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The Case Against Rebuys

Posted By: Eric Guedj
Date: Tuesday, 13 April 2010, at 2:25 p.m.

In Response To: The Case Against Rebuys (Bob Koca)

Bob digs-out a risk of collusion : "That last point encourages collusion"

If 2 players agree to manipulate their results (collude) so they both can rebuy twice after 2 games, why not?

Do they gain equity immediately by doing so?

Let's have a look: On Level 1, the 'Double Rebuy Strategy' would give either players 7500 chips, or 75 points each. Why and how would this give them positive equity, that justifies the immediate expense of an extra €720?

I think it could actually be a heavy mistake, costing equity indeed, because there is no come back, and if you happen to win every game, soon the Double Rebuy Strategy would prove costly (this cost converges to a pure loss, 100% of the rebuy price - or € 360 - as you reach the final) .

This cost of equity actually reflects the loss of the valuable option to not rebuying, a precious money-saver, rewarding a good rush of dice and good play...

Therefore, in every scenario where ROI is negative (typically for a strong player with a lot of chips in early levels), the right choice will be to pass on the rebuy option.

Admittedly, the Add-On is harder to resist, with the 5000 chips it grants. But note here that some players (for instance the Day1 chip-leaders, with their fat stacks of 25.000 or more) might also decide that they won't take the extra 5000 chips for 360, increasing their stack by 20%... Isn't this again a stack/dependant decision?

Besides, there is another likely scenario: A weak player (or a qualified amateur) with just a few chips left might decide at the close of Day 1 that 2500 chips (5 points from Level 5) won't be enough for him to survive the next Level. Can someone convince such player that rebuying is a smart way to invest his money? Not so sure.

Rebuying is not automatic after all; it depends on the player's aversion to risk, on ROI/ rebuy price, which itself varies with expected total prize-pool, etc…

Messages In This Thread

• The Case Against Rebuys
  Phil Simborg -- Monday, 12 April 2010, at 5:20 a.m.
  • The Case Against Rebuys
    Stick -- Monday, 12 April 2010, at 6:05 a.m.
    • The Case Against Rebuys
      dc-ohio -- Monday, 12 April 2010, at 12:02 p.m.
      • The Case Against Rebuys
        Bob Koca -- Monday, 12 April 2010, at 1:09 p.m.
        • The Case Against Rebuys
          Stick -- Monday, 12 April 2010, at 1:42 p.m.
          • The Case Against Rebuys
            Bob Koca -- Monday, 12 April 2010, at 2:21 p.m.
            • The Case Against Rebuys
              joe freedman -- Monday, 12 April 2010, at 5:36 p.m.
              • The Case Against Rebuys
                Stick -- Monday, 12 April 2010, at 5:37 p.m.
        • The Case Against Rebuys
          Eric Guedj -- Tuesday, 13 April 2010, at 2:25 p.m.
          • The Case Against Rebuys
            Daniel Murphy -- Tuesday, 13 April 2010, at 6:36 p.m.
  • The Case Against Rebuys
    Jason Lee -- Monday, 12 April 2010, at 6:48 a.m.
    • The Case Against Rebuys
      Rich Munitz -- Monday, 12 April 2010, at 12:54 p.m.
  • The Case Against Rebuys
    Daniel Murphy -- Monday, 12 April 2010, at 8:38 a.m.
  • The Case Against Rebuys
    garyo -- Monday, 12 April 2010, at 12:35 p.m.
  • The Case Against Rebuys
    Tomawaky -- Monday, 12 April 2010, at 5:43 p.m.
    • The Case Against Rebuys
      Jason Lee -- Monday, 12 April 2010, at 7:19 p.m.
      • The Case Against Rebuys
        Tomawaky -- Monday, 12 April 2010, at 9:28 p.m.
  • The Case Against Rebuys
    joe freedman -- Monday, 12 April 2010, at 6:59 p.m.
  • The Case Against Rebuys
    Steve Mellen -- Monday, 12 April 2010, at 10:06 p.m.
    • The Case Against Rebuys
      Jason Lee -- Monday, 12 April 2010, at 10:42 p.m.
  • The Case Against Rebuys
    Eric Guedj -- Tuesday, 13 April 2010, at 10:57 a.m.