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To re-buy or not to re-buy, that is the question.
My general question is: in MTTs, when is it correct to re-buy and/or add-on?
Specific scenario: I commonly play a low-stakes daily $20+2 re-buy and add-on NLHE MTT which usually has 60-80 players. Play is soft. Many players play loose, bust, rebuy, and then repeat the same cycle, and repeat again. The result is that at the end of the 1 hour rebuy period there are still 80% of players remaining but there is an inflated prize pool.
I believe the correct move in THEORY is that if your BR can support it, you should always re-buy and add-on in these kinds of tournaments since you have a good chance of winning back the money you invested.
On the other hand, if I bust at almost the end of the re-buy period, it will cost me another $60 (re-buy plus insta 2x chips and then $20 when add-on comes) to continue as an average sized stack. That would bring my total investment to $80. Even if I don't bust in the re-buy period, I'll have to invest another $20 to add-on or perhaps $40 to re-buy and add-on if I have a sickly, less that starting sized stack at the end of the first hour. Since the lowest paid spot (9th place) in this MTT is usually only $105 - $150, I hesitate to put much more money in.
Alternatively, I can give up and drop from that day's tourney -- admittedly then I have 100% certainty of losing my $22 entry. At the same time, I can enter the same tourney the next day. My thinking here is that against soft competition, I should generally be able to build a stack EQUIVALENT in value to what would have cost me $42-$82 if I were rebuying. Naturally, playing well and running good (e.g. having better hands hold up) are pre-requisites.
I would be grateful for guidance concerning "correct" re-buy strategy.
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