In the prior entry, I mentioned how the option to rebuy may have influenced the way a hand was played. I have decided to dedicate an entry to rebuys and how this option can affect your strategy during a tournament.
There are typically two types of rebuy options offered on tournaments. The first is unlimited rebuys until the end of a certain round of the tournament. The second is one rebuy until the end of a certain round in the tournament. A rebuy allows you to purchase an additional starting stack for the cost of the buy-in.
The first rebuy option is usually seen with an online multi-table tournament. You are typically offered unlimited rebuys until the end of one hour of play. Some of these tournaments will allow you to rebuy after your stack falls below the original starting stack, while other tournaments may require to bust out completely before you can rebuy. Often you are even offered the option to add-on during the first break. The add-on allows you to purchase a certain amount of chips for the additional cost of a buy-in. This structure allows for a significant prize pool while keeping the buy-in amounts low.
These tournaments usually have multiple players pushing all-in early and often, regardless of the strength of their holdings. The idea is to try to double up multiple times to build up a huge chip stack to play with. If you go all-in and lose, just rebuy and try again. It is very much like playing the lottery.
The problem this structure poses for a "solid" player is two-fold. First, you cannot just sit back and wait for the first hour to go by. You will be a small stack up against a lot of very big stacks. Second, even if you call an all-in with big cards, you are usually only 60% - 70% chance to win. Over the course of an hour, you are bound to lose some of these confrontations. You will be forced to rebuy and start back at your original starting stack, or just give up on the tournament.
Perhaps the best strategy is to think of these tournaments as having a buy-in of 4 to 5 times the actual buy-in. If the buy-in is $5, just imagine the buy-in is actually $20 - $30, and play accordingly. In order to remain competitive past the first hour, you will have to accumulate a lot of chips without the luxury of waiting for premium hands.
The other rebuy option you typically see in "live" games. You are offered one rebuy opportunity until the end of a certain round of play. For example, my weekly home game offers one rebuy up until the end of the 3rd round. You must lose all your chips in order to rebuy. The principle is the rebuy option allows players to survive a bad beat or two and stay alive in the tournament.
I used to think the rebuy just encouraged reckless play. I now think the rebuy option introduces some interesting strategy implications into the game, for both short stacks and big stacks. As a player's chip stack dwindles, particularly towards the end of the third round, they are faced with a choice. Do they just keep fighting and try to rebuild their stack? Or do they just push all-in hoping for a double up? Even if they lose, they can just rebuy for an original chip stack of 16,000, with the blinds are still manageable. Players in this situation should be willing to push with any two cards. Players with moderate or big chip stacks should recognize this, and their calling requirements can be loosened considerably.
As you are playing in the first 3 rounds, you need to be cognizant that the rebuy option will allow players to play drawing hands aggressively. If you are in a big hand, and suspect your opponent is drawing, you may consider betting your hand faster. Your opponent will be more likely to pay for the privilege of chasing their draws. Likewise, you are more likely to be called down with middle pairs, so again, you can bet your hand more aggressively.
I still believe the rebuy option is an overall detriment to game play. Players have a safety net, making them more willing to chase draws, call down with marginal hands, or attempt big bluffs. But consider this, if a player loses a 1/3 of his stack chasing a marginal hand, they then have less ammo to play a strong hand. If you pick up a hand, you have 10,000 in chips and double up to 20,000. If you make a conservative decision not to chase a marginal hand, you instead have 15,000 and can double up to 30,000. Now you are in a significantly better position. Of course, this is the case against playing marginal hands, irrespective of a rebuy option.
How does a rebuy affect your strategy? Feel free to share in the comments section, and thanks for reading.
Rebuys, not a fan, never have been which is why I rarely rebuy. That being said I play every hand like it is a true hand and I can't rebuy.
ReplyDeleteThis week we had an excellent example of how to maximize the advantage of the rebuy option. Player A had 10,000 chips. The blinds were at 300/600, and there was about five minutes left in the third round. Player A just started pushing all-in with any two cards, and in retrospect - he had to.
ReplyDeleteLet's say you have 10,000 chips and you do not care about having to rebuy. With 5 minutes left to the end of the rebuy round, you almost have to push all-in. Its a net profit, no matter what results. If you start the hand with 10,000, push all-in, and everyone folds, you end the hand with 10,900. If someone in an earlier position raises, but then folds to your all-in, you end the hand with even more than 10,900. If you push all-in and are called by a bigger stack, then go on to win the hand, you end the hand with 20,000+ chips. If you push all-in and get called by a bigger stack, and then lose, you rebuy and get 16,000 chips.
The only negative result is when you push and get called by a lower stack and lose the hand. No matter, as long as there is time left in the round, you can continue pushing all-in.