How to play a rebuy tourney?

Tilter

This is the set up of the LIVE tourney (Casino Rama - August 16th)

Max people is 110, buy in is $100+20 for T1000. Rebuys(less than T1000) are allowed within first 3 levels at $50 for T500 and addons (after 3rd level) are $75 for T1000.

1st - 40%
2nd - 20%
3rd - 15%
4th - 10%
5th - 5%
6th-10th - 2%

First 3 levels are 30 minutes each, and thereafter is 20 minutes. Also, first 2 levels are LIMIT, and each level after is NO LIMIT.

Last tourney, July 19th, first prize got 11K, therefore, the prizepool is about 27.5K.
27.5K - 9.5K (buying,minus money used towards Fall Classics Tourney) = 18K.
18K / .125K = 144 (rebuys and addons) so some people must be taking 3-4 rebuys.

so I was thinking, I shouldn't take a rebuy off the bat since the first 2 levels are LIMIT, I can wait patiently to hit the 1500 mark as that is the best I can do with if I take the rebuys, as I can't double up playing limit, and if I am not near 1500, while less than 1000 after the 2nd level, I should (??) take a rebuy when the NL Levels start.

Also, when should or shouldn't I take an addon.

Also, how should I play Level 1-2 (LIMIT - rebuys available), level 3 (NL - rebuys still on and addons after this level), and level 4+

Should I play tight during the limit levels, ie AA, KK, QQ, JJ, AKs, AKo, AQs (or tighter, or looser) as this will be LIMIT and I can be outdrawn EASILY.

For Level 3, should I also play the same hands and bet near PS on flush and straight draws, and about 1/2-3/4 Pot on rainbow flops?

Then on Level 4+, what should my strategy be?

Thanks for any input, this will be my first LIVE MTT Tourney.

esool

Tilter wrote:

First 3 levels are 30 minutes each, and thereafter is 20 minutes. Also, first 2 levels are LIMIT, and each level after is NO LIMIT.

This may help Dave give some input.
Here is a break down of the blinds from level 1 on:
1. 25-25
2. 25-50
3.50-100
4.100-200
5.200-400
6.400-800
7.500-1,000
8.1,000-2,000
9.2,000-4,000
10.4,000-8,000
11.6,000-12,000
12.8,000-16,000
13.10,000-20,000 and after this point the blinds will double every 20min. level regardless of how many chips are in play.

Dave Scharf

Sorry... long overdue response. Here are my thoughts.

First thing to note is that the blind structure is VERY aggressive. After the re-buy period, the levels are only twenty minutes long AND the blinds frequently double. There will not be as many re-buys as their might be since the game is limit for the first two levels. Also note, there is no overlay to the re-buy. You get exactly the same for the re-buy as you do for the buy-in. There is, however, an overlay to the add-on.

The average stack after the re-buy period will be between $2500 and $3000 with blinds of $100-200. The chips are not deep and they never will be.

Secondly, the payour structure is VERY top heavy. Many tournaments not have around 60% of the money in the top three. The tournament has 75% of money in the to three.

So, what would I do?

(1) Play very tight during the re-buy period -- limit or no-limit. I am gong to start after the re-buy period with at least $2000 chips. I am either going to win them or buy them. My goal is to minimize my investment. If I can start the "real" tournament with no re-buys (I will ALWAYS take the add-on) then I have created an overlay. I have paid $175 to enter with many of my opponents paying more.

(2) Play almost the whole tournament very tight. The chips are not deep. There is not likely every a good reason to "deploy the high variance weapon." Conserve conserve conserve... and hope to get your money in as a 60-40 favourite at least.

(3) There MIGHT be the opportunity to steal a few once you get down to around 30 players, but be very careful... you almost certainly cannot afford a loss at any time in this tournament.

Tilter

Thanks for your help David.

By Variant Weapons, do you match ups such as AJ vs KQ?

esool

Dave Scharf wrote:

First thing to note is that the blind structure is VERY aggressive.
(1) Play very tight during the re-buy period -- limit or no-limit.
(2) Play almost the whole tournament very tight.

I think #1 is sound advice but with #2 I would fear blinding to death due to the aggressive blind structure, no?
What do you think of employing Sklansky's "system" at this tounament?

Tilter

Sklanskys method seems intriging. I wonder if it would work lol

esool

Tilter wrote:

Sklanskys method seems intriging. I wonder if it would work lol

I am going to the tourney as well and after playing in their June tournament I think I will give the system a shot.
It seems Rama is not really interested in holding a successful poker tournament. They just want to get the poker players in and then on to their raked games. Hence the ridiculous blind schedule.

Dave Scharf

By Variant Weapons, do you match ups such as AJ vs KQ?

No. The "high variance weapon" means (to me) a lot of moves and bluffing and stealing and attacking, etc. You will frequently find situations which are positive EV, but VERY high variance (e.g. my three bet resteal). If the chips are not deep you cannot afford a loss. With a short stack, avoid high variance even if it is slightly positive EV.

I think #1 is sound advice but with #2 I would fear blinding to death due to the aggressive blind structure, no?

If you get really short stacked you will have to gamble. Tight is right though. The final table will be made up of players who have played tight and had more than their share of good cards, plus players who have been reckless and darned lucky. I prefer to play tight and hope to "hit some tickets."

What do you think of employing Sklansky's "system" at this tounament?

I think it is probably a bad idea. Sklansky's "system" depends a lot on some assumptions about what kinds of hands people will fold. My experience is that at the WSOP it will work well -- people fold too much. In small Canadian tournaments it will not work well -- people call too much.

sweetjimmi

Not that I am qualified but I agree with David. You need to pick your spots for steals, play dominate hands aggressively, and drop the dominated hands.

This tourney will be a bit of crap shot for anyone who doesn't hit a good run durring level 3 (well I guess that would still be lucky).

Tight aggressive and be willing to push from level 3 on or don't play the hand (unless you magically find yourself on a huge stack).

Jamie.

esool

Yeah, I will be reverting back to my tight aggry-essive play style.
Thanks Dave.

Hey tilter, I will be wearing my big "Las Vegas" trucker cap, say hi if you see me..
Anyone else from here going?

Tilter

I'll see if I can find you during the break sometime or perhaps before it. See yah at the final table

Tilter

Well, today is the big day. Finishing off a $1 Pokerstar MTT for practice, and then going to head to sleep and wake up @ 7am to catch the 8am bus. GL Esool, may the pokergods be on our side!