Proper Rebuy Tournament Strategy
Rebuy poker tournaments are different than traditional freezeout tournaments because in rebuys you can pay an additional buyin fee to get a new stack every time you lose your starting stack. In addition, you can purchase an add-on stack to get twice as many starting chips at the beginning of the tournament.
Because you'll usually purchase multiple rebuys, multiply the buyin of these tournaments times five when calculating your bankroll requirements. So if you usually play $100 freezeouts, move down to $20 rebuys and plan on spending an average of $100 per tournament.
The biggest mistake you can make in a rebuy is to play it like a freezeout and not purchase rebuys. Failing to purchase rebuys puts you at too big of a disadvantage to make it worth playing. If you don't want to buy extra chips, your best bet would be to just play a regular freezeout tournament.
Strategy During the Rebuy Period
The first hour of a rebuy tournament is marked by wild, loose play and big pots. This is the best time to build a huge stack so purchase an add-on right off the bat. That way if you double up off someone you'll have four times as many chips to work with.
Your ultimate goal during the rebuy hour is to amass as many chips as you possibly can. Small hands with big potential like small pocket pairs and suited connectors are your bread and butter in rebuy tournaments. Play these hands whenever you can and if you hit something strong, play it fast.
It's OK to gamble a little during the rebuy stage because if things go your way, you'll have a strong chance to make it deep. If things don't go your way, all you have to do is rebuy again and give it another shot. The rest of the tournament will play in a more sane fashion so use the rebuy hour to build that stack using a combination of smart play and aggressive moves.
Don't take it overboard and turn into a chip dispenser, though. Take calculated risks and think through all your decisions. Every action you take should have a clear purpose. Getting caught up in the moment and acting like a total maniac will only hurt your cause.
Strategy After the Rebuy Period
After the rebuy period you should change gears and play a more straightforward tournament strategy. Check the size of your stack and play the rest of the tournament like you would a freezeout.
Some of the players will still be stuck in hyper-aggressive mode but they won't last long without rebuys. Stay patient and play tight-aggressive poker if you have a few of these types at your table. If the stacks are deep enough, you can still play small pocket pairs and set hunt with them.
After the rest of the maniacs get knocked out, the tournament will tighten up and you can adjust your play based on your stack size and the players at your table. If you have tight players, work on stealing their blinds and building your stack that way. If you have loose players at your table, play tight and take their chips when you hit something strong.
Eventually you'll make it to the bubble and the tournament will tighten up even further. At this point you can get aggressive once again and steal the blinds while everyone else tries to fold their way to the money. The bubble is always the best time to get chips so open up your game when you get close to the money.
By the end of the tournament you'll be facing some massive stacks thanks to all the rebuys that took place earlier. Strong post flop play is critical during the later stages because you won't always have shallow enough stacks to get it all in before the flop. Play tight aggressive poker and don't get all-in against other big stacks unless you have a lock hand.
These are long tournaments but if you hang in there the massive prize pools make it well worth the effort. Get that lead early, maintain it throughout the tournament and stay focused. If you can do those three things on a semi-consistent basis, you'll make all kinds of money playing rebuy tournaments.