With the increasing popularity of online poker, there are many people who are looking to learn the nuances of poker and its different terminology. The introduction of online tournaments where people can enjoy the excitement of playing in a poker tournament has resulted in more attention being paid to the nuances of these tournaments. As a result, there are people who are trying to find more information on the game in order to maximize their experience. No poker tournament is complete without discussing a buy-in, which is a feature of virtually all tournaments, except for the freeroll tournaments. These tournaments however, are not where the big money is, and for people who are looking to gain valuable experience as well as make some money from these tournaments, the real money tournaments are the best choice.
A buy-in is the term used to describe an amount of money which is paid by each player in order to participate in the tournament. The buy-in is usually a fixed amount that is paid by all players, and this buy-in is used to not only allot the players a given number of tournament chips, but a portion of this is used by the organizers to conduct the tournament. The buy-ins are usually larger for land based tournaments because the organizers have more operational costs, like paying their staffs, maintaining the tables and renting out the establishment where the game is conducted. In the online game, usually a large percentage of this money goes towards the final prize pool, depending on the kind of tournament that is chosen. In order to differentiate between the money that goes in to the prize pool, and the amount used by the organizers, many tournaments separate the two as the buy-in amount, which solely goes towards the prize pool, and another entry fees, which is what the organizers use for their expenses towards the tournament.
The buy-in is fixed at a certain amount of money so that every player is allotted the same number of tournament chips at the start of the game. This is done in the interest of fairness, and to ensure that every player starts on the same footing. The tournament chips themselves have only a notional value, because of this, it is not possible to quit the tournament and cash in ones chips at any point during the tournament. The number of chips issued is generally fixed to be a certain multiple of the buy-in amount, but this can vary according to the tournament rules.
Although in many tournaments, especially the ones with a larger buy-in, the buy-in is the maximum amount that you can pay in the tournament, there are other tournaments that will allow players to purchase more tournaments chips during the course of the game. This is so that an initial loss does not dishearten players, and they can continue to participate in the tournament despite having lost a lot of chips, or if they would like to purchase more chips in order to get a technical advantage. Bigger tournaments, like the World Series of Poker Main Event do not allow the purchase of additional chips, but many serious players enjoy playing games that allow the purchase of more chips in order to recover their losses to some extent. There are two ways by which you can purchase additional chips, and these are called “re-buys” and “add-ons” respectively.
The re-buy is an amount of chips that can be purchased after a buy-in, but this feature is only allowed only for a limited time after the start of the game, with the condition that the stack is below a certain level, usually the initial number of chips. This differs from a rebuy because an add-on is allowed to all players regardless of the size of the size of their chip stack. Add-ons are usually allowed only one time at the game, and usually after the end of the rebuy period. The add-on usually gives the player a larger ratio of chips to money invested than either the rebuy or the buy-in.
Poker tournaments that allow rebuys and add-ons are very different from tournaments than the standard buy-in tournaments. It is important to readjust your poker strategies in order to be successful in this form of the game. The difference between a standard tournament and one with add-ons or re-buys is in the selection of your starting hands. The game strategy is also a lot looser in a game that allows rebuys or add-ons.