I have been wondering what the bounty chips are for. I dont know their meaning or their use in a game. Are they used in a tourney or a cash game? How would they be used? Same thing with rebuys. When are they used in a tourney or a home game and is there a limit to the number of times you can rebuy or the amount you can bring into the game on a rebuy? I understand some of this would depend on the number of chips you had, but if you had unlimited chips how would this work? Thanks a lot for you help there is a wealth of knowledge on this site and I have been here reading for a while.
bounty chips are for tournaments that have bounties.
some have it so only the previous tourney winner has a bounty on his head, and whoever knocks them out of the tournament gets a bonus prize/cash.
some tourneys give everyone a bounty chip and set aside a certain amount of winnings per player. every bounty chip you get when you knock out another player earns you another bounty reward.
rebuys are usually allowed for a certain time only during the first couple of levels of a tournament. the ones i deal in have rebuys only for the first 3 levels. there are also restrictions on rebuys if you set them - have to be below a certain amount in chips to rebuy or completely out of chips to rebuy. some tourneys restrict how many times you can rebuy during the rebuy period.
Bounties are a way to add a little spice to a game. They are used in several ways. In some cases people willoffer a prize/money to the person the knocks them out of the tournament. In my monthly tournament, we would draw one persons name out of the hat, and that person had a bounty on them. The person that knocked him/her out would get $5. Another way bounties are done is that every puts in an extra $X on top of the buy-in. Each person is given a bounty chip. When a person is eliminated they turn over their bounty chip to the person who eliminated them. At the end of the night the chips are turned in for $X per chip. So player 1 eliminates players 2-6, he has four bounty chips. When he is eliminated he turn over just his chip and cashes the other four for whatever the set amount per chip is.
Rebuys:
Certain tournaments will offer rebuys to players who bust out prior to a certain point in the tournament. Usually it is the first break or 1 hour, what ever is decided by the director. A player that busts out can pay the rebuy amount and get back in the tournament. Some tournaments will offer unlimited rebuys, and others will offer 1 or 2. It is a way to keep things going a little longer and allow people to play more. My buddy uses a rebuy in his event to keep the group of friend together longer before people start going home. Some people don't like rebuy tournaments because play tends to be very loose during the rebuy period because they can always get back in. Last time i played a rebuy tournament, I played two hands in the first 35 minutes, because people were raising and pushing like crazy. The second hand I played I flopped an Ace High Straight and ended up all in, my opponent call and forced me to rebuy with a runner-runner flush. So rebuys have the positive side and negative side.
Some tournament directors require a rebuy or add-on to be purchased with a rebuy chip or in casino chips (i.e. not as cash). If you have a loose game with lots of rebuys then using a rebuy chip will save the tournament director or dealer from dealing with any cash (making change etc) during the tournament, which can save some time.
Other than being another fun/unique chip, the average home game probably doesn't need them.
Dan's 2 cents
edit - these chips are purchased before the tournament starts and can be exchanged for cash when the player is knocked out if they haven't been used.
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