12/06/2012 09:07 am ET Updated Dec 06, 2017

'Take It All': Howie Mandel Previews New NBC Game Show (VIDEO)

Howie Mandel is helping contestants "Take It All" this holiday season. Mandel hosts NBC's newest game show, a version of yankee swap and white elephant.

"It's a new and amazing game," Mandel says in the exclusive video preview below. "But it's one that I think everyone has played in their life."

The stakes involved are life-changing, according to Mandel. The concept is simple: Contestants see a prize and take it, but then others can steal it from them. But like any game show, there are twists. Eliminations take place based on the lowest prize value until there are only two people left. When there are two left, the players can decide to keep their prizes or try and take all of them. If both players keep the prizes, they both go home with their winnings. If one decides to "take it all" and the other chooses to "keep mine," then the player who said "take it all" goes home with all the prizes, the other leaves empty-handed. Should both contestants choose "take it all," they both go home with nothing.

"Take It All" airs December 10-14 at 9 p.m. EST on NBC and concludes Monday, December 17 at 10 p.m. EST.