Re-Buy and Add ons

[PJM1206]

Is there an opportune time to rebuy? If you are allowed unlimted rebuys and can buy once your chips are less than you started when is a good time to re-buy

[RoundTower]

once your chips are less than you started with.

[PJM1206]

So... You wouldnt wait unitl you were under maybe 20BBs? I was thinking that as longs as you can avoid re-buying the better off you would be?

While we're on the subject, can someone help clarify the confusion I have with add-ons? I'm going to be running a tournament soon and I want to allow this because there's going to be some inexperienced players that may get knocked out very early. So let's say there's a rebuy/add-on tournament with T1000 starting chips and add-ons take place after the first three blind levels Generally, do they let everyone add-on or just those with chip count below a certain level (like 600 or something). Also, when adding on, do they get 1000 more in chips or do they just get the amount of chips that brings them back up to 1000. Lastly, is the charge of an add-on the full price of the buy in?

[PJM1206]

Typically the add on is the same price as the buy in for the same amount of chips and avaiable to all regardless of their chip amount

Not sure if it is a UK thing, but MOST of our tournies only allowed rebuys once you have 50% or less of your starting chips.

Add on is usually full entry fee for starting chips.

However, I have organised many tournaments for our society and as the organiser you can do what you want!

The add on could be for half the buy in and double the starting stack! Anything that you think will make the tournament better for the players playing it.

[Apathy]

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Is there an opportune time to rebuy? If you are allowed unlimted rebuys and can buy once your chips are less than you started when is a good time to re-buy

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If you believe you are +ev in the tournament you are entering then rebuying whenever possible and adding on is also a +ev oppportunity you should not turn down.

There is very rare situations where adding on is -ev for a winning player when their chip stack is SO large compared to the rest of the field but it would have to be extremly big (and likely your ev edge would also have to be quite small) for this to ever happen that you shouldnt worry about it.

[ohnonotthat]

If your stack were ridiculously large it would be unlikely that a rebuy would be +EV unless the payout structure were very unusual (such as a HUGE overlay created by something like added money)

It's also unlikely that rebuying would show a profit at the beginning of most events. Having 20k at the beginning of the main event of the WSOP would be better than having 10 but NOT 2x better unless you hapened to find yourself at a table composed of morons where you were the small stack. The opportunity to double/triple through one (or more) of these simeons might make a rebuy/addon worth it - though possibly not AS valuable as it might seem on the surface.

Anytime you rebuy you are in effect saying you'd be willing (or happy/thrilled) to enter the tournament from scratch at the point of the rebuy.

Taken to its extreme, this is akin to saying that you'd prefer to [re]buy into said event even if another event with an identical buyin/payout structure were about to begin 10 feet away.

- These days, one almost always is about to begin [sic] 10 feet away; this should be taken into account when the rebuy pimp comes looking for you.

[ohnonotthat]

Noooooooooooo.

Not true.

Read Poker Essays (forget whether volume I or II) for a simplistic yet accurate view on this, or any of a dozen other works for a more detailed treatment.

[Kurn, son of Mogh]

It's also unlikely that rebuying would show a profit at the beginning of most events. Having 20k at the beginning of the main event of the WSOP would be better than having 10 but NOT 2x better

Please elaborate. Most tournament theorists agree that chip value and dollar value do not diverge until very late in a tournament. Thus, at the beginning of the tournament, if you were the only person to have 2x the chips, your EV would be precisely 2x what it was before the rebuy.

But regardless. Even if the rebuy is available to all players, you're wrong unless you can somehow prove that prior to the first hand of a tournament, the 2nd 10,000 chips somehow have less value than the 1st 10,000 (assuming you paid the same amount for the 2nd 10K as for the 1st 10K).