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Rebuy – To buy more chips.
In a cash game, when a player runs out of chips (or is very low), he can simply take more cash from his wallet and
rebuy more from the dealer.
However, the term rebuy is more commonly used in
tournament play. When you
purchase a seat into a tournament, you are said to make your
buy-in. This original buy-in provides
each player with an original stack of chips with which they start play. In a normal tournament, once a player loses
his original starting chips, he is out of the tournament.
However, there are also tournaments wherein a player who loses all his chips can rebuy to replenish the chips they have
lost with another stack, usually for the same amount of the original buy-in and for the same number of starting chips.
These tournaments are called “rebuy tournaments” and usually allow players to rebuy only during a limited time period
(referred to as the rebuy period), or for a certain number of rebuys. For example, players might be able to rebuy as
often as they wish until the first break in a tournament (and then can usually do an
add-on), until the end of a certain
level, or they may only be allowed one rebuy for the entire event.
Rebuy tournaments allow players to take chances in accumulating large amounts of chips by gambling more often with
speculative “all-in” moves early in
the event. They know they can always rebuy more chips and continue playing if they lose an early confrontation. Normally,
a player can only rebuy when his (original or subsequent) chip stack is below a certain point. Rebuy tournaments (depending
on the original buy in amount) can be wild and crazy affairs, with players investing in 3, 4, 5 ... up to 20 or more rebuys.
This usually results in large prize pools relative to the number of players entered.
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