Explanation of Rebuy
Typically, acquiring more chips through rebuying is an option exclusive to cash games. Players in cash games can add chips to their stack or choose to cash out whenever they wish, with the only exception being when they are currently participating in a hand. In contrast, tournaments usually have restrictions on rebuys. However, there are tournament styles called 'rebuy tournaments' where players can refill their chip stack after busting, but only for a limited timeframe. Once this rebuy period ends, players who lose their entire stack will be eliminated from the tournament.
Example of Rebuy in a sentence -> Many players engaged in online cash games prefer to rebuy immediately when their chip count falls below 100 big blinds.
Incorporating Rebuy into Your Poker Strategy
Is it advisable to rebuy during rebuy tournaments?
In most circumstances, the answer is no, although there are varying viewpoints and notable exceptions.
Typically, we can approach this question through a hypothetical scenario. Envision an infinite series of identical tournaments with the same buy-in amount. Player A enters every tournament at the start, while Player B joins only after the fifth level of blinds has commenced. If both players possess equal skills, can we expect their long-term outcomes to be the same?
Most players would recognize that Player A enjoys a strategic edge because they consistently engage in more hands than Player B. Whenever we rebuy in a tournament after being knocked out, the value of the second rebuy is inherently lower than that of the original buy-in, paralleling Player B's situation in our thought exercise. Therefore, the best way to enhance ROI is to buy in once at the tournament's outset.
Nevertheless, certain clear exceptions exist that might prompt players to perceive a rebuy as a positive expected value (EV) play, even though it may not yield the highest long-term ROI.
1. Participating in a live tournament incurs substantial travel costs.
2. It’s a unique live event that offers no future opportunities. Not rebuying means missing out completely.
3. As an online player, I aim to maximize volume and hourly earnings, even if it slightly detracts from overall ROI.
Although the conventional belief is that a professional player’s goal is to enhance their ROI (or winrate), the reality is that skilled players should primarily focus on optimizing their hourly earnings. It can be convincingly argued that rebuying can improve hourly rates across various situations, as it provides online players the chance to play a larger number of tournament tables simultaneously.
One important note is that rebuy tournaments require stricter bankroll management due to the increased variance involved. For example, a rebuy tournament with 200 participants presents more variance than a standard tournament with the same number of entries. If 50% of those players rebuy , the dynamic of the 200-entry rebuy tournament resembles that of a regular tournament with 300 entries in terms of variance. (In general, more participants in a tournament lead to higher long-run variance).
In cash games, rebuying is routinely accepted as standard practice. It enables players to maintain their preferred chip stack size. Ideally, while a player might function equally well at various stack sizes, most players excel when playing at an effective depth of 100bb. Consequently, the majority of professionals opt to rebuy back to 100bb if their stack drops below that level.
Rebuys in Poker - FAQ
Understanding the Mechanics of Rebuys in Tournament Poker
If participants were allowed to continuously request rebuys indefinitely, the distinction between tournaments and cash games would diminish significantly. The initial stage of a rebuy tournament is identified as the 'rebuy period,' wherein players can order rebuys until it concludes. Following the end of this period, no additional rebuys will be accepted, leading the tournament to shift into a 'freezeout' structure (where depleting your chips results in elimination).
What is the limit on rebuys in tournament poker?
Numerous tournaments impose no restrictions on the quantity of rebuys allowed, provided that requests fall within the rebuy timeframe. Once that time lapses, no further rebuying is possible. Occasionally, a tournament may set a cap on the number of rebuys a player can make, but it is more commonplace to allow unlimited rebuys, as this enhances the overall prize pool. It's essential to know that not all tournaments operate under the rebuy format, meaning requests for rebuys might not always be an option.
How do rebuys work in cash games?
In cash games, players can choose to rebuy chips at any moment, even if they haven't depleted their stack entirely. (Tournament players can only initiate rebuys after losing all their chips). Thus, cash game players often take the opportunity to purchase more chips as their stack diminishes. While there is generally a cap on how many additional chips a player can acquire, if the maximum buy-in for a table is 200bb, for instance, a player wouldn’t be able to purchase more chips if doing so would elevate them over that limit.
When is the right time to rebuy in a poker cash game?
A prevalent strategy is to rebuy to a set chip count whenever our stack falls below that figure. For instance, if our stack dips beneath 100bb, we would rebuy to reset our stack depth to that level. This tactic is crucial because the correct approach can shift significantly based on stack sizes. Many players dedicate time to mastering strategies for playing with 100bb stacks and aim to stay at that depth for as long as possible.
What is auto-rebuy?
The auto-rebuy feature available in online cash games allows for convenient chip replenishment. Anytime a player’s stack falls below a pre-determined number of big blinds, the software will automatically initiate a rebuy, bringing the player's stack back to the desired level.
While live players might like the idea of rebuying with every hand, this is impractical given the lack of automation. Consequently, live players usually delay rebuying until their stack is more critically low (possibly even until they are entirely out of chips).
See Also