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Freezeout/Rebuy Tournaments
Most poker tournaments are freezeouts. In this format, you buy in at the beginning and when you lose all your chips, you are out. But some tournaments have a rebuy option. When you run out of chips, or even if you just run low, you can choose to buy more chips. The rebuy amount is typically the same as the buy in amount, and you usually get chips at the same exchange rate as at the initial buyin. The rebuy period is normally limited to the first few rounds of the tournament. At the end of the rebuy period, there is often an "add-on" option. This is one last chance to buy more chips before the tournament becomes a standard freezeout. Usually all players are eligible to take the add-on, but sometimes the add-on is restricted to just those players whose chip count is less than a certain amount.
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