drinks their shot. The corner man fills the empty shot glass as quickly as they can and you roll again.
Due to the extra games the break between each 3 minute round is 1 minute and the winner is declared either by the opponent quitting or throwing up.