Single elimination makes it easier to prevent match fixing but I'll think of something.
Well the idea I was trying to convey (late at night, might I add... never a good idea) was that you have 2 brackets, one for the NA server, one for the EU server. They are essentially run as two separate tournaments until a winner on each server is decided. Then you go to the grand finals round and the winners from each region duke it out on both servers. So it'll be single elimination style, and yet every player will still have two chances, basically, due to there being two brackets.