*Originally posted by cannell555*

I want to see what a coach says on this matter. Although I dont play these, i'm almost certain that both rebuying and adding-on are +ev.

yup, true story. Reason has sometin to do with the independent chip model.

Let's say there is a rebuy tourney, with 100 participants. These 100 participants can all go for a Guaranteed pricepool of 500$. Let's assume it's a 5$ tourney.

At the start, you pay 5$, for a 1/100 chance on 500$.

Then your aces get cracked, there are 90 players left, 10 of them have rebought, so have a stack of chips they bought later then at the start. There are 110 stacks in the game now, distributed over 90 players. Since there is a payout according to a finish position, we are now always closer to the money, then at the start.

If you don't rebuy, you lost your chance for the big prices. No biggie, we can always start a new tourney. So ev = 0

If you do rebuy, you pay 5$, for a pricepool of 550$, and with 110 stacks in the game, and 90 players. So if we look at it, strictly "chipwise", we hold 1/110 of all chips, and we paid 5$ for a 550$ pricepool. This ofcourse seems totally reasonable, but not profitable.

But, and here is where the icm comes into play, there is another factor, namely, the number of players left!

If you could buy in for 11$ in a 9 man 11$ sng that started 30 minutes ago, and where there are just 4 people left, would you do it?

I'll answer for you: OF COURSE!!!! Since there are only 4 players left, you'd be the 5th player, and with a bit of luck, you'll easily make it to and beyond the bubble. You have a much smaller stack then the other players, but in sng's, that's not superimportant. It's more important to

**survive** then to make your stack bigger, that's why we play so tight at early stages.

For rebuy mtt, the exact same thing applies, just on a bigger scale. If you have 1/110 of the chips, but 90 players left, your chances to win the tourney are better then 1/110! This is definitely the most simplistic way I could explain this, so I hope you understand why rebuying is good now.

ps: for add on the same thing kinda applies. However, if you make your stack only, let's say, 5% bigger, then it might be a bad idea. I'm not 100% sure, but the higher your chips are in a tourney (yes, I mean physically higher), the less they're worth. So if you add on to a short stack, you add some very valueable chips, but if you add on to a gigantic stack, the chips you add are worth much less. I'm not sure about this matter though, so on this topic, i'd like to pass, and see if someone else can explain it, and also see if he can give you a rule on when to add on and when not to add on.

The +ev-ness of rebuying can even be of such extend, that a 45-55 situation can actually be profitable for you! I'm not doing that math for you 5:40 in the morning, but it makes that player rebuy tourneys slightly looser might be a good idea. However, since a lot of players play very loose, playing tighter might be the best idea, since IF you do get a hand, you'll get paid anyway. It's very hard to find the ideal line here, and since I'm not an mtt expert, i'm not gonna give you any tips regarding the style you should play in a rebuy, but this is an interesting and difficult topic, that could even change your playing style.