Tournament Strategy: NL rebuy v. Limit rebuy.

[ajizzle]

Here are some thoughts.....

In NL you MUST rebuy off the bat to maximize your EV.
In limit, it is not as important, and even borders on -EV to rebuy off the bat because you cannot get all of your chips in the pot during the early levels.

There are far fewer rebuys in a limit tourney, therefore, avg stack at the break is going to be less. As a result, you can play with just one buyin during the first hour, and if your stack is below or slightly above the original buyin, then dump some chips rebuy before the break. Also, the chip dumping is far less expensive in a limit tourney, because it will usually be less expensive to see a showdown in Limit, thus giving yourself a chance to actually win the pot, as opposed to NL, where you would be forced to give up after going below the original buyin.

In limit, if you lose a bunch off the bat, and your stack is below 12 BB's, then you should rebuy. Otherwise, just wait til the end of the period.