I was just watching Daniel Negreanu’s video diary on the WSOP 2006. He was talking a bit about his rebuy strategy and he said that last year he bought in 27 times! 27! Each buyin is $1000! So that’s a grand total of $27,000. He ended up coming 3rd and took home $135,000. Not bad if you ask me.
I play rebuy every Monday night at this club somewhere in London and I wasn’t too good at it to begin with (and I’m not much better now, but I’ve finished ITM twice now after playing about 6 times – so not too bad). The main reason I’m not very good at these rebuy tourneys is because my bankroll for it just isn’t large enough. The buyin is £10 (sterling) and after 90 minutes you can purchase an addon for another £10. When I first started playing the rebuy, I went in thinking that I was only going to buyin twice maximum. After this I read somewhere on the net, that the optimal strategy for rebuy tournaments is to buyin about 7 times and be willing to be buyin even more than that. Up to maybe 10 in total.
So I wasn’t going to get anywhere playing only the best 10 hands in these tournaments. I loosened up a bit and 2 weeks ago I finished in 7th place. 7th was a bit of low finish for me since throughout the early stages of the tournament I was chip leader. I finished 7th in the end because of a few bad beats and by the time I got to the final table I was short stacked.
At one point I was allin with TT against A7s and A2o! I’m a 70% favourite to win that hand, but the guy with A7s won the hand with a flush (one of my fellow friends). Another hand my A8o got beaten by A5o when we were allin preflop – again I’m a big favourite. These were minor bad beats and I didn’t really get annoyed about them, but had I won one or both of these hands I would remained chip leader. The beats only took about 25-35% of my stack each time, but this meant that I was short stacked by the time I got to the final table with huge blinds. My M was about 3 and everyone else had bigger stacks than me, so I needed some luck to win. The luck didn’t come and I went out when I pushed my A2o under the gun and was called by 88. Deserved to go out to that hand. The reason I pushed allin was because my M was 2 at that point and the blinds were just about to reach me.
Anyway, in Daniel’s diary he says that buying in 27 times is not a good idea. The only reason he did it is because he is minted and doesn’t really care so much about the money. He plays $25k a hole at golf! He doesn’t mind paying 27k if it means he’s got a better chance of winning a bracelet.