Rebuy Strategy
Hi Everyone:
Suppose you have amassed a huge amount of chips. In fact, let's say that it is so much you are a cinch to win the tournament. Should you rebuy?
The problem here is that first place usually pays something like 40 percent (or less) of the prize pool, so the rebuy in this situation has negative expectation.
Snyder recommends that you should always rebuy and add-on. I do agree that this will usually be the case. But he never takes into account the idea that all tournaments today are percentage payback instead of winner take all. Thus I disagree that you should still go ahead and rebuy on those rare occasions when you have amassed a large number of chips.
Specifically, I disagree with his example on page 186 where with $3,200 in chips and the average stack being about $1,000 he goes ahead and purchases another $300. His example of losing $1,800 on a succeeding hand is just what we refer to as results oriented.
One thing for sure, the value of the rebuy does decline because of the percentage payback nature of tournaments the more chips you have. So even if he is correct in purchasing the additional $300 in tournament chips in this example, he can't be correct by much.
This is going to be a very difficult book to review. That's because it will certainly help many of the players who read it to do much better in these tournaments. But from my perspective, it still has some flaws.
Best wishes,
Mason
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